Sinochem nears commitments for $700m loan

17 Jun 2010

Loans bankers are set to commit as mandated lead arrangers on a $700m loan for Sinochem Hong Kong by the end of this week, giving a further test of the ability of Chinese borrowers to turn to the international loan market for funding amid a crackdown on domestic lending.

Six to seven banks are working through their internal approval processes for the loan, one of the largest dollar-denominated loans from a Chinese borrower to hit the market all year. Restrictions on local lenders have opened up the loan market to regional and international banks, loans bankers told ...

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