BIL loan bumped to US$162m

BRIERLEY Investments Ltd (BIL) has had its US$100 million loan facility increased 62 per cent after a successful syndication.

Arranger Westpac Banking Corp said the 31/2-year facility was increased to $162 million and the deal had attracted a consortium of 18 banks from Singapore, Japan, Hong Kong, Europe, North America, Australia and New Zealand.

The deal paid 65 basis points (0.65 percentage points) over the London interbank offered rate, and offered an all-in yield to top-level participants of 74.3 basis points.

Brierley said proceeds from the facility would be used for general corporate funding.