HONG KONG – Shuanghui International Holdings Ltd has mandated Bank of China for an up to $4 billion global syndicated financing to support its acquisition of U.S. pork producer Smithfield Foods , Basis Point reported on Friday.
The tenor of the loan will not exceed five years, said Basis Point, a Thomson Reuters loan publication.
Shuanghui agreed to buy Smithfield for $4.7 billion in cash on Wednesday, plus the assumption of $2.4 billion of the Virginia-based company's debt.
Morgan Stanley is also providing financing for the deal, according to a statement on Wednesday.
(Reporting by Kane Wu of Basis Point; Additional reporting by Stephen Aldred; Editing by Michael Flaherty)