China National Chemical Corp (ChemChina) is setting up a fund that will aim to raise $5 billion to help finance its purchase of Swiss seeds group Syngenta, two sources with direct knowledge of the matter told Thomson Reuters publication Basis Point. The financing structure entails investors committing to the fund, which would in turn own equity in Syngenta, the people said – a move that would help the state-owned firm lower the debt burden of its planned $43 billion acquisition. Overall, ChemChina is targeting about $25 billion in equity commitments to help fund the largest ever foreign purchase by a Chinese firm, the people added. Sources have previously said it has arranged $32.9 billion in bridge loans with more than 20 lenders, including Chinese, European and other Asian institutions.