Chinese state-owned BEIJING AUTOMOTIVE CROUP has mandated four banks for a €2.2bn-equivalent (US$2.45bn) three-year loan to back its acquisition of a 5% stake in German automaker Daimler. The mandated lead arrangers, bookrunners and underwriters are Bank of China, Credit Agricole CIB, DBS Bank and Natixis. The quartet pre-funded the deal, which is available in euros and US dollars and is expected to be launched into syndication.
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