SAN FRANCISCO - Bank of America said it arranged a $149 million financing for an investor consortium led by Wisconsin Central Transportation Corp. to purchase New Zealand Rail Ltd.

The BankAmerica Corp. unit said it arranged two five-year facilities, a $99 million term loan and a $50 million revolving credit.

The company said Bank of New Zealand and ANZ Banking Group were part of the transaction.

The consortium acquired stock ownership of New Zealand Rail from the New Zealand government in September for a total purchase price of about $222 million.

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