Australia
Acorn FM Trusco has secured a $476 million-equivalent facility through bookrunners and mandated lead arrangers J.P. Morgan and National Australia Bank.
The bullet facility is split into a A$246 million, a A$91 million, a NZ$45 million and a €30 million term loan, and a A$20 million revolver.
Aozora Bank, Cathay United Bank, Challenger, First Commercial Bank, Royal Bank of Canada and Westpac joined in as participants in general syndication.
Proceeds are to support the leveraged buyout of Valad Property by Blackstone.
Bangladesh
Shah Cement Industries successfully secured a Tk1.5 billion 4.5-year term loan through sole bookrunner Standard Chartered.
Syndication saw Agrani Bank, Dutch Bangla Bank, Janata Bank and Pubali Bank join in as participants.
Proceeds are to finance the expansion of a cement project.
China
Shanghai Huang Pu Liu Chong Hing Property Development has obtained a Rmb320 million and a HK$290 million five-year term loan through sole bookrunner and mandated lead arranger Standard Chartered.
Guaranteed by Liu Chong Hing Investment, the facility is priced at 120% of PBOC rate for the Rmb portion and features a spread of 450bp over Hibor for the HK$ tranche.
Syndication saw Chong Hing Bank, Shanghai Commercial Bank and Wing Lung Bank join in as participants.
Proceeds are to refinance the borrower’s existing facilities.
India
Alstom Bharat Forge Power has successfully obtained a Rs13.5 billion 12-year term loan through joint bookrunners and mandated lead arrangers Axis Bank and ICICI Bank.
The facility was equally underwritten by the leads and will be repaid in 32 quarterly instalments.
Final allocations saw AXIS Bank and ICICI Bank commit Rs1.8 billion and Rs1 billion respectively while Export-Import Bank of India and Oriental Bank of Commerce came in as participants with Rs2.9 billion each. Canara Bank, Indian Bank and Bank of India ended up with Rs1.8 billion, Rs1.7 billion and Rs1.6 billion respectively.
Proceeds are to support the 5GW power projects in Mundra SEZ in Gujarat.
Navkar has completed a Rs660 million seven-year guaranteed term loan through sole bookrunner and mandated lead arranger Yes Bank.
Final allocations saw the sole lead take Rs160 million while participants Corporation Bank and Tata Capital joined in with Rs250 million each.
Proceeds are to expand and manage container freight stations.
Vakrangee Software has concluded a Rs2.3 billion financing through sole bookrunner and mandated lead arranger AXIS Bank.
The three-year, nine-month underwritten term loan will be repaid in 14 quarterly installments.
Final allocations saw the lead provide Rs1 billion while participants Andhra Bank and Punjab National Bank contributed Rs750 million and Rs500 million respectively.
Proceeds are for general corporate purposes.
Indonesia
Agincourt Resources, a subsidiary of G-Resources Group, signed a $100 million 2.5-year revolving credit on Monday (December 5) through mandated lead arrangers BNP Paribas, Hang Seng Bank and SMBC.
The standby facility offers an initial margin of 450bp over Libor, which will step down to 400bp over Libor after completion.
Proceeds are to support the Martabe project and for general corporate purposes.
Singapore
FSL Trust Management, the trustee manager of First Ship Lease Trust, has signed a $480 million six-year term loan through bookrunners ABN Amro and OCBC.
Secured by 25 vessels, the facility offers a spread ranging from 260bp to 300bp over three-month Libor depending on the security-to-loan ratio.
Syndication saw Bank of Tokyo-Mitsubishi UFJ, ITF International Transport Finance Suisse, KfW IPEX-Bank, Korea Development Bank, UniCredit and SMBC join in as mandated lead arrangers.
Proceeds are to refinance existing debt facilities.
Mercuria Energy Trading successfully signed a $755 million one- and three-year revolver on Tuesday (December 6) through bookrunners and mandated lead arrangers BNP Paribas, DBS, HSBC, ICBC London, ING, Societe Generale, Standard Chartered and SMBC. With overwhelming response from the market, the facility was oversubscribed and upsized from $480 million.
A total of 21 international banks have joined in at lower tiers, including ANZ, Banco do Brasil, Bank of East Asia, Bank of Taiwan, Bank of Tokyo-Mitsubishi UFJ, Bank Negara Indonesia, British Arab Commercial Bank, Chinatrust Commercial Bank, Citibank, First Gulf Bank, Hang Seng Bank, Indian Overseas Bank, Krung Thai Bank, Mega International Commercial Bank, Qatar National Bank, Rabobank International, Raiffeisen Bank International, Royal Bank of Scotland, Union de Banques Arabes et Francaises, United Overseas Bank and Zenith Bank.
Proceeds are for refinancing, general corporate and working capital purposes.
Taiwan
Taiwan Paiho has secured a NT$1.3 billion five-year term loan through bookrunners Bank of Taiwan, Chinatrust Commercial Bank and China Development Industrial Bank.
The facility is priced at 80bp over a 90-day secondary CP rate and will be repaid in 13 quarterly instalments.
Syndication saw the leads and mandated lead arrangers Hua Nan Commercial Bank and Land Bank of Taiwan provide NT$200 million each while participant Chang Hwa Commercial Bank gave NT$150 million. Industrial Bank of Taiwan and Agricultural Bank of Taiwan came in with NT$90 million and NT$60 million respectively.
Proceeds are to refinance a NT$1.4 billion four-year term loan signed in 2009 and for working capital purposes.
TransAsia Airways has recently concluded a NT$5.5 billion dual-tranche term loan through sole bookrunner Taiwan Cooperative Bank.
The deal consists of two identical NT$2.8 billion 12-year tranches priced at 40bp over one-year post office saving rate. The facility will be repaid in 24 semi-annual instalments.
Final allocations saw the lead take NT$1.5 billion while mandated lead arrangers Hua Nan Commercial Bank, Industrial Bank of Taiwan and Yuanta Commercial Bank joined in with NT$750 million each. Participants Agricultural Bank of Taiwan committed NT$700 million while Cathay United Bank, Chang Hwa Commercial Bank and Jih Sun Commercial Bank ended up with NT$350 million each.
Proceeds are for aircraft financing.
