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Large Medium SmallShuanghui International Holdings Ltd received a $7.9 billion financing from Bank of China, New York Branch and Morgan Stanley for its purchase of Smithfield Food Inc.
Bank of China will provide a $4 billion fixed loan to Shuanghui for the acquisition of Smithfield, while Morgan Stanley Senior Funding Inc will provide $3.9 billion to repay Smithfield's debt, according to a filing made by Smithfield to the United States' Securities and Exchange Commission on Tuesday.
The acquisition valued Smithfield at $7.1 billion, including debt. Shuanghui plans to build a leading global pork company after combining Smithfield.
In addition to the financing, Morgan Stanley will also provide a $750 million revolving loan, a $1.65 billion fixed loan and a $1.5 billion stopgap loan, the filing said.
The loans from Morgan Stanley will be primarily used to repay debt.
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