The lead banks financing TPG Capital and Affinity Equity Partners' buyout of Singapore's United Test & Assembly Center are attempting to attract demand for Asia's first covenant-lite loan despite this summer's backlash by investors over aggressive deal structures.

Underwriters ABN Amro, JP Morgan and Merrill Lynch are scheduled to meet with bank and institutional investors in New York today in an effort to secure support for the type financing structure that has almost become taboo in the US and European loan markets.