(Corrects to add dropped word "bln" in headline)
HONG KONG May 4 Ant Financial Services Group,
an affiliate of online shopping giant Alibaba Group, is
close to signing a $3.5-billion syndicated loan to help finance
its purchase of U.S. money transfer company MoneyGram
International, Thomson Reuters Basis Point reported on
Fourteen banks, including Citigroup, Credit Suisse
, Goldman Sachs, HSBC, Morgan Stanley
and JPMorgan, have committed to the three-year
loan, which will replace a bridge facility that backed
Ant Financial's bid for MoneyGram, Basis Point reported.
Documentation of the loan is in progress, with signing
expected within the next few days, it said.
Ant, valued at about $60 billion after a $4.5-billion
funding round last April, is set for an initial public offering
(IPO), though it has not specified a timeframe or listing venue.
Representatives for Citi, JPMorgan and HSBC declined to
comment, while Goldman Sachs, Credit Suisse and Morgan Stanley
did not immediately respond to an emailed request for comment.
Ant Financial also declined to comment.
(Reporting by Carol Zhong and Prakash Chakravarti; Additional
reporting by Catherine Cadell and Sumeet Chatterjee; Editing by