BRIEF: Cargill plots increase for $1bn facility
US commodities trader Cargill is close to signing a $1bn one year revolving credit facility after launching the deal in early February. The loan — the borrower’s first outing in Asia and Europe — was oversubscribed and the company is now hoping to increase the deal.
More than 10 banks joined the deal in syndication. It was led by BNP Paribas, Deutsche Bank, HSBC, Royal Bank of Scotland and Standard Chartered.
The company is rated A2/A/A by Moodys, Standard & Poors and Fitch, giving banks an opportunity to add to their investment grade portfolios. But
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