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BEHL turns to syndication for new HK$3bn
At a time when many borrowers are being drawn to club loans as a way to obtain cheaper pricing, Beijing Enterprises Holdings (BEHL) is going against the tide. It has opened up a HK$3bn ($387m) loan to lenders, marking not only its return to the syndicated market after a four year gap, but also a change in strategy since its last fundraising.
The new loan comes with a five year maturity, and is being led by bookrunners and mandated lead arrangers Bank of China, Bank of Tokyo Mitsubishi-UFJ, Scotiabank and Sumitomo Mitsui Banking Corp, according to a banker on the deal.
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