Chinese Banks Help Underwrite CIC Acquisition of Logicor
In June, the China Investment Corporation’s (CIC) moved to acquire European warehouse firm Logicor from The Blackstone Group €12.25 billion, essentially the biggest private equity real estate deal in Europe. To pay for the deal, the CIC is arranging a €6.8 billion loan to fund the buyout. China Construction Bank and Bank of China jointly have underwritten the loan, so far at €3.8 billion. The remainder is being syndicated to other banks.
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