In the latest in a growing number of syndicated financings for Chinese corporations, First Chicago NBD Corp. has arranged a $45 million loan for China Ocean Shipping Co., the Chinese state-owned shipping corporation.

Paul S. Muther, managing director at CCIC Finance Ltd., First Chicago's Hong Kong-based merchant banking joint venture with Bank of China, said he expected the transaction to be closed by Friday. He declined to provide any details in advance of a formal announcement of the deal, but said that CCIC is considering seven more China-related transactions.

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