Companies line up for acquisition loans
Asia Pacific Boiler Corp is seeking a $300m standby line of credit to fund its proposed acquisition of Million Place Investments. Separately, Brightoil Petroleum, which is acquiring Kerr-McGee China Petroleum, is also funding some of its acquisition via bank loans.
Asia Pacific is buying Million Place, which owns a majority stake in Chinese company Inner Mongolia Yulong Pump Production, and is funding it with a standby line of credit.
The $300m loan is expected to be provided by a local Chinese bank, according to a source, but he
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