Formosa $500m loan opens general tap

Banks working on Formosa Plastic Corp’s loan of around $500m have taken it into general syndication, with three ticket levels available to participants.

  • By Rashmi Kumar
  • 26 Jul 2013

Launched on July 25, the loan is split into a $417m tranche and a Rmb490m ($80m) portion, both with five year tenors. The dollar loan has a margin of 110bp over dollar Libor, while the renminbi tranche is priced at 130bp over CNH Hibor.

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