RLPC-SoftBank raising Asia's biggest-ever syndicated loan
HONG KONG Aug 8 (Reuters) - Japanese wireless carrier SoftBank Corp is seeking a jumbo $20 billion yen-equivalent loan, which is the biggest ever syndicated loan to be raised in the Asia Pacific region, banking sources said on Thursday.
Proceeds will refinance the one-year bridge loan from December 2012 that backed SoftBank's $21.6 billion acquisition of US-based telecom Sprint Corp, which is the biggest-ever overseas acquisition by a Japanese company.
The original bridge loan, which totalled 1.65 trillion yen ($17.08 billion), was previously Asia's largest syndicated loan. It was subsequently reduced to 1.285 trillion yen after SoftBank raised a 370 billion yen bond to cover its investment in Sprint.
Bank of Tokyo-Mitsubishi UFJ, Deutsche Bank, Mizuho Corporate Bank and Sumitomo Mitsui Banking Corp are arranging the new jumbo loan and also led the original bridge loan.
SoftBank declined to comment. ($1 = 96.5850 Japanese yen) (Reporting by Tessa Walsh)