Australia
Adelaide Brighton’s A$400 million multi-tranche revolver was signed last Thursday (June 23) on a club basis through Commonwealth Bank of Australia, National Australia Bank and Westpac.
Final allocations saw Westpac provide A$140 million while Commonwealth Bank of Australia and National Australia Bank committed A$130 million each. Proceeds are to refinance existing indebtedness.
A A$750 million three-year revolver for Gandel Bridge Finance has been completed on a club basis through a consortium of five mandated lead arrangers.
Final allocations saw Westpac contribute A$250 million while ANZ and Commonwealth Bank of Australia lent A$200 million and A$150 million respectively. National Australia Bank gave A$120 million while HSBC joined in with A$30 million. Proceeds are to repay existing debt.
China
Citic Guo An Group has obtained a Rmb550 million three-year term loan through bookrunners Morgan Stanley and Natixis.
Syndication saw mandated leads China Everbright Bank take Rmb250 million while Natixis joined in with Rmb200 million. Arranger Wing Lung Bank ended up with Rmb100 million.
Proceeds are for refinancing and general corporate purposes.
Hong Kong
Haitong International Securities Group’s HK$1.4 billion three-year dual-tranche facility has been signed through bookrunners and mandated lead arrangers Bank of China and HSBC. The deal was upsized from HK$1 billion.
The facility consists of a HK$552 million term loan and an HK$828 million revolving credit.
Chong Hing Bank, Hang Seng Bank and SMBC joined in as lead managers while Wing Hang Bank acted as a senior manager.
Proceeds are for debt repayment purposes.
Coordinator Standard Chartered has concluded a HK$900 million financing for its subsidiary PrimeCredit through a consortium of 10 mandated lead arrangers.
The two-year transaction, which is split into a HK$180 million revolving credit and a HK$720 million term loan, offers a margin of 100bp over Hibor.
The mandated lead arrangers were Bank SinoPac, Chang Hwa Commercial Bank, DBS, Far Eastern International Bank, First Commercial Bank, Hua Nan Commercial Bank, Mega International Commercial Bank, Mizuho Corporate bank, SMBC and Taiwan Business Bank.
Proceeds are for general corporate purposes.
India
Infrastructure Development Finance - IDFC has obtained a $200 million five-year term loan through mandated lead arrangers and bookrunners Bank of Nova Scotia, Bank of Tokyo-Mitsubishi UFJ and Goldman Sachs.
Thanachart Bank joined in as a mandated lead arranger while Cathay United Bank, Chinatrust Commercial Bank and Jih Sun International Bank came in as arrangers. Chang Hwa Commercial Bank participated as a lead manager.
Proceeds are for working capital purposes.
Kharkia Steel’s Rs1.4 billion 8.5-year term loan has been successfully sealed through sole bookrunner and mandated lead arranger SBI Capital Markets. The fundraising is sponsored by Kharkia Group and will be repaid in 22 quarterly installments after a three-year grace period. The facility is priced at 475bp over SBI Base Rate.
Final allocations saw participants State Bank of India pledge Rs400 million while United Bank of India committed Rs250 million. Allahabad Bank, Karur Vysya Bank and State Bank of Mysore gave Rs200 million each while Indian Bank ended up with Rs128 million.
Proceeds are for project financing purposes.
Tata Communications’ $525 million five-year refinancing has been closed through bookrunners ANZ, DBS, ING, Royal Bank of Scotland and Standard Chartered.
The term loan offers a spread of 290bp over Libor.
Export Development Canada acted as the mandated lead arranger while Bank of Taiwan, King’s Town Bank and Union National Bank came in as managers.
Indonesia
General syndication of a $450 million five-year term loan for Trans Media Corpora and Televisi Transformasi Indonesia has been closed through underwriters ANZ Panin Bank, BNP Paribas, Citi, Credit Suisse, HSBC, ING, J.P. Morgan, RBS and Standard Chartered.
Syndication saw Bank of China and Bank Danamon Indonesia joined in as mandated lead arrangers while Bank of Tokyo-Mitsubishi UFJ, Bank ICBC, Bank Pan Indonesia and Raiffeisen Bank International came in as lead arrangers. Banco De Oro Unibank, Cathay United Bank and Chang Hwa Commercial Bank participated as arrangers.
Proceeds are to refinance a $350 million 1.5-year bridge facility signed August 2010.
Macau
Melco Crown Gaming (Macau)’s $1.2 billion five-year dual-tranche facility was successfully signed last week (June 22) through a consortium of 18 banks. The transaction is split into an $800 million term loan and a $400 million revolver.
