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HKEX Seeks Up to $9.8 Billion Loans to Fund LSE Offer

Asian bourse operator in talks with banks on deal financing
HKEX must submit formal offer by Oct. 9 under takeover rules

Pedestrians sit outside the London Stock Exchange. — Pedestrians sit outside the London Stock Exchange.Photographer: Luke MacGregor/Bloomberg

By

Manuel Baigorri,

September 27, 2019, 1:45 PM UTCUpdated onSeptember 30, 2019, 2:47 AM UTC

Hong Kong Exchanges & Clearing Ltd. is in talks with banks for a loan to back its proposed takeover bid for London Stock Exchange Group Plc, people familiar with the matter said.

The bourse has been discussing borrowing between 7 billion pounds and 8 billion pounds ($9.8 billion), according to the people, who asked not to be identified because the information is private. It’s seeking to form a syndicate of several lenders, the people said.