Vitol $2.05bn covered as banks feed on acquisition loan

hydrocarbon refinery
By Rashmi Kumar
08 May 2014

Commodities trader Vitol’s $2.05bn acquisition loan is already fully covered, with around 10 banks making firm commitments to the deal.

Ten more lenders are still eyeing the transaction, and are yet to get their final approvals, according to a banker on the deal.

The loan was opened to banks roughly a month ago, and is split between a $1.3bn two year, priced at 175bp over dollar Libor, ...

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