Global Banks Fund Asian Tower Loan Edging Out Private Credit

Southeast Asia telecom tower operator EdgePoint Infrastructure signed a $475 million loan with a consortium of banks, pricing the deal at terms too tight for the appetite of private credit funds, according to people familiar with the matter.

Five financial institutions including Deutsche Bank AG and Barclays Plc joined the borrowing facility that ended up as a bank loan, though private lenders were approached, said the people, who asked not to be identified discussing private matters. Nomura Holdings Inc., First Abu Dhabi Bank PJSC and Banco Santander SA also funded the five-year deal, said the people.

Barclays, Deutsche ...