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 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’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
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Qihoo 360’s convertible bond was not only the first this year but also the largest ever such offering from a US-listed Chinaco. Here’s why it could inspire copycat deals
China ZhengTong Auto last month became the first Chinese private sector issuer to offer a bond backed by a standby letter of credit. Here's how it has opened the market for private sector ChinaCos
Herbert Smith Freehills’ Australian public M&A report revealed a drop in the success rate of deals. As deals become more challenging, structures and mechanics have also changed
Australia’s secondary debt market is now more liquid than ever. The development of this market has been a game-changer for banks, investors and distressed companies
On September 12, India’s Ministry of Corporate Affairs issued a notification bringing into force 98 sections of the country’s Companies Act 2013. The new law should significantly alter India’s corporate governance practices
