August 18, 2010 / 11:20 AM / in 7 years

RLPC-BHP takes loan of over $40 bln for Potash buy-bankers

LONDON, August 18 (Reuters) - BHP Billiton (BLT.L)(BHP.AX) is expected to announce a syndicated loan of more than $40 billion on Wednesday afternoon as it gives further details of its hostile bid for Canada’s Potash POT.TO, banking sources said.

    Six banks are leading the fully underwritten loan -- JP Morgan, TD Securities, Banco Santander, Barclays Capital, BNP Paribas and Royal Bank of Scotland -- which is expected to be syndicated from Europe.

    BHP said earlier on Wednesday it has a “new multi-currency term and revolving facility agreement entered into for the purpose, among other things, of meeting the funding requirements of the transaction.”

    Reporting by Alasdair Reilly & Tessa Walsh; Editing by Erica Billingham

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