ChemChina $43bn deal yields jumbo loans bonanza

By Shruti Chaturvedi
04 Feb 2016

The prospect of a huge financing package to back ChemChina’s $43bn acquisition of Syngenta has left bankers guessing how the two banks arranging the funding are going to structure and distribute the debt, especially as the lenders are working under separate mandates. Despite their size, the loans are expected to be well supported thanks to abundant liquidity in Europe and the target’s strong credentials, writes Shruti Chaturvedi.

State owned ChemChina, or China National Chemical Corp, said on Wednesday it has offered $43bn in cash to buy Syngenta, a seeds and pesticides maker from Switzerland. The two banks advising the acquirer on the purchase, China Citic Bank International and HSBC, are also arranging a debt package ...

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