Shuanghui International Holdings Ltd. signed a US$4 billion syndicated loan agreement on September 2 with a group of eight banks to finance its planned Smithfield Foods deal.

The eight banks includes BOC Hong Kong (Holdings) Limited, Rabobank Nederland, Banque de I'IndoChine, Development Bank of Singapore, Natexis Banques Populaires, Royal Bank of Scotland, Standard Chartered Bank and Industrial and Commercial Bank of China.

The syndicated loan comprises a US$2.5 billion three-year loan and a US$1.5 billion five-year loan.

Shuanghui International Holdings is the controlling shareholder of China's largest pork processing enterprise Henan Shuanghui Industry Group Co., Ltd. In late May this year, Shuanghui International Holdings announced its intention of acquiring the world's largest meat processor Smithfield Foods with US$4.7 billion, representing the biggest Chinese takeover of an American company in history.