Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials HomeFinanceBrookfield nears $935 million loan for World Freight purchaseThe deal is the latest in a recent spate of acquisition financings in AsiaAuthor of the article:Last updated 1 day ago You can save this article by registering for free here. Or sign-in if you have an account.Brookfield Asset Management is set to purchase air cargo specialist World Freight Co. Photo by GREG BAKER /AFP via Getty ImagesBrookfield Asset Management Ltd. is close to securing a US$935 million loan to back its purchase of air cargo specialist World Freight Co., according to people familiar with the matter, the latest in a recent spate of acquisition financings in Asia.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorThe investment firm signed the loan documents last week, the people said, asking not to be identified discussing private matters. The loan will be effective once Brookfield’s purchase of World Freight from its previous owners, EQT AB and PAI Partners SAS, is completed, the people said.The lending facility carries a five-year tenor and is covenant-lite, the people said, giving the borrower greater flexibility through fewer ongoing performance requirements. Mitsubishi UFJ Financial Group Inc., Barclays PLC and HSBC Holdings PLC are arranging and underwriting the loan, the people added.Breaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Posthaste will soon be in your inbox.We encountered an issue signing you up. Please try againRepresentatives for Brookfield and PAI declined to comment, while EQT said it isn’t “able to comment on market speculation.” World Freight didn’t respond to a request for comment.The loan deal is part of a flurry of acquisition funding across Asia Pacific, particularly in Australia. In March, U.S. buyout giant Bain Capital LP secured a A$430 million (US$312 million) loan for its purchase of the Australian wealth management unit of Perpetual Ltd., while Macquarie Asset Management Pty-led group is seeking a A$4.95 billion facility to finance its purchase of Qube Holdings Ltd.Despite the recent activity, the overall market remains sluggish as the Middle East conflict has raised concerns about energy supplies and global economy growth. Acquisition buyout loans in Asia Pacific excluding Japan so far this year are down nearly 61 per cent from the year-earlier period to US$4.95 billion, according to Bloomberg-compiled data.Formed in 2004, World Freight invests in general sales and services agencies specializing in air cargo. Its more than 300 portfolio companies operate across 80 countries and manage over three million tons of cargo capacity annually for airline partners, according to its website. Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.