Cofco plans $500m club loan

28 Sep 2010

China National Cereals, Oils and Foodstuffs Corporation (Cofco) is planning a $500m loan that will be funded by a club rather than a syndicate, according to those approached about the deal.

The deal has not been mandated yet but the company is in talks with relationship banks. Proceeds will be used to finance overseas acquisitions.

China Agri-Industries Holdings, subsidiary of the borrower, raised $250m in November from a deal arranged by Banco Santander, Bank of China, Citic, ICBC, Bank of Tokyo-Mitsubishi, Mizuho ...

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