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Report: More banks expected to join financing of Blackstone-Thomson Reuters deal

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Report: More banks expected to join financing of Blackstone-Thomson Reuters deal

About 21 senior banks are expected to join the financing behind Blackstone Group LP's bid for a majority stake in Thomson Reuters Corp.'s financial and risk unit, Reuters reported, citing "several sources."

The deal is being led by JP Morgan, Bank of America Merrill Lynch and Citigroup.

Wells Fargo, Morgan Stanley, Goldman Sachs and UBS have made the biggest commitments outside of the lead banks, which invited 23 lenders to join the US$13.5 billion-equivalent loan and bond financing at the next level.

Credit Suisse, HSBC, Deutsche Bank, Barclays, Royal Bank of Canada, SMBC, MUFG, Mizuho, Societe Generale, Standard Chartered, Natixis, BMO, Toronto Dominion, Unicredit, Intesa Sanpaolo, ING and Jefferies are some of the banks expected to join the deal, according to the report.

The invited banks will underwrite 28% of the deal and will be entitled to fees in the range of 3% to less than 1%, according to the sources.