UBS is backing one of three consortia that bid around W7trn (US$5.81bn) for the buyout of British retailer tesco's South Korean unit, homeplus, with an underwritten jumbo mezzanine loan. UBS is backing Carlyle Croup's bid and is the only international bank financing a shortlisted bidder. South Korean lenders and financial institutions, including Korea Exchange Bank, Nonghyup Bank, Industrial Bank of Korea and Korea Investments & Securities, are also backing Carlyle's bid with senior debt financing. If Carlyle's bid is successful, the jumbo mezzanine loan will set a record for Asian buyouts, exceeding the previous biggest mezzanine loan on Carlyle's US$1.93bn buyout in early 2014 of adt korea, the South Korean security systems unit of tyco international.
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