Shanghai banks move closer to M&A lending

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    clpstaff &clp articles

    First agreement reached since issuance of new guidelines

    Two banks in Shanghai are set to become the first to offer credit for mergers and acquisitions after finalising an agreement with the Shanghai United Assets and Equity Exchange.

    Under the co-operation agreement, the Shanghai branch of ICBC and the Bank of Shanghai will offer a total of Rmb10 billion (US$1.46 billion) for M&A transactions. The banks will be able to use the Exchange as a platform to extend their acquisition finance capability.

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