Six banks will provide chip maker Broadcom with $ 6.5 billion in over-lending to support its acquisition of Brocade, Nov. 9, according to foreign media reports. Broadcom announced on Wednesday that it will acquire network equipment maker Brocade Communications Systems Inc. for $ 5.5 billion in cash to expand its Fiber Channel and data storage business. u83133169

Sources said Bank of America Merrill Lynch, Deutsche Bank, Barclays, Bank of Montreal, Citigroup and Credit Suisse have signed a 364-day unsecured over-lending agreement with Broadcom.

Six banks will provide over-lending support until the April 2017 acquisition is completed, over-lending was replaced by a permanent financing agreement. The final capital structure will depend on the company’s corporate rating at that time. Moody’s Investor Services rated Bertone positively on Ba1, while Standard & Poor’s rated BB + on investment ratings. 20t201da2

After the acquisition, Fitch gave BBB a rating for Broadcom. According to Freeman Consulting Services, these banks can benefit from over-loan of 25 million to 35 million US dollars.