Sigma PharmaceuticalsÆ A$500 million dual tranche loan was completed last week on a club basis via four mandated lead arrangers, namely ANZ, Commonwealth Bank of Australia, National Australia Bank and Westpac.
The loan is split into A$300 million three-year and A$200 million one-year revolvers.
Allocations saw ANZ and Westpac contribute A$170 million apiece, while National Australia Bank and Commonwealth Bank of Australia took A$90 million and A$70 million respectively.
Proceeds are to refinance existing debt.
China
An approximately Rmb2 billion seven-year credit for AU Optronics (Xiamen) has been solely mandated to Bank of China (Xiamen Branch).
The deal pays a spread of 100% of the PBOC rate. Syndication is expected to be launched in mid-October.
Proceeds are to support the construction of two TFT-CCD plants in Xiamen.
Shandong Chenming Paper HoldingsÆ $80 million three-year financing was sealed last week via mandated arrangers Commerzbank (Shanghai branch), Nordea Bank (Shanghai branch), Sumitomo Mitsui Banking Corp and Swedbank (Shanghai branch). Sumitomo Mitsui Banking Corp was acting as the sole bookrunner.
The facility features an average life of 2.625 years and a margin of 255bp over Libor.
Final allocations saw Sumitomo Mitsui Banking Corp and Nordea Bank (Shanghai branch) holding $13.6 million apiece, while Commerzbank (Shanghai branch) and Swedbank (Shanghai branch) took $6.8 million each.
Lead arrangers Nanyang Commercial Bank (Guangzhou Branch) gave $6.3 million, while Bangkok Bank, Intesa Sanpaolo (Shanghai Branch), Oversea-Chinese Banking Corp (Guangzhou Branch) and United Overseas Bank (Shanghai Branch) provided $4.5 million apiece.
Coming in as arrangers were National Bank of Egypt (Shanghai Branch) and Wing Lung Bank (Shanghai Branch), which contributed $3.6 million each, while Dah Sing Bank held $2.9 million. Korea Development Bank (Beijing Branch) and Wing Hang Bank (Shenzhen Branch) committed $2.4 million apiece.
Funds are to refinance existing debt and for working capital requirements.
India
Ballarpur Paper HoldingsÆ $560 million dual-tranche fundraising has seen Bank of Baroda and NordLB join as equal status lead arrangers.
The debt package is split equally into five-year and seven-year term loans. The margin was flexed up by 90bp, and the new spread for the five- and seven-year financing is now 335bp and 365bp over Libor respectively.
Proceeds are for refinancing purposes.
A $100 million three-year transaction for Industrial Development Bank of India was signed on September 19 via mandated lead arrangers BNP Paribas, Intesa Sanpaolo, Kommunalkredit International Bank and RZB Bank. BNP Paribas was acting as the sole bookrunner.
The margin is priced at 105bp over Libor.
Allocations saw Kommunalkredit International Bank take $25 million, while BNP Paribas and Intesa Sanpaolo committed $22.5 million apiece. RZB Bank took $20 million. Coming in as arrangers were Bank Leumi Le-Israel and Mega International Commercial Bank, giving $5 million each.
Proceeds are for general corporate purposes.
Japan
A $1.8 billion one-year revolving credit for Nissan Motor and Nissan Motor Acceptance Corp has been signed via sole mandated lead and bookrunner Citi.
Syndication saw 11 other banks joining in, namely BNP Paribas, Bank of Tokyo-Mitsubishi UFJ, Calyon, Deutsche Bank, HSBC, J.P. Morgan, Mizuho Corporate Bank, Royal Bank of Scotland, Societe Generale, Standard Chartered Bank and Sumitomo Mitsui Banking Corp.
Proceeds are for general corporate purposes.Malaysia
MISC CapitalÆs $1 billion five-year transferable term loan was completed yesterday (September 25) via a group of eight mandated lead arrangers.
Oversea-Chinese Banking Corp provided $200 million, while Bank of Tokyo-Mitsubishi UFJ and Mizuho Corporate Banking contributed $125 million apiece. BNP Paribas and Sumitomo Mitsui Banking Corp each lent $122.5 million, while Intesa Sanpaolo and ING gave $100 million and $75 million respectively. Arranger DBS and DZ Bank committed $40 million each and Cathay United Bank and Mega International Commercial Bank each held $25 million.
Guaranteed by MISC, the transaction is priced at 100bp over Libor and there is no commitment fee for this deal.
Proceeds are for general corporate purposes.
Petronas Lubricants International (PLI)Æs Ç850 million five-year bullet facility was completed late last week via nine mandated leads as a club deal.
Intesa Sanpaolo is providing Ç200 million. Bank of Tokyo-Mitsubishi UFJ and ING Bank are committing Ç115 million apiece. BNP Paribas and Oversea-Chinese Banking Corp are giving Ç80 million each, while DBS Bank, HSBC and Sumitomo Mitsui Banking Corp are holding Ç70 million apiece. Calyon rounded out the group with Ç50 million.
