July 16, 2014 / 6:11 AM / 4 years ago

UPDATE 1-Market Chatter-Corporate finance press digest

(Adds items on Catalunya Banc, Espirito Santo, Lone Star Funds, Group Oi, Lloyds Banking, S&P and POSCO)

July 16 (Reuters) - The following corporate finance-related stories were reported by media:

* Japanese messaging app operator Line Corp applied for an initial public offering that is likely to value the company at over 1 trillion yen ($9.85 billion), around two weeks ago at the Tokyo Stock Exchange, a person with knowledge of the matter said on Tuesday.

* U.S. buyout giant KKR & Co LP is expected to join Australia’s Pacific Equity Partners (PEP) to lodge a $1 billion bid for Australian compliance company SAI Global Ltd, two sources familiar with the matter told Reuters.

* Spain is likely to sell Catalunya Banc’s mortgage portfolio this week to either private equity firm Blackstone or a consortium led by California-based Oaktree, three sources with knowledge of the matter said.

* Portugal’s Espirito Santo clan is preparing to file for creditor protection for one of its key holding companies, sources said on Tuesday, moving to ringfence prized assets as a deadline for a $1 billion plus debt repayment to Portugal Telecom looms.

* Global buyout firm Lone Star Funds is looking for buyers for a complex of buildings in central Tokyo after exclusive talks with Singapore’s sovereign wealth fund GIC Pte Ltd stalled due to a legal dispute over the property’s ownership, according to three people with direct knowledge of the matter.

* Some large shareholders in Grupo Oi SA could take partner Portugal Telecom SA to court if a debt investment made by the latter ends up in default, a step that could delay the companies’ planned merger, a source close to the transaction said on Tuesday.

* U.S. and British regulators are nearing a deal with Lloyds Banking Group to resolve investigations into the bank’s alleged attempts to manipulate benchmark interest rates, the Wall Street Journal said on Tuesday.

* Standard & Poor’s Ratings Services decided to settle a pending lawsuit with the U.S. Department of Justice (DOJ) and is open to paying about $1 billion to settle it, the Wall Street Journal reported citing people familiar with the matter.

* South Korean steelmaker POSCO is considering selling as much as 49 percent of its liquefied natural gas (LNG) terminal in the southwestern city of Gwangyang, a company official told Reuters on Wednesday.

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