MISC supersizes loan

Malaysian state-controlled shipowner MISC has set up a new loan deal worth $1.55bn.

A banker cited by the Global Capital website said the company now has sufficient commitments from between eight and 10 lenders to sign off on the facility.

The financing has been increased from $700m with banks including Bank of Tokyo, BNP Paribas, DBS, HSBC, Mizuho, OCBC, Standard Chartered and SMBC.

It will consist of a $400 portion maturing over three year, plus a seven-year loan of $1.15bn.

Many of the lenders took part in the owner's $1bn facility agreed in September 2013.