Bright Food Tops Banks With $800 Million Loan: Corporate Finance

Bright Food Group Co., the Chinese company buying wine merchants in France and cereal makers in Britain, is cutting interest costs by as much as a third as it benefits from foreign lenders eager to build better relations.

In what bankers say is the first offshore loan to a Chinese company that doesn’t carry fees, Bright Food would pay an interest margin of 230 basis points over the London interbank offered rate for the financing of about $800 million, people familiar with the matter said this month. Dollar-denominated loan margins globally have averaged 344.1 basis points this quarter, according to data compiled by Bloomberg.