INDIA'S NALCO LOAN INCREASED TO 300 MLN DLRS
The proposed 250 mln U.S. Dlr
syndicated loan for <National Aluminium Co Ltd> Nalco of India
has been increased to 300 mln dlrs due to over-subscription,
lead manager Chemical Asia Ltd said.
    The 10 year loan, with a six year grace period, is in two
tranches. Tranche A of 279 mln dlrs carries interest at 1/4
percentage point over London interbank offered rate (Libor) for
the first six years, rising to 3/8 point thereafter.
    A total of 124 mln dlrs was raised in syndication for
tranche A, originally set at 229 mln dlrs. The remainder will
be provided by the lead managers.
    There are 15 lead managers, six managers, eight co-managers
and 14 participants in the conventional tranche.
    The 21 mln dlr Belgian tax-spared tranche carries interest
at one basis point over Libor throughout its life. Funds will
be provided by Bank of Yokohama, Credit Lyonnais, Mitsui Trust
and Banking Co Ltd and Saitama Bank.
 REUTER
