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.
Showing posts with label Banco Santander SA. Show all posts
Showing posts with label Banco Santander SA. Show all posts
Monday, September 20, 2010
Friday, September 10, 2010
BHP's (NYSE:BHP) Underwriters Attract Over $45 Billion for Potash (NYSE:POT) Bid
Loan underwriters for BHP Billiton Ltd. (NYSE:BHP) successfully wooed investors, as they exceeded the $45 billion the mining giant was looking for to raise in their bid for Potash Corp. (NYSE:POT).
Included in the underwriting group were Barclays Capital (NYSE:BCS), BNP Paribas SA, JPMorgan Chase & Co. (NYSE:JPM), Royal Bank of Scotland Group Plc (NYSE:RBS) and Banco Santander SA (NYSE:STD), who started marketing the deal on August 18, according to a source who didn't want to be identified.
According to the source, the loan will be signed within a ten day period.
BHP offered $130 a share in the bid for Potash, which the board rejected, calling it “grossly inadequate.”
China is looking for ways to block the sale to prevent BP from developing the type of pricing power some in the iron ore industry enjoy.
That's probably more fear than anything based in reality, as BHP has historically ramped up production and competed on volume and price rather than attempting to increase prices by controlling supply.
Included in the underwriting group were Barclays Capital (NYSE:BCS), BNP Paribas SA, JPMorgan Chase & Co. (NYSE:JPM), Royal Bank of Scotland Group Plc (NYSE:RBS) and Banco Santander SA (NYSE:STD), who started marketing the deal on August 18, according to a source who didn't want to be identified.
According to the source, the loan will be signed within a ten day period.
BHP offered $130 a share in the bid for Potash, which the board rejected, calling it “grossly inadequate.”
China is looking for ways to block the sale to prevent BP from developing the type of pricing power some in the iron ore industry enjoy.
That's probably more fear than anything based in reality, as BHP has historically ramped up production and competed on volume and price rather than attempting to increase prices by controlling supply.
Subscribe to:
Posts (Atom)