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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.

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

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