Hungry lenders gobble up 70bp on BHP loan

Lenders will flock to the $45bn facility that BHP Billiton launched to back its hostile bid for Potash Corp of Saskatchewan after pricing for the 'A' piece was announced at 70bp, said loans bankers on Monday.

  • 23 Aug 2010

“This is exactly what the loan market has been waiting for all year,” said one senior banker. “The margin doesn’t strike me as too hard, it’s around where other single-A names were pricing their longer refis earlier in the year.”

BHP will pay 70bp for a $25bn one year term ...

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