In an unusual move, JPMorgan has swept into the forthcoming financing for UOB, as it seeks to buy Singapore's fourth biggest bank, OUB.
This is something of a coup, especially given that Merrill Lynch did the successful MA advisory for UOB. Merrill put in place the bridge loan that Singapore regulations make necessary, a fact that would suggest it would have gained sole books in the financing. In Singapore, banks must pre-fund the acquisition of other banks, under Monetary Authority of Singapore regulations.
A roadshow will be held on Friday for the Singapore dollar bond, which is expected to be a minimum size of S$750 million, but could be as...
