Beijing—China National Chemical Corp. (ChemChina) is reportedly seeking to borrow a total of $35 billion to help fund its purchase of Syngenta AG (GM Feb. 5, p. 18), a record amount for an overseas acquisition by a Chinese company. ChemChina is reported to have hired China Citic Bank International Ltd. to arrange a $15 billion loan facility, which will be fully guaranteed by ChemChina and likely syndicated in Asia, with a separate $20 billion acquisition loan still under negotiation. Syngenta AG announced on Feb. 3 that ChemChina had offered to acquire the company for more than US$43 billion (US$465 per ordinary share) in a deal touted as the largest-ever acquisition by a Chinese company.
Transparency Across the Fertilizer Value-Chain