Reuters UK
15 Jul 2008
SINGAPORE, July 15 (Reuters) - Neptune Orient Lines (NEPS.SI: Quote, Profile, Research), undaunted by the global credit crunch, is seeking bold terms for a loan of up to $7 billion to finance a takeover bid for Germany's Hapag-Lloyd, banking sources said on Tuesday.
NOL is seeking a "covenant-lite" two-year loan, with an indicative price of 150 basis points above London Interbank Offered rate, sources said. The premium over LIBOR includes fees and margins.
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