Formosa Plastics signs two-year loan

Formosa Plastics Corporation USA earlier this week signed a two-year loan arranged by Citibank/Salomon Smith Barney. Following the closure of syndication last week, the deal raised $320 million for the borrower. The original size of the deal was $350 million. However, banks can still join in the deal within six months of the signing date, which could see the size of the deal being increased.