Australia
National Wealth Management Holdings, a wholly-owned subsidiary of National Australia Bank, has secured a A$225 million financing through mandated lead arrangers and bookrunners Bank of China, Chinatrust Commercial Bank, Mega International Commercial Bank and National Australia Bank.
Syndication saw Bank of Taiwan, Cathay United Bank, Chang Hwa Commercial Bank, Chiba Bank, First Commercial Bank, Hua Nan Commercial Bank, Land Bank of Taiwan, Shanghai Commercial & Savings Bank, Taishin International Bank, Taiwan Business Bank, Taiwan Cooperative Bank and United Taiwan Bank join in as lead arrangers. Jin Sun International Bank and Hwatai Bank came in as arrangers.
The bullet loan was oversubscribed and upsized from A$200 million. Proceeds are for general corporate purposes.
China
China Rongsheng Heavy Industries Group Holdings has successfully obtained its debut offshore syndicated loan of $220 million through sole bookrunner Credit Agricole.
The deal is guaranteed by Export-Import Bank of China and offers a margin of 130bp over Libor.
Final allocations saw the sole lead take $40 million while Societe Generale came in as a mandated lead arranger with $30 million. Lead arrangers Aozora Asia Pacific Finance, Bank of East Asia and Bank of Tokyo-Mitsubishi UFJ lent $30 million each while arranger Cathay United Bank committed $20 million. Senior managers Banca Monte Dei Paschi di Siena – MPS, Chang Hwa Commercial Bank, Hua Nan Commercial Bank and Metropolitan Bank & Trust – Metrobank ended up with $10 million each.
Proceeds are for working capital purposes.
Midea International Corp and Midea Electric Investment (BVI) have secured a $235 million-equivalent dual currency deal through bookrunners BNP Paribas, Bank of China, HSBC.
Guaranteed by Midea Group, Midea Home Appliances Investments, Midea International Trading and Guangdong Midea Holdings, the three-year debt package consists of a $175 million portion and a HK$468 million facility.
Natixis and SMBC joined in as mandated lead arrangers while Bank of Ayudhya, Hang Seng Bank and Woori Bank participated as arrangers Bank Negara Indonesia came in as a senior manager.
Proceeds are for general corporate purposes in connection with production facilities in Brazil, India, Vietnam and Russia.
Hong Kong
Citic Pacific’s HK$4.5 billion five-year fundraising has been closed and is expected to sign today (August 26) through mandated lead arrangers and bookrunners Agricultural Bank of China, Bank of China and China Construction Bank. The facility was oversubscribed and upsized from HK$4 billion.
The facility, which is a revolving credit for the first two years and converts to a term loan thereafter, features a top-level all-in of 170bp through a margin of 153bp over Hibor.
Final allocations saw the leads and mandated lead arranger Bank of Communications commit HK$1 billion each while China Merchants Bank and Shanghai Pudong Development Bank lent HK$200 million each. Wing Lung Bank rounded up the syndicate with HK$100 million.
Proceeds are for general corporate funding purposes.
China Minmetals HK (Holdings) completed a $560 million five-year offshore loan on Tuesday (August 23) as a club deal through mandated lead arrangers ANZ, Barclays, Bank of Tokyo-Mitsubishi UFJ, HSBC, J.P. Morgan, Mizuho Corporate Bank, National Australia Bank and United Overseas Bank.
Proceeds are to finance the working capital.
Sunlight Reit Finance, an SPV of Sunlight Real Estate Investment Trust, obtained a HK$4.1 billion refinancing on Tuesday (August 23) through a consortium of 10 banks.
The three-year refinancing package contains a HK$3.95 billion term loan and a HK$100 million revolver which offers 100bp over Hibor. The deal is guaranteed by the trustee of Sunlight REIT and Sunlight REIT Holding.
Mandated lead arrangers Bank of China, Credit Agricole, Hang Seng Bank and SMBC committed HK$550 million each while HSBC and OCBC contributed HK$500 million each. ANZ lent HK$300 million while BNP Paribas and United Overseas Bank gave HK$250 million respectively. Cathay United Bank joined in as a lead manager with HK$100 million.
