Straits Asia offers warrants in return for $300m loan

20 Nov 2008

Straits Asia Resources will issue equity warrants to Standard Chartered, the underwriter of the $300m loan it is taking out (EuroWeek Asia 1080, front page).

Though a common feature in the high yield private placement and pre-IPO debt market, warrants are an unusual addition to a syndicated loan.

The fully committed 18 month loan comprises a $250m term loan and a $50m working capital facility. Straits Asia will repay $125m of the facility ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial