Phew! BHP arrangers avoid messy syndication dig

Bankers are quietly pleased that the $55bn syndicated loan for BHP Billiton, the world’s biggest-ever such deal, is no longer. The facility, which was secured in February and thus massively underpriced for today’s market, still had to be sold down in a retail phase and would have been one of the few jumbo deals to come to the market early next year.