Bank of China to lead up to $4bln financing for Smithfield deal-Basis Point
HONG KONG May 31 (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.