Australia's big four banks are among 25 lenders who have picked up a share of BHP Billiton Ltd.'s (BHP) US$45 billion syndicated loan facility for its takeover bid for Potash Corp. of Saskatchewan Inc. (POT).

A term sheet issued over the weekend by lead managers Santander, Barclays Capital, BNP Paribas, J.P. Morgan and Royal Bank of Scotland, confirmed the syndicate would be divided evenly between the 25 banks in the syndicate.

Each bank--including Australia & New Zealand Banking Group Ltd. (ANZ.AU), Commonwealth Bank of Australia (CBA.AU), National Australia Bank Ltd. (NAB.AU) and Westpac Banking Corp. (WBK)--will provide US$1.8 billion of funding for the $38.6 billion hostile bid.

Other banks on the syndicate include Banco Bilbao Vizcaya Argentaria, The Bank of Tokyo-Mitsubishi UFJ, Ltd, Canadian Imperial Bank of Commerce, Credit Agricole Corporate and Investment Bank; ING Bank N.V.; Intesa Sanpaolo S.p.A. London Branch; Lloyds TSB Bank plc; Mediobanca SpA; Mizuho Corporate Bank, Ltd; Scotia Capital; Societe Generale Corporate and Investment Banking; Standard Chartered Bank; Sumitomo Mitsui Banking Corporation; UBS Investment Bank and UniCredit Bank AG.

Toronto Dominion Bank has committed to the facilities as lead arranger and bookrunner.

BHP last month launched an all-cash offer of $130 a share direct to Potash Corp.'s shareholders after the Potash Corp.'s board of directors rejected the offer as "grossly inadequate".

-By Rebecca Thurlow, Dow Jones Newswires; 61-2-8272-4679; rebecca.thurlow@dowjones.com
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