UBS was mystery lender for Thai group’s US$9.4b Ping An deal: sources

The mystery lender behind a Thai billionaire’s US$9.4 billion (HK$72.97 billion) purchase of a stake in China’s No.2 insurer was UBS, which offered a last minute and complex financing package known to only a few involved, people with knowledge of the matter told Reuters.

The Swiss bank’s financial backing for the largest ever foreign purchase of Chinese stock explains how a Thai conglomerate scraped together US$7.4 billion (HK$57.4 billion) in cash for the deal’s final payment, after its main lender backed out at the 11th hour.

via Business feed http://www.scmp.com/business/banking-finance/article/1207600/ubs-was-mystery-lender-thai-groups-us94b-ping-deal-sources