BHP Billiton Ltd. (NYSE:BHP) has received the $45 billion in loans they were looking for to reinforce the bid they made for Potash Corp. (NYSE:POT).
In a statement emailed from the underwriters, the loan facility was said to include a "$25 billion 364-day multicurrency term loan with a one-year extension; a $10 billion three-year multicurrency term loan; a $5 billion three-year multicurrency revolving line of credit, and a $5 billion four-year multicurrency revolver."
BHP Billiton spokesman Ruban Yogarajah confirmed the facility is in place, saying along with supporting the Potash transaction, can also be used for general purposes. It replaces an existing revolving credit facility which matures in 2011.
Underwriters for the deal include JPMorgan Chase (NYSE:JPM), Royal Bank of Scotland Group Plc (NYSE:RBS), Barclays (NYSE:BCS), Banco Santander SA (NYSE:STD) and BNP Paribas.
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