Aug. 1 (Bloomberg) -- Beijing Enterprises Water Group Ltd., the biggest publicly traded developer of water-treatment systems in China, is seeking lenders for a $120 million syndicated loan, part of financing arranged by the Asian Development Bank
Australia & New Zealand Banking Group Ltd. is the underwriter of the 7-year loan with put options exercisable at the lenders’ discretion at the end of the fifth year, according to two people familiar with the offering, who asked not to be identified because they’re not authorized to speak publicly. Responses are due Aug. 26.
The loan is the commercial portion of $240 million of A/B financing from the Asian Development Bank. The ADB itself is lending $120 million in a 10-year A loan to the company.
In A/B financing, a borrower signs an agreement with a development bank, which retains a part of the loan, known as the A loan, and distributes the rest -- the B loan -- to commercial banks.
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