HONG KONG, Sept 26 (IFR) - Syngenta has postponed plans to issue US dollar bonds, sources have said.
The company, which was looking at a multi-tranche issue to refinance bridge loans ChemChina raised for its US$43bn takeover of the Swiss chemical maker, sent a notice to investors that said: "The company has had productive meetings with potential investors and intends to come to market in the coming months."
Syngenta was planning to market notes with maturities of up to 30 years. CreditSights earlier estimated the deal size at around US$7bn.
BNP Paribas, Citigroup, Credit Suisse, HSBC, MUFG and Santander had been mandated for the proposed offering, and met fixed-income investors starting September 11. Syngenta also said it may use its US$7.5bn Euro Medium Term Note programme for further issuances. (Reporting by Umesh Desai, Frances Yoon)