Citibank to lead-manage 5 bil. dlr loan for JT.TOKYO, March 24 Kyodo Citibank will lead-manage a 5 billion dollar syndicated loan Syndicated Loan A very large loan in which a group of banks work together to provide funds for one borrower. There is usually one lead bank that takes a small percentage of the loan and syndicates the rest to other banks. Notes: Also known as a "syndicated bank facility. to help Japan Tobacco Inc. (JT) buy the overseas tobacco operations of RJR Nabisco RJR Nabisco, Inc., was an American conglomerate formed in 1985 by the merger of Nabisco Brands and R.J. Reynolds Tobacco Company. RJR Nabisco was purchased in 1988 by Kohlberg Kravis Roberts & Co. in the second largest leveraged buyout in history, adjusted for inflation. Holdings Corp. of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , the major U.S. bank said late Tuesday. Banks from Japan, the U.S. and Europe will join the syndicate Syndicate organized crime unit throughout major cities of the United States. [Am. Hist.: NCE, 2018] See : Gangsterism for the one-year loan, Citibank said. JT said early March it has agreed to purchase the overseas tobacco operations of RJR Nabisco for about 7.8 billion dollars in the largest ever takeover of a foreign firm by a Japanese company. The syndicated loan will account for more than 60% of the acquisition price to be paid by JT, Japan's former tobacco monopoly which was privatized in 1985. |
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