Rio Tinto finalizes term loan to fund Alcan Inc. takeover

Rio Tinto Ltd [s:rtp] has completed the subunderwriting phase of the $40 billion term loan to fund its $38.1 billion acquisition of Canada's Alcan Inc. [s:al], the company said Thursday in a statement to the Australian Securities Exchange. Rio Tinto said it had little trouble raising the term loan despite recent volatility in the global credit market. It added the term loan was more than one-third oversubscribed. Banks participating in the financing include Royal Bank of Scotland, Deutsche Bank, Credit Suisse and Societe Generale.