ChemChina Said to Get Line of Credit Worth US$ 50 Bln to Buy Swiss Firm

(Beijing) – China National Chemical Corp. has secured a US$ 50 billion line of credit from a group of banks so that it can buy the Swiss agrochemicals company Syngenta AG, a person close to the deal says.

ChemChina said on February 3 it reached a deal to purchase the pesticide and seed company for US$ 43 billion. The state-owned company said the transaction includes a special dividend of 5 Swiss francs per share to be paid immediately and an extra dividend of 11 Swiss francs to shareholders in May.