Gulf Energy powers up for M&A Loan

摘要

Thailand's largest power producer GULF ENERGY DEVELOPMENT has approached a large group of banks for a bridge loan of over US$5bn-equivalent to back its bid for mobile phone operator INTOUCH HOLDINGSThe jumbo borrowing is Gulf Energy's largest on record and a rare big-ticket financing in Asia-Pacific, where the coronavirus pandemic and fragile economic growth have dented deal flow.Around 15 domestic and international lenders are vying for a role on the short-term bridge, despite aggressive expectations from the borrower.