TOKYO: SoftBank Group Corp’s US$40bil bridge loan for its investment in US tech giant OpenAI has attracted a new group of 21 lenders in a broader syndication phase, say people familiar with the matter.
The group, which added to the number of financial institutions already on the deal, has been allocated around US$7bil of the facility in total, said the people, who asked not to be identified discussing a private matter.
Out of that, First Abu Dhabi Bank PJSC, GIC Pte and Standard Chartered Bank have each taken a nearly US$1bil share, said the people.
The rest of the amount was allocated to some European, Japanese and Taiwanese banks, the people added. The number of new lenders was calculated on the parent level of each institution as some lenders are joining across more than one branch.
The remaining US$33bil of the bridge loan is held by underwriters and senior lenders, but it may be syndicated further, the people said.
It is common for the initial lenders on a deal to distribute loans to a broader group.
The 12-month loan, signed in March, is one of the largest-ever bridge financings in the Asia-Pacific, and is set to generate more than US$100mil in fees for underwriters. — Bloomberg
