BASIS POINT-Amcor gets US$1.2 bln loan to fund Rio asset buyout

MELBOURNE, Aug 10 (Reuters Basis Point) - Australian packaging company Amcor Ltdis finalising a US$1.2 billion loan to partially fund its buyout of part of Rio Tinto Ltd's Alcan packaging business, banking sources said. The deal has been fully subscribed, said one of the sources. Banks were asked to commit to a minimum US$100 million by July 31. The margin is around 350 basis points over Libor and the deal has three- and five-year tenors. The self-arranged deal is expected to close in a couple of weeks, the source said. The company last month confirmed it was in talks with Rio Tinto over the acquisition of the assets, but said the discussions were incomplete. Reuters reported in July that Amcor was close to a deal that could be valued at up to US$2.4 billion and flagged that a A$1.5 billion capital raising was possible if the company was successful in reaching an agreement. (Reporting by Sharon Klyne)