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Reuters: Six banks set $6.5B bridge loan for Broadcom's Brocade buyout

Published 11/08/2016, 01:42 PM
Reuters: Six banks set $6.5B bridge loan for Broadcom's Brocade buyout
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  • Broadcom (AVGO +0.4%) has a $6.5B bridge loan lined up from six banks for its acquisition of Brocade (BRCD -0.1%), Reuters reports.
  • The companies came to agreement on an all-cash $5.9B buyout of Brocade (including debt) last Wednesday.
  • Signing on to the unsecured loan, according to Reuters: BofA Merrill Lynch, Deutsche Bank (DE:DBKGn), Barclays (LON:BARC), Bank of Montreal, Citigroup (NYSE:C) and Credit Suisse (SIX:CSGN). They'll hold the loan until permanent financing is in place by next April, when closing is expected.

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