Four banks join MS-led loan for Sinosteel Hong Kong unit

15 Oct 2009

Sinosteel International Holdings, the Hong Kong unit of China’s state-owned steel group, has received four commitments worth HK$1.1bn for its five year loan, leaving sole bookrunner Morgan Stanley well on the way to its HK$1.5bn target.

The commitments have all come from Hong Kong banks, said a loans banker close to the deal, but lenders have until the last week of October to respond.

The facility carries a margin in the high 200bps over Hibor, with an all-in in the low 300s. Lenders will ...

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