Wachovia, CSFB May Arrange Loan for Oracle
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Wachovia Corp. and Credit Suisse First Boston are helping arrange a $9.5-billion loan to back Oracle Corp.’s acquisition of PeopleSoft Inc., bankers familiar with the transaction said.
Oracle said last week that it was negotiating with lenders to help finance the $10.3-billion acquisition.
Oracle is not expected to renew its current $1.5-billion, 364-day revolving credit maturing Wednesday, the bankers said. Instead, Oracle will put in place a $9.5-billion bridge facility, which will also have a 364-day tenure, the bankers said.
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