Proceeds are to refinance an existing HK$4.1 billion loan signed in May 2006 and to fund working capital requirements of Sunlight Real Estate Investment Trust.
India
Bank of India, acting through its Jersey Branch, has successfully secured a $200 million financing through mandated lead arrangers and bookrunners ANZ, Bank of America, Mizuho Corporate Bank, Natixis, Standard Chartered, Royal Bank of Scotland and United Overseas Bank.
Final allocations saw the leads contribute $23 million each while First Commercial Bank and Mega International Commercial Bank took $9.5 million each. Arrangers Bank of Taiwan, Bank of Kaohsiung, Hua Nan Commercial Bank and Taiwan Cooperative Bank ended up with $5 million each.
The deal was oversubscribed and upsized from $175 million. Proceeds are for general corporate purposes.
Federal Bank’s $90 million one-year loan was signed last Friday (August 19) through bookrunners Commerzbank, Doha Bank and Standard Chartered.
Syndication saw Arab Banking Corp and Jih Sun International Bank join in at lower tiers.
The deal was upsized twice from $70 million and was over-subscripted. Proceeds are for general corporate purposes.
Island Power’s Rs2.3 billion 12 year financing has been sealed through sole bookrunner and mandated lead arranger SBI Capital Markets.
The deal, which is sponsored by Island Road Transport, will be repaid through 38 quarterly installments after a 2.5-year grace period.
Syndication saw State Bank of India contribute Rs1 billion while Bank of Baroda committed Rs520 million. State Bank of Bikaner & Jaipur lent Rs420 million while State Bank of Patiala gave Rs334 million.
Proceeds are to support the development of a 63MW coal thermal power plant near Gola, at Ramgarh district, Jharkhand State, India.
Taiwan
Chailease Finance (BVI) signed a $100 million term facility last Thursday (August 18) through bookrunners and mandated lead arrangers ANZ, Bank of Taiwan, First Commercial Bank, and Mizuho Corporate Bank.
The three-year debt package offers 100bp over Libor.
Final allocations saw the leads take $15 million each while participant Taiwan Cooperative Bank took $10 million. Mega International Commercial Bank gave $8.5 million. Bank of Tokyo-Mitsubishi UFJ and Hua Nan Commercial Bank came in with $7 million each. Chang Hwa Commercial Bank and Taiwan Business Bank contributed $5 million and $2.5 million respectively.
Proceeds are to refinance an existing $49.5 million tranche signed in September 2008 and for working capital purposes.
Grand Capital International’s $160 million has been signed through mandated lead arrangers and bookrunners First Commercial Bank and Mega International Commercial Bank.
Guaranteed by Sinopac Leasing Corp, the five-year financing is split equally into a term loan and a revolving credit.
Final allocations saw Mega International Commercial Bank lend $40 million while First Commercial Bank committed $32 million. Hua Nan Commercial Bank contributed $18 million while Chang Hwa Commercial Bank and Taiwan Cooperative Bank gave $16 million each. Taichung Commercial Bank, Taiwan Business Bank and Yuanta Commercial Bank took $10 million each while Bank of Kaohsiung rounded up the syndicate with $8 million.
Proceeds are for refinancing and working capital purposes.
Hannstar Touch Solution’s NT$6 billion dual-tranche facility was signed last Friday (August 19) through bookrunners Bank Sinopac, Cathay United Bank, Land Bank of Taiwan, Mega International Commercial Bank and Yuanta Commercial Bank.
The five-year debt package is split into a NT$4.2 billion term loan and a NT$1.8 billion revolver which offers a margin of 53bp to 63bp over primary CP rate with a pre-tax interest rate floor of 2% and a commitment fee of 10bp.
Final allocation saw the leads take NT$890 million each while managers Shanghai Commercial & Savings Bank contributed NT$440 million. Bank of Taiwan, Industrial Bank of Taiwan and Taiwan Cooperative Bank lent NT$370 million each.
Proceeds are for the purchase of machinery and working capital purposes.
