Argentina’s Aluar Raising $150m Loan

Argentine aluminum company Aluar is in the market with a $150m 3.5-year loan at Libor plus 115bp, according to bankers close to the deal. The loan is secured by receivables and will look to close by the end of 2007. The facility is being led by Calyon and JPMorgan and should be conducted as a club deal, with the company’s relationship banks expected to participate.