Business / Companies

Sany wins banks' backing for loan

(China Daily) Updated: 2012-05-22 13:14

Sany Group Co, the owner of China's biggest machinery maker, got commitments from 10 banks for its $200 million-equivalent three-year loan, according to a person familiar with the matter.

Bank Sinopac, Chinatrust Commercial Bank and Tai Fung Bank Ltd committed $17 million each, while Cathay United Bank Co pledged $15 million and Nanyang Commercial Bank Ltd provided HK$132.6 million ($17 million), the person said, asking not to be identified because the details are private.

HSBC Holdings Plc, the loan's arranger and bookrunner, committed $25 million.

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