China Co. Seeks $35b  for Syngenta Bid
World Economy

China Co. Seeks $35b for Syngenta Bid

China National Chemical Corp. is seeking to borrow a total of $35 billion to help fund the purchase of Syngenta AG, in a potential record financing for a Chinese acquisition, Bloomberg reported. The Beijing-based company hired China Citic Bank International Ltd. to arrange a $15 billion loan facility, which will be fully guaranteed by ChemChina, people familiar with the matter said, asking not to be identified because the information is private. ChemChina is scheduled to meet lenders this week about a separate $20 billion syndicated loan, according to an earlier e-mailed statement. ChemChina agreed to buy Syngenta for $43 billion earlier this month in a deal that will transform it into the world’s largest supplier of pesticides and agrochemicals. The planned loan dwarfs Chinese companies’ previous overseas acquisition financing and may stoke concerns about the nation’s businesses piling up debt in a push to buy foreign technology.


Short URL : http://goo.gl/VN3UD5
  1. http://goo.gl/frcSiJ
  • http://goo.gl/xVeygJ
  • http://goo.gl/uQ6VtJ
  • http://goo.gl/MNQPPN
  • http://goo.gl/UA3Lxb

You can also read ...

Business confidence fell to its lowest level since August 2013 and around 7% of companies expected a contraction.
According to data from the International Monetary Fund in...
China Warned of Ballooning SOEs
Former chief of the World Bank Robert Zoellick cautioned China...
Shrinking unemployment in the US, Japan and the eurozone finally forces companies  to lift wages to retain and attract staff.
Workers in the world's richest countries are getting their...
New Zealand Q2 GDP Growth Picking Up
New Zealand’s economic growth is expected to have accelerated...
Saudi Sovereign Fund Secures $11 Billion Loan
Saudi Arabia's sovereign wealth fund said Monday it had...
Lira Eases Against Dollar
Turkey’s lira weakened against the dollar on Monday as...
By 2025 more than half of all current workplace tasks  will be performed by machines.
Robots will handle 52% of current work tasks by 2025, almost...
Myanmar Businesses Want Lower Taxes
Myanmar businesses are urging the government to lower the...