Santander, Samarco Closing Loans

Santander Brazil and Samarco are both closing syndicated loans in the next 2 weeks, according to bankers on the deals. Santander Brazil will be closing a $150m syndicated loan this week, according to bankers with knowledge of the transaction. Mizuho and Standard Chartered are bookrunners on the 2-year bullet, which has been marketed to Asian investors. The financing will be used for working capital, adds the banker. Meanwhile, Brazilian iron ore miner Samarco will be closing a $400m 5-year syndicated loan within the next 2 weeks, says a banker on it. The lead arrangers, which are committing $80m each, are SMBC, HSBC, BNP, RBS and ING. The loan will be used for general corporate purposes, and go towards funding a $3bn expansion plan for 2011, adds the banker.