Straits Asia offers warrants in return for $300m loan
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 ...
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