China Shanshui launches $300m syndicated loan

However, the cement company still needs to raise more funds as it faces Rmb4.9 billion of debt maturing this year, according to an S&P report.

China Shanshui Cement last week launched a $300 million three-year loan into general syndication for the first time, potentially relieving some of its pressing debt funding needs but still leaving it with a refinancing gap.

The cement company has previously secured bilateral US dollar loans but this is the first time it is tapping the syndicated loan market.

The margin for the loan is 330bp above Libor and Deutsche Bank, HSBC and JP Morgan are the lead arrangers.

For a commitment of $40 million and above, the all-in pricing is 405bp over Libor and for a commitment of $30-39 million, it is Libor plus...

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