Occidental builds Anadarko loan war chest

dollar focus px230
By Mike Turner
06 Jun 2019

The US’s Occidental Petroleum has completed an $8.8bn loan and is raising a $13bn bridge to back its $57bn purchase of Anadarko Petroleum, with a bevy of lenders getting in on the action.

Occidental’s bridge facility counts Bank of America and Citi as bookrunners. Both US banks were brought on in the early stages to arrange the financing for Occidental.

Bank of China, PNC, Scotiabank, Standard Chartered and US Bankcorp make up the rest of the bank group.

Meanwhile, the smaller acquisition loan ...

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