HSBC has led a fundraising effort of more than $127 million in Vobile Group Limited, a provider of software-as-a-service content production, for its potential acquisition of China-based firm Particle Culture Technology Group.
The financing package is led by HSBC and consists of senior bilateral facility as well as private credit funds. Vobile Group’s proposed acquisition will allow Vobile to continue its growth strategy in China.
Yanbin Wang, chairman, and CEO of Vobile Group said, “Having the full support of HSBC, one of the largest global banking and financial services organizations, is opening up a world of growth opportunities for Vobile. the financing solution provided by HSBC Commercial Banking enables us to move forward with the closing of the announced major acquisition, which will further accelerate our business growth in China. We look forward to expanding our collaboration with HSBC in the future.”