Loan Week, June 22-28

Australia

Charter Hall Funds Management as the responsible entity of Charter Hall Core Plus Office fund has secured a A$750 million facility on a club basis through mandated lead arrangers ANZ, Commonwealth Bank of Australia, NAB and Westpac.

The facility is split into a A$350 million three-year term loan, a A$250 million four-year term loan and a A$150 million revolver.

Final allocations saw the leads lend A$188 million each.

Proceeds are to refinance existing bilateral facilities, acquisition and development financing and for working capital purposes.

Mackay Sugar has obtained a $170 million-equivalent one-year facility on a club basis through mandated lead arrangers NAB and Rabobank.

The debt package comprises a A$35 million revolver, a $15 million cash advance facility, a A$20 million term loan, a A$14 million term loan and a A$89 million project financing portion.

Final allocations saw Rabobank contribute the equivalent of $114 million, while NAB pledged $60 million-equivalent.

Proceeds are for project financing and general corporate purposes.

Mirvac Funds Management as the responsible entity of Mirvac Wholesale Hotel Trust and Mirvac Hotel Investment has completed a A$230 million three-year revolver through mandated lead arrangers ANZ, NAB and Westpac.

Final allocations saw the leads lend A$77 million each.

Proceeds are to refinance an existing facility signed in June 2007 and for general corporate purposes.

QPH Finance has obtained a A$1.1 billion facility on a club basis through mandated lead arrangers ANZ, Commonwealth Bank of Australia, Credit Agricole, NAB, SMBC and Westpac.

The facility is split into two A$424 million term loans maturing in 5.5-years and 3.5-years, respectively; a A$282 million 3.5-year term loan; and a A$10 million 3.5-year revolver.

Final allocations saw NAB contribute A$273 million while Commonwealth Bank of Australia and Westpac lent A$202 million each. ANZ committed A$177 million while SMBC provided A$154 million. Credit Agricole ended up with A$130 million.

Proceeds are to refinance an existing facility signed in 2010 and for working capital purposes.

SPI Australia Assets has secured a A$90 million one-year revolver through mandated lead arranger Commonwealth Bank of Australia and Westpac

Final allocations saw the leads take A$45 million each.

Proceeds are for refinancing and working capital purposes.

 


China

CDB Leasing has completed a $300 million three-year term loan through bookrunners and mandated lead arrangers Maybank, Standard Chartered and Taiwan Cooperative Bank.

Syndication saw ANZ, Cathay United Bank and Chang Hwa Commercial Bank join in as lead arrangers while Banca Monte dei Paschi di Siena, Chinatrust Commercial Bank, First Commercial Bank, Hua Nan Commercial Bank, Korea Development Bank and Land Bank of Taiwan came in as arrangers.

Proceeds are for working capital purposes.

 


Hong Kong

Comba Telecom Systems has concluded a $210 million three-year term loan through mandated lead arrangers Bank of China, Hang Seng Bank, HSBC, Standard Chartered and Svenska Handelsbanken.

The deal is guaranteed by Comba Telecom Systems Investments, Praises Holdings and Comba Telecom.

Proceeds are for general corporate purposes.

Sinotruk (Hong Kong) obtained a Rmb1.8 billion two-year term loan on Wednesday (June 27) through sole bookrunner and mandated lead arranger Bank of China.

Syndication saw Bank of East Asia, Bank Sinopac, Cathay United Bank, Chang Hwa Commercial Bank, Chiyu Banking Corp, DBS, E.Sun Commercial Bank, First Commercial Bank, Hua Nan Commercial Bank, Mega International Commercial Bank, Tai Fung Bank, Taipei Fubon Commercial Bank, Taishin International Bank and Wing Lung Bank join in as participants.

This is the biggest offshore renminbi loan to date. Proceeds are for refinancing and general corporate purposes.

 


India

Wainganga Expressway has recently completed a Rs3.3 billion 14-year, six-month term loan through sole bookrunner and mandated lead arranger Yes Bank.

Sponsored by JMC Projects, the facility will be repaid in 44 quarterly installments after a one-year grace period.

