Bloomberg News

CVC Said to Plan Bank Meeting for City Telecom Loan

May 30, 2012

CVC Capital Partners Ltd. is holding a bank meeting in Hong Kong June 1 to discuss terms of a HK$2.5 billion loan backing the acquisition of the telecommunications assets from City Telecom (HK) Ltd., according to three people familiar with the matter.

JPMorgan Chase & Co. and Standard Chartered Plc have been hired by CVC to underwrite and arrange the five-year facility, said the people, who asked not to be identified because the details are private. Some banks have been asked to commit the equivalent of about $40 million to $50 million to the loan, another person familiar with the matter said on April 18.

Edward Moore, an external spokesman for CVC at public relations firm Brunswick Group LLP in London didn’t immediately respond to an e-mail seeking comment on the bank meeting.

To contact the reporter on this story: Wendy Mock in Hong Kong at wmock3@bloomberg.net

To contact the editor responsible for this story: Katrina Nicholas at knicholas2@bloomberg.net


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