Thailand’s TCC secures $3.6b loan to fund Big C acquisition

Visual from TCC Holding website.

TCC Holding Co. has obtained a 3.2 billion euro ($3.6 billion) bridge loan to fund its acquisition of a controlling stake in Thai supermarket chain Big C Supercenter Pcl, according to people familiar with the matter.

Berli Jucker Pcl, a subsidiary of Bangkok-based conglomerate TCC, will be the borrower for the one-year loan, said the people, who asked not to be identified because the details are private.

Nine banks have participated in the deal and some lenders committed up to 500 million euros apiece, they said. A draw down of the facility will likely take place by the end of this month, the people said.

TCC, controlled by Thai billionaire Charoen Sirivadhanabhakdi, last month agreed to purchase for 3.1 billion euros the 58.6 percent stake in Bangkok-listed Big C owned by French retailer Casino Guichard-Perrachon SA. TCC is also in talks with several local banks for an additional facility in Thai baht to fund a tender offer it’s made for the remaining 41.4 percent of Big C shares, according to the people.

The acquisition price for the remaining shares won’t exceed 86.5 billion baht ($2.5 billion), according to a Berli Jucker statement on March 4. Two calls to Berli Jucker’s public relations department seeking comment went unanswered, and two calls to TCC Holding’s general number also weren’t answered.

Also read:

France’s Casino Group to sell Thai hypermarket operator Big C to TCC Group for $3.5b

Thailand’s richest families to compete for Casino’s Southeast Asia Units

Thai Berli taps overseas banks to raise $6.2b for Big C deal; on track to meet financing deadline

Thailand’s Berli Jucker seeks $6.2b loan for Big C acquisition; shares drop

Bloomberg

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.