BankBoston Corp. said Monday that it completed syndication of a $100 million secured revolving credit facility for APP Paper Trading, Singapore.
The borrower, a unit of Asia Pulp and Paper Co. in Singapore, will use the credit to finance inventory as well as receivables generated from the sale of the inventory.
The loan was oversubscribed by 22%, BankBoston said.
BankBoston NA acted as coordinating arranger on the deal. Arrangers included Dresdner Kleinwort Benson, Development Bank of Singapore Ltd., and Bayerische Hypo-Und Vereinsbank.