CMPC Preps $600m Loan Package

CMPC is heard preparing a $400m term loan and $200m revolver, according to market participants. Additional details on the facilities were expected to emerge at a bank meeting scheduled for today. The Chilean pulp and paper company deal has mandated Bank of America Merrill Lynch, Bank of Tokyo-Mitsubishi, JPMorgan and Scotia as leads. CMPC last tapped the loan market in 2008, for a $250m 5-year at Libor+55bp, via BBVA, BNP Paribas, BOTM, Santander and Export Development Canada. It has since borrowed from the bond market twice, for $500m each in 2009 and 2011.