Shuanghui obtained binding financing commitments from Morgan Stanley and Bank of China. The latter underwrote a $4 billion loan, while Morgan Stanley arranged $3 billion of debt in the US market, which included a $1.5 billion 364-day bridge loan.
Shuanghui announced on May 28 that it had entered into a merger agreement with Smithfield to purchase the company for $34 a share – a 31% premium to its share price – and assume $2.4 billion of the company’s debt in a $7.1 billion leveraged buyout.
Shuanghui’s $4.7 billion acquisition of US pork processor Smithfield, the largest Chinese takeover of a US company, could signal a shift in the countries' FDI relations
The country's domestic RMBS issuances remained strong throughout the financial crisis. But the market must now look farther afield for new investors. Here's why
