Wheelock to increase its loan facility

Strong market reception has prompted Wheelock and Co to increase its five-year revolving credit-term loan facility to $4.5 billion from the original target of $3 billion.

General syndication of the facility is expected to be launched soon.

The expanded arranger group for the facility was completed and oversubscribed at the sub-underwriting level of 1.7 times the original issue size, the arrangers said.

The arrangers are Banque Nationale de Paris, Citicorp International, J P Morgan Securities Asia and Natwest Markets.