Loan Week, January 11-17

Hong Kong


Far East Horizon has secured a $390 million-equivalent dual currency three-year term loan through sole bookrunner and mandated lead arranger DBS.

The facility was upsized from $120 million-equivalent and is split into a HK$504 million tranche and a $325 million portion. The margin is 280bp over Hibor and Libor for the HK$ tranche and the $ tranche respectively.

Final allocations saw the lead commit $50 million while mandated lead arranger Bank of China provided HK$270 million. Tai Fung Bank pledged HK$234 million while Bank of Tokyo-Mitsubishi UFJ, Bank of East Asia, First Gulf Bank, Shanghai Pudong Development Bank and Wing Hang Bank lent $30 million each. Senior managers Kookmin Bank and Mega International Commercial Bank contributed $15 million each while China Construction Bank and Cosmos Bank joined in with $12 million each. Bank of Taiwan, China Merchants Bank, E.Sun Commercial Bank, First Commercial Bank, Land Bank of Taiwan and Taiwan Business Bank came in with $10 million each while Cathay Bank pledged $6 million. Taiwan Shin Kong Commercial Bank ended up with $5 million.

Proceeds are to refinance existing indebtedness and for general corporate purposes.

United Asia Finance has secured a HK$3.6 billion financing through bookrunners and mandated lead arrangers Bank of Taiwan, Mizuho and Standard Chartered.

The debt package comprises a HK$2.4 billion four-year term loan and a HK$1.2 billion revolving credit facility.

Final allocations saw Bank of Taiwan and Standard Chartered provided HK$350 million each while Mizuho lent HK$300 million. Mandated lead arrangers Bank of China, Bank of East Asia, Taishin International Bank and Wing Lung Bank pledged HK$350 million each while Fubon Bank committed HK$300 million. Lead arranger China Construction Bank (Asia) lent HK$250 million while arranger First Commercial Bank came in with HK$ 200 million. Senior managers Bank SinoPac, E.Sun Commercial Bank, Industrial Bank of Taiwan, Taichung Commercial Bank joined in with HK$100 million each while Far Eastern International Bank concluded the syndicate with HK$50 million.

Proceeds are to repay debt and for general corporate purposes.

 

India


BSCPL Aurang Tollway has concluded an Rs8.6 billion financing through sole bookrunner and mandated lead arranger ICICI Bank.

The facility consists of a Rs5.4 billion 15-year term loan and a Rs3.2 billion 17-year portion.

Syndication saw Bank of India, Indian Overseas Bank, Oriental Bank of Commerce, Punjab National Bank, State Bank of Bikaner & Jaipur, State Bank of Hyderabad and State Bank of Travancore come in as participants.

Proceeds are to support the development of the Aurang section of NH6 in Chhattisgarh, India.

Ind Swift Laboratories has secured a Rs13.9 billion-equivalent loan package through sole bookrunner and mandated lead arranger State Bank of India.

The dual currency facility is split into a Rs4.4 billion 10-year term loan, a $36 million seven-year-and-three-month credit facility, a Rs1.4 billion 10-year term loan and a Rs6 billion one-year credit facility.

Syndication saw 16 banks join in as participants.

Proceeds are to repay existing indebtedness.

 

Korea


Korea Development Bank has completed a $140 million 2.5-year term loan through sole bookrunner and mandated lead arranger Bank of Tokyo-Mitsubishi UFJ. Full syndication was undisclosed.

Proceeds are for working capital purposes.

 

Taiwan


Ho Tung Chemical has completed a NT$4 billion five-year financing through joint bookrunners and mandated lead arrangers Bank of Taiwan, Land Bank of Taiwan and Taiwan Business Bank.

The loan package is split into a NT$2.8 billion term loan, a NT$600 million term loan and a NT$650 million-equivalent dual currency revolver.

Syndication saw nine banks join in at lower tiers.

Proceeds are for refinancing, equity investment and working capital purposes.

Inotera Memories has inked a NT$10 billion three-year term loan through bookrunners and mandated lead arrangers Bank of Taiwan, First Commercial Bank, Hua Nan Commercial Bank, Taiwan Business Bank and Taiwan Cooperative Bank.

Syndication saw Chang Hwa Commercial Bank, Chinatrust Commercial Bank, DBS, E.Sun Commercial Bank, Shanghai Commercial & Savings Bank, Taichung Commercial Bank and Taishin International Bank join in as participants.

Proceeds are to partly refinance an existing loan signed in May 2010 and for working capital purposes.

Taiwan Hon Chuan Enterprise has signed a NT$3.6 billion five-year debt package through bookrunners and mandated lead arrangers Bank of Taiwan, Chang Hwa Commercial Bank, First Commercial Bank, Land Bank of Taiwan, Mega International Commercial Bank, Taipei Fubon Commercial Bank, Taiwan Cooperative Bank and Yuanta Commercial Bank.

The facility consists of a NT$600 million term loan, a NT$1.5 billion term loan and a NT$1.5 billion revolver.

Syndication saw E.Sun Commercial Bank, Hua Nan Commercial Bank and Mizuho come in as participants.

Proceeds are for capital expenditure, securities purchase, working capital and debt repayment purposes.

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