Proceeds are to refinance a Ç950 million bridge loan dated November 2007.
Singapore
Syndication of a $200 million 364-day revolving credit for Trafigura Beheer was launched earlier this month via mandated lead arrangers and bookrunners Standard Chartered Bank, UOB Asia and Westpac.
The bullet loan pays a spread of 75bp over Libor. Mandated lead arrangers joining with $30 million or above get an upfront fee of 30bp, while lead arrangers and arrangers coming in with $20 million to $29 million take 25bp and those committing $10 million to $19 million get 20bp.
Proceeds are to refinance an existing debt facility.
South Korea
Hyundai Motor Manufacturing AlabamaÆs $200 million debt package was sealed as two separate equal loan agreements via sole bookrunner Sumitomo Mitsui Banking Corp.
A $100 million one-year revolver was signed last month via mandated arrangers Bank of America and Sumitomo Mitsui Banking Corp.
The margin is priced at 85bp over Libor.
Allocations saw Sumitomo Mitsui Banking Corp provide $45 million, while Bank of America took $30 million. Coming in as a lead arranger was Woori Bank, taking $15 million, while Fifth Third Bank held $10 million as a co-lead arranger.
A second $100 million three-year fundraising was completed on September 22 via mandated leads Landesbank Baden-Wuerttemberg, Mizuho Corporate Bank and Sumitomo Mitsui Banking Corp.
This loan pays a spread of 135bp over Libor.
Final allocations saw Sumitomo Mitsui Banking Corp contribute $34.5 million, while Landesbank Baden-Wuerttemberg and Mizuho Corporate Bank lent $20 million apiece. Chinatrust Commercial Bank took $10 million as a co-lead arranger. Rounding off the syndicate as arrangers were Chang Hwa Commercial Bank (New York Branch) with $5.5 million and Cathay United Bank and Nanyang Commercial Bank (San Francisco Branch) with $5 million apiece.
Proceeds are for working capital requirements.
Shinhan BankÆs $210 million one-year revolver was completed on September 22 as a club deal via a consortium of eight mandated arrangers.
The deal pays a spread of 80bp over Libor.
Final allocations saw Barclays Capital, BNP Paribas and Commerzbank commit $30 million apiece. Calyon, Chinatrust Commercial Bank, HSBC and HSH Nordbank provided $25 million each while Mizuho Corporate Bank held $20 million.
The funds are to refinance an existing $300 million facility signed in August 2007.
Taiwan
Eastern BroadcastingÆs NT$2.3 billion five-year dual-tranche financing was upsized from NT$2 billion and completed on September 19 via bookrunners Chinatrust Commercial Bank, Mega International Commercial Bank and Taipei Fubon Commercial Bank.
The financing comprises a NT$1.8 billion amortising term loan and a NT$500 million revolver. The margin, which is adjusted according to a leverage ratio, starts at 270bp and has a floor of 185bp. The commitment fee is 25bp for the revolving credit.
The bookrunners contributed NT$550 million each, while coordinating arranger EnTie Commercial Bank lent NT$400 million and participant Bank SinoPac provided NT$250 million.
Proceeds are to refinance an existing debt facility and for working capital purposes.
An $81 million three-year multi-tranche facility for Grand Capital International was inked last week through mandated lead arrangers and bookrunners Cathay United Bank, Mega International Commercial Bank and Taishin International Bank.
The deal is split into a $48.6 million term loan, a $32.4 million revolver and a $23.4 million stand-by credit. The total outstanding amount of the revolving and stand-by credit cannot exceed $32.4 million. The debt facility pays a spread of 95bp over Libor for the term loan and revolver, and has a 95bp guarantee fee for the stand-by credit. The commitment fee is 25bp.
The coordinating arrangers each lent $15 million and co-arranger Shanghai Commercial & Savings Bank gave $10 million. Lead manager Bank of Kaohsiung, Chang Hwa Commercial Bank, Jih Sun International Bank, and Shin Kong Commercial Bank contributed $5 million apiece, while Taiwan Business Bank and Taiwan Cooperative Bank gave $3 million each.
Proceeds are for refinancing and general working capital purposes.
TatungÆs NT$3 billion five-year unsecured facility was sealed earlier this month via a group of six mandated leads.
First Commercial Bank committed NT$600 million and Agricultural Bank of Taiwan, Chang Hwa Commercial Bank, Land Bank of Taiwan and Taiwan Cooperative Bank lent NT$500 million apiece. Mega International Commercial Bank took NT$300 million. Lead managers Taiwan Business Bank and Taichung Commercial Bank each contributed NT$200 million.
Guaranteed by the chairman of Tatung and Shan-Chih Asset Development, the transaction is priced at 65bp over the two-, three- or six-month secondary CP rate. Proceeds are for working capital purposes.
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