Loan Week, August 29-September 4

A roundup of the latest syndicated loan market news.

Hong Kong

Public Financial Holdings has completed a HK$1.1 billion four-year term loan through sole bookrunner and mandated lead arranger Mizuho.

Syndication saw CIMB Bank and Mega International Commercial Bank join in as mandated lead arrangers while Bank Sinopac, Chang Hwa Commercial Bank, Hua Nan Commercial Bank, Land Bank of Taiwan and Taiwan Cooperative Bank came in as participants.

Proceeds are to repay existing indebtedness and for general corporate funding requirement.

RKP Overseas Finance has secured a $200 million three-year term loan on a club basis through mandated lead arrangers Bank of East Asia, China Citic Bank International, DBS, Hang Seng Bank and HSBC.

Final allocations saw Hang Seng Bank and HSBC pledge $45 million each while Bank of East Asia and DBS provided $40 million apiece. China Citic Bank International lent $30 million.

Proceeds are to refinance existing indebtedness and for working capital purposes.

Indonesia

Adaro Indonesia secured a $1 billion seven-year facility on a club basis on August 25 through mandated lead arrangers ANZ, Bank of Tokyo-Mitsubishi UFJ, CIMB Bank, CTBC, Citi, DBS, HSBC, ING, Maybank, Mizuho, OCBC, Standard Chartered, SMBC and UOB.

Proceeds are to repay existing indebtedness.

Perusahaan Gas Negara Indonesia successfully inked a $650 million five-year term loan on August 28 through underwriters and mandated lead arrangers ANZ, Bank of Tokyo-Mitsubishi UFJ, Citi, HSBC and SMBC.

The facility is split into a $590 million tranche and a $60 million portion and priced at 185bp and 160bp over Libor, respectively.

Final allocations saw ANZ commit $118 million while Bank of Tokyo-Mitsubishi UFJ, Citi, HSBC and SMBC pledged $110 million apiece. Mandated lead Commonwealth Bank of Australia joined in with $52 million while BNP Paribas and Mizuho came in with $20 million each.

Proceeds are for general corporate purposes.

Singapore

Lend Lease Commercial Investments and Lend Lease Retail Investment 3 have secured a S$905 million financing through bookrunners and mandated lead arrangers DBS and OCBC.

Syndication saw Bank of China and SMBC join in as participants.

Proceeds are for refinancing, working capital and general corporate purposes.

Wing Tai Holdings has obtained a $120 million five-year term loan through sole bookrunner and mandated lead arranger HSBC.

Syndication saw Bank of China, CIMB Bank, CTBC Bank, Chang Hwa Commercial Bank, First Commercial Bank, Hang Seng Bank, ICBC, Mizuho and RHB Bank join in as participants.

Proceeds are for refinancing and working capital purposes.

South Korea

Hyundai Heavy Industries has completed a $200 million three-year term loan on a club basis through mandated lead arrangers Agricultural Bank of China, BNP Paribas, China Construction Bank, HSBC, ICBC and Standard Chartered.

Proceeds are for general corporate purposes.

Taiwan

Radium Life Tech has inked a NT$1.8 billion four-year term loan through sole bookrunner and mandated lead arranger CTBC.

The fundraising is divided into a NT$1.7 billion portion, a NT$65 million tranche and a NT$59 million credit.

Syndication saw DBS and Taishin International come in as participants.

Proceeds are for general corporate purposes.

Taiflex Scientific has amended a NT$1.8 billion three-year revolver through joint bookrunners and mandated lead arrangers Bank of Taiwan, E.Sun Commercial Bank, First Commercial Bank, Land Bank of Taiwan and Taipei Fubon Commercial Bank.

The facility was oversubscribed and upsized from NT$1.5 billion.

Syndication saw Chang Hwa Commercial Bank, E.Sun Commercial Bank and Yuanta Commercial Bank come in as participants.

Proceeds are to amend an existing facility signed on January 2012 and for working capital purposes.

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