Loan Week, August 15-21

A roundup of the latest syndicated loan market news.

Australia

WSO Finance has completed a A$1.3 billion term loan on a club basis through mandated lead arrangers ANZ, Bank of Nova Scotia, CIBC, Commonwealth Bank of Australia, Credit Agricole, EDC, NAB, RBC Capital Markets, SMBC and Westpac.

The financing is split into a A$520 million three-year portion, a A$525 million five-year tranche and a A$225 million seven-year portion.

Proceeds are for refinancing purposes.

China

CPMC Holdings has secured a $210 million 3.5-year term loan through bookrunners and mandated lead arrangers Bank of Tokyo-Mitsubishi UFJ, NAB, National Bank of Abu Dhabi and Natixis.

Final allocations saw the leads commit $40 million each while lead arranger Taipei Fubon Commercial Bank provided $20 million. Arrangers Bank of Taiwan, Hua Nan Commercial Bank and KBC Bank came in with $10 million each.

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

Huawei Technologies has inked a $1.6 billion five-year revolver through bookrunners and mandated lead arrangers BBVA, BNP Paribas, Citi, DBS, Deutsche Bank, HSBC, ING, RBS and Standard Chartered.

Syndication saw ANZ, Banco de Sabadell, Bank of China, Bank of Tokyo-Mitsubishi UFJ, Barclays, BayernLB, China Construction Bank, Commerzbank, Erste Group Bank, Intesa Sanpaolo, Lloyds Banking Group, Mizuho and Unicredit join in as mandated lead arrangers while CaixaBank, DNB Asia, DZ Bank and  Societe Generale came in at lower levels.

Proceeds are for working capital and general corporate purposes.

Tongling Nonferrous Metals Group has signed a $145 million two-year term loan through sole bookrunner and mandated lead arranger Credit Agricole.

Syndication saw Bank of Tokyo-Mitsubishi UFJ, Commonwealth Bank of Australia and SMBC join in as mandated lead arrangers while Monte dei Paschi and State Bank of India concluded the syndicate as arrangers.

Proceeds are for refinancing and general corporate purposes.

Hong Kong

Tai Chong Cheang Steamship Group has obtained a $47 million term loan through sole bookrunner and mandated lead arranger BNP Paribas.

Syndication saw Sumitomo Mitsui Trust Bank join in as participant.

Proceeds are for marine financing.

India

Prize Petroleum International has successfully obtained a $100 million nine-year and five-month term loan through sole bookrunner and mandated lead arranger State Bank of India.

Final allocations saw Syndicate Bank give $50 million while Allahabad Bank and Export-Import Bank of India joined in with $25 million each.

Proceeds are to support the acquisition and project financing purposes.

New Zealand

Wellington Gateway Partnership has sealed a NZ$911 million term loan through bookrunners and mandated lead arrangers Bank of New Zealand, Bank of Nova Scotia, Commonwealth Bank of Australia and UOB.

The facility is split into a NZ$866 million six-year tranche and a NZ$45 million six-year portion.

Proceeds are to support the construction of the 27km four-lane Transmission Gully motorway which runs from Levin to the Wellington Airport in New Zealand.

Singapore

Louis Dreyfus Commodities Asia has completed a $500 million three-year revolver through bookrunners and mandated lead arrangers ABN Amro, BNP Paribas, HSBC and Westpac.

Syndication saw ANZ, CIMB Bank, Commerzbank, Commonwealth Bank of Australia, Credit Industriel et Commercial, DBS, ICBC, NAB, OCBC, RBS, Societe Generale and Standard Chartered join in as mandated lead arrangers while Bank of America, First Gulf Bank, Sumitomo Mitsui Banking Corp and Sumitomo Mitsui Trust Bank came in as lead arrangers. Bank of Communications, Bank of Nova Scotia, Citi, CTBC Bank, Mega International Commercial Bank and UOB concluded the syndicate as arrangers.

Proceeds are for working capital and general corporate purposes.

South Korea

ICBC (Seoul) has obtained a $120 million one-year term loan through sole bookrunner and mandated lead arranger Mizuho.

Syndication saw Apple Bank for Savings, Doha Bank, Kexim and Oberbank join in as lenders.

Proceeds are for general corporate purposes.

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