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Apr

14

Shell Gets Bridge Loan From Bank of America for BG Group Deal

By Tony Seruga

Royal Dutch Shell Plc said it agreed a 3.025 billion pound ($4.53 billion) loan from its financial adviser Bank of America Corp. to help fund its purchase of BG Group Plc.

Shell entered into an 18-month bridge loan with Bank of America to help finance the cash portion of the deal, according to a statement on its website. The financing, which can be extended by six months, will pay an initial interest margin of 0.15 percentage point a year for the first three months, according to the statement. The rate will rise by 0.2 percentage point every three months to a margin of 1.55 percentage points after 21 months, the statement shows…

Shell Gets Bridge Loan From Bank of America for BG Group Deal

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