Chinese Banks Win Over Global Rivals to Finance Starbucks Deal

Chinese lenders are nearing a deal to help finance Boyu Capital’s acquisition of a 60% stake in Starbucks Corp.’s China retail business — shutting foreign banks out of the top slots, according to people familiar with the matter.

Ping An Bank Co., Industrial Bank Co., and China Minsheng Banking Corp. are set to arrange a seven-year syndicated loan of about $1.4 billion, though terms are still under negotiation and the list of banks has yet to be finalized, the people said, asking not to be named because the matter is private. The facility would help finance ...