Bookrunners for the facility were ANZ, Bank of America, Bank of China, Commerzbank and Deutsche Bank while Banco Nacional Ultramarino, Citi, National Australia Bank and RBS joined in as coordinating arrangers. Bank of East Asia, Bank of Nova Scotia, China Construction Bank, Credit Suisse, Banco Comercial de Macau, Banco Comercial Portugues, Commonwealth Bank of Australia, Tai Fung Bank and Wing Lung Bank joined in at lower levels.
Proceeds are to refinance an existing facility signed in December 2007 for Melco Crown’s City of Dreams resort.
South Korea
Korea Development Bank’s $150 million three-year term loan has been signed through joint bookrunner and mandated lead arranger ANZ, Citibank, Mega International Commercial Bank and United Overseas Bank.
Syndication saw Bank of Taiwan come in as mandated lead arranger while Bank of Montreal, Chang Hwa Commercial Bank, First Commercial Bank, Land Bank of Taiwan and Yamaguchi Bank joined in at lower levels.
Proceeds are for general corporate purposes.
Singapore
Wii, the wholly-owned subsidiary of Wilmar International, has secured a $1.6 billion multi-tranche facility through bookrunners BNP Paribas, Citi, DBS, HSBC, OCBC and SMBC. The facility was upsized from $1.5 billion to accommodate oversubscription of the financing.
Guaranteed by Wilmar International, the revolving credit is split into a $614 million one-year tranche, a $500 million two-year portion and a $500 million three-year facility.
Final allocations saw the bookrunners and mandated lead arrangers Bank of Tokyo-Mitsubishi UFJ and Mizuho Corporate Bank take $150 million each while arrangers Westpac contributed $75 million. Commonwealth Bank of Australia, Credit Agricole and Deutsche Bank committed $50 million each while Bangkok Bank and KBC gave $30 million respectively. Banco Santander joined in with $25 million while managers RHB Bank came in $24 million. First Commercial Bank held $15 million while Bank of Kaohsiung, Chang Hwa Commercial Bank, Hua Nan Commercial Bank, Taishin International Bank, Taiwan Business Bank and Taiwan Cooperative Bank pledged $10 million each. Chiba Bank rounded up the syndicate with $5 million.
Proceeds are for general corporate and working capital purposes.
Taiwan
Glotech Technical Materials Corp’s NT$1.4 billion multi-tranche deal was completed last week through Bank of Taiwan, Far Eastern International Bank, First Commercial Bank, Land Bank of Taiwan and Taiwan Cooperative Bank.
The deal comprises a NT$1.2 billion seven-year term loan and a NT$200 million five-year revolver which are priced at 150bp over the secondary CP rate with a 2% interest rate floor.
General syndication saw Bank of Panhsin, Bank Sinopac, Chang Hwa Commercial Bank, Hua Nan Commercial Bank and Mega International Commercial Bank came in at lower levels.
Proceeds are for refinancing existing indebtedness, capital expenditure and working capital requirements.
Sole bookrunner Cathay United Bank sealed a NT$1.8 billion five-year ship financing for New Flagship Investment on Monday (June 27).
Agricultural Bank of Taiwan, Entie Commercial Bank, Jih Sun International Commercial Bank and King’s Town Bank were invited to join as arrangers.
Quintain Steel secured a NT$2.3 billion five-year multi-purpose loan last week through a consortium of 16 banks.
The upsized loan is split into a NT$1.1 billion term loan portion and a NT$1.2 billion revolving credit segment.
Bookrunners were Agricultural Bank of Taiwan, Chang Hwa Commercial Bank, Chinatrust Commercial Bank, DBS, Entie Commercial Bank, Jih Sun Commercial Bank and Taiwan Cooperative Bank while Bank of Panhsin, Hua Nan Commercial Bank, International Bills Finance Corp, Mega Bills Finance Corp, Shanghai Commercial & Savings Bank, Ta Chong Bank, Taishin International Bank, Taiwan Business Bank and Yuanta Commercial Bank contributed as participants.
Proceeds are for refinancing the NT$1.3 billion facility signed in 2008, capital expenditure and working capital purposes.
A NT$580 million five-year debt for TopGreen Technology has been concluded through sole mandated lead arranger Taiwan Cooperative Bank.
General syndication attracted eight banks to participate in this transaction. Proceeds are for refinancing existing debt and working capital purposes.
Thailand
Index Living Mall’s Bt4 billion multi-tranche facility was signed last week (June 20) through sole mandated lead arranger Siam Commercial Bank.
The deal consists of two nine-year tranches with Bt2.1 billion and Bt1.5 billion respectively, and a Bt400 million one-year portion.
Syndication saw the lead bank provide Bt2.4 billion while participant Krung Thai Bank took Bt1.6 billion.
Proceeds are to repay debt, support the construction of new company branches and for working capital requirements.
