Bank of China to lead up to $4billion financing for Smithfield deal: Basis Point

HONG KONG (Reuters) - Shuanghui International Holdings Ltd has mandated Bank of China for an up to $4 billion global syndicated financing to support its acquisition of U.S. pork producer Smithfield Foods , Basis Point reported on Friday.

The tenor of the loan will not exceed five years, said Basis Point, a Thomson Reuters loan publication.

Shuanghui agreed to buy Smithfield for $4.7 billion in cash on Wednesday, plus the assumption of $2.4 billion of the Virginia-based company's debt.

Morgan Stanley is also providing financing for the deal, according to a statement on Wednesday.

(Reporting by Kane Wu of Basis Point; Additional reporting by Stephen Aldred; Editing by Michael Flaherty)

Source: http://news.yahoo.com/bank-china-lead-4billion-financing-smithfield-deal-basis-092823031.html

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