Hey mate....syndicated facilities are designed so lenders can come and go, with one document defining how the facility is operated by the borrower, with a multitude of lenders.
Financing hasn't disappeared, the three French banks have decided to leave the syndicated. I'll give it that it's unusual to occur before draw down occurs, as you'd normally see if on a expiry of term or refi, but they have been waiting for 2.5 years for HFR to draw down.
I'd say the French lenders has some issue with lending. to Chinese controller company, particularly when that Chinese company is YanCOAL. Last time I checked, big tier one banks didn't like lending to coal.
We are potash but major shareholder a coal miner.
I'm sure DBS will find replacement lenders stat as it is a PC to transaction completion
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