中國化工爲收購先正達融資200億美元大綱

ChemChina has revealed a new line of backers for its $44bn buyout of Swiss agribusiness group

中國化工(ChemChina)最新透露了一系列支持其以440億美元收購瑞士農業企業先正達(Syngenta)的出資方，包括摩根士丹利(Morgan Stanley)和中國銀行(bank of China)在內的投資者在交易中購買了總計200億美元的永久債券和優先股。

Syngenta, with investors including Morgan Stanley and Bank of China buying a total of $20bn in perpetual bonds and preference shares in the deal.

先正達收購交易進行再融資之際，亞洲的銀行家稱，他們正準備另一筆併購案：中國化工和中化集團(Sinochem)合併——預計這筆明年進行的併購案將造就世界最大的化工集團。

The refinancing of the Syngenta acquisition comes as bankers in Asia say they are preparing for another merger: that of ChemChina and its rival Sinochem, in what is expected to become the world’s largest chemicals group sometime next year.

美國證券交易委員會(SEC)的一份申報文件顯示，中國銀行如今成了先正達收購案中最大的出資方，該行購買了中國化工100億美元的永久債券。永久債券是一種混合融資工具，很可能有一部分會被列爲中國化工資產負債表上的股本。

A Securities and Exchange Commission filing showed that Bank of China has now become the largest financier of the Syngenta buyout, with the bank purchasing $10bn in perpetual bonds from ChemChina. Perpetual bonds are a hybrid financing instrument that will probably be treated partly as equity on ChemChina’s balance sheet.

根據該文件，中國化工在該交易中的股權仍然是50億美元。該交易是中國企業有史以來最大規模的海外收購案。

ChemChina’s equity stake in the deal — the largest outbound acquisition for a Chinese group — remained at $5bn, according to the filings.

摩根士丹利在再融資交易的投資者中是唯一外資銀行，它購買了20億美元的可轉換優先股，而由中國政府創辦的300億美元基金中國國新控股(China Reform Holdings)購買了70億美元的永久債券。中國興業銀行(Industrial Bank)購買了10億美元的永久債券。