Final allocations saw the lead take Rs935 million while participants Corporation Bank and Vijaya Bank provided Rs800 million each. India Infrastructure Finance Co committed Rs745 million.

Proceeds are for the construction of a four-lane expressway.

Malaysia

Danainfra Nasional has signed an M$8 billion two-year Islamic revolving credit facility through mandated lead arrangers AmBank, CIMB, Maybank and RHB.

Final allocations saw the four banks contribute equally to the financing.

Proceeds are for the development of the Klang Valley MY Rapid Transit Railway in Kuala Lumpur, Malaysia.

 


South Korea

Dongkuk Steel sealed a W500 billion dual-tranche facility through sole bookrunner and mandated lead arranger Korea Development Bank.

Final allocations saw Korea Development Bank commit W200 billion while Korea Finance Corp lent W150 billion. Hana Bank and Korea Exchange Bank rounded up the syndicate with W75 billion each.

Proceeds are for capital expenditure purposes.

 


Singapore

Marina Bay Sands successfully secured a S$5.1 billion dual-tranche facility through global coordinators and bookrunners DBS, Maybank, OCBC and United Overseas Bank.

The debt package is split into a S$4.6 billion six-year term loan and a S$500 million 5.5-year revolver.

Syndication saw Standard Chartered and SMBC join in as bookrunners while CIMB came in as a mandated lead arranger. Bank of China participated as a lead arranger while 20 additional banks joined in at lower tiers.

Proceeds are to refinance an existing S$5.4 billion facility signed in 2008, which was used to support the development of an Integrated Resort at Marina Bay, Singapore.

 


South Korea

National Federation of Fisheries Cooperatives has obtained a ¥10 billion one-year term loan on a club basis through mandated lead arrangers Bank of America, Commerzbank, Landesbank, Mizuho and Standard Chartered.

Final allocations saw the leads lend ¥ 2 billion each.

Proceeds are to refinance existing indebtedness.

 


Taiwan

Chailease Consumer Finance signed a NT$720 million three-year revolver on Wednesday (June 27) through joint bookrunners and mandated lead arrangers Agricultural Bank of Taiwan, Industrial Bank of Taiwan, Land Bank of Taiwan and Taiwan Cooperative Bank.

Final allocations saw Industrial Bank of Taiwan pledge NT$150 million while the other leads contributed NT$130 million each. Participants First Commercial Bank, Jih Sun Commercial Bank and Shanghai Commercial & Savings Bank came in with NT$60 million each.

Proceeds are to refinance a NT$500 million facility signed in October 2010 and for working capital purposes.

Lite-On Semiconductor Corp concluded a NT$1.5 billion five-year revolver through sole bookrunner Chinatrust Commercial Bank.

The facility offers a margin of 67.5bp over the secondary CP rate and with a commitment fee of 15bp.

Final allocations saw the lead give NT$450 million while mandated lead arranger Far Eastern International Bank provided NT$400 million. Participants Bank SinoPac and Taiwan Cooperative Bank brought in NT$250 million each while Chang Hwa Commercial Bank came in with NT$150 million.

Proceeds are for refinancing and working capital purposes.

Star Buck Power Corp secured a NT$8.9 billion and $3 million seven-year facility on Tuesday (June 26) through bookrunners Bank of Taiwan and Chinatrust Commercial Bank.

The transaction consists of a NT$6.6 billion term loan, a NT$900 million tranche, a NT$1.3 billion guarantee facility, a NT$144 million guarantee facility and a $3 million letter-of-credit facility.

Syndication saw First Commercial Bank, Mega International Commercial Bank, Taipei Fubon Commercial Bank and Taiwan Cooperative Bank come in as mandated lead arrangers while Cathay United Bank, Chang Hwa Commercial Bank, Export-Import Bank of the Republic Bank of China, Far Eastern International Bank, Hua Nan Commercial Bank and Land Bank of Taiwan joined in as participants.

Proceeds are to refinance a NT$10.7 billion 15-year loan facility signed in December 2006.

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