SSB/Citi launches $100 million deal for Sun Metals

Pricing comes close to Korea Zinc''s $30 million club deal also arranged by SSB/Citi last month.

SSBCiti has launched a $100 million three-year term notes facility into general syndication for Sun Metals. Sun Metals is the wholly-owned Australian subsidiary of Korea Zinc, the guarantor for the bullet deal.

The deal is priced at a spread of 85bp over Libor. Proceeds will be used for general working capital requirements and refinancing of a loan-style FRN maturing in September. In 1997, Sun Metals raised $120 million through a five-year deal, which priced at 65bp over Libor, stepping...

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