Deals Rumor Mill: Equate, Bain Capital, Stremicks Heritage

By Benjamin Horney (October 26, 2015, 7:03 PM EDT) -- Equate Petrochemical Co. has tapped JP Morgan Chase & Co., Citigroup Inc., HSBC Holdings PLC, Kuwait Finance House and National Bank of Kuwait to arrange a $6 billion loan, roughly $3 billion of which will be directed toward Equate's recently announced acquisition of MEGlobal, Reuters reported on Monday. According to the report, the other half will be used to refinance Equate's existing debt, as well as for "other general corporate purposes." The MEGlobal acquisition, announced last week, saw Equate agree to pay Dow Chemical Co. $3.2 billion for the unit, a Dubai-based manufacturer of monoethylene glycol and diethylene glycol that was created as a joint venture between Dow and Petrochemical Industries Co. of Kuwait....

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