Coal and metals mining company Xstrata's $8.5bn acquisition facility has been signed but it is on hold as the takeover battle for Canadian mining company Falconbridge continues. Bookrunners on the deal are Barclays Capital, Deutsche Bank, JP Morgan and Royal Bank of Scotland. The loan is made up of a $1.5bn six month bridge that pays a margin of 50bp, a $3bn revolver with a five year tenor and a margin of 70bp, a $3bn term loan with a three year tenor and a 60bp margin, and a $1bn five year term loan paying a margin of 70bp over Libor.
July 14, 2006