Minmetals seeks $250m loan

China Minmetals Corp is seeking a loan of at least $250 million, according to three people familiar with the matter.

China Minmetals, which is arranging the loan by itself, is paying a margin of about 190 basis points more than the London interbank offered rate on the loan, said the people, who asked not to be identified.

The borrower is offering an all-in rate, which includes margin and fees, of about 240 basis points to banks committing $100 million, according to the people.