A PYMNTS Company

China: CIC raising US$8b for Logicor deal

By  |  July 30, 2017

To fund its acquisition of the warehouse firm Logicor, the Chin Investment Corp (CIC) is arranging a US$7.99 billion loan.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    In June, CIC agreed to pay Blackstone Group US$14.34 billion to buy Logicor.

    CIC is a sovereign wealth fund and with this deal it will be one of only three Asian sovereign wealth funds that have raised funds from the loan market to finance overseas acquisitions.

    Reuters reported that the Bank of China and China Construction Bank are expected to lend a combined US$4.46 billion and that the remaining US$3.52 billion will come from other banks.

    Full Content: The New York Times

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.