Grain group picks DBS for syndicated debut
Chongqing Grain Group’s $150m three-year loan was launched into general syndication by sole bookrunner DBS, the first time the state-owned company is targeting the syndicated loan market to raise funds.
The Chinese grain companys loan has been priced at 280bp over dollar Libor and is targeted at Chinese banks, according to a banker close to the transaction.
The lead is giving banks until May 8 to make pledges, but lenders can also take advantage of the early bird
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