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.
This is exactly what the loan market has been waiting for all year, said one senior banker. The margin doesnt strike me as too hard, its 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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