Loan Week, September 12-18

A roundup of the latest syndicated loan market news.

Australia

ANZ Services ANZ Acquisition has completed a A$110 million four-year term loan through sole underwriter and mandated lead arranger Commonwealth Bank of Australia.

Final allocations saw the lead contribute A$60 million while lead arrangers Metrics Credit Partners and Siemens gave A$25 million each.

Proceeds are to support the leveraged buyout of Aero-care by Archer Capital.

Macmahon has inked a A$318 million three-year financing through bookrunners and mandated lead arrangers Commonwealth Bank of Australia and HSBC.

The facility was upsized from A$280 million to A$318 million.

Syndication saw Caterpillar Financial Australia, GE Capital, Hua Nan Commercial Bank, Macquarie Group, Mega International Commercial Bank, Taiwan Business Bank and Taiwan Cooperative Bank join in as lenders.

Proceeds are for working capital and equipment financing purposes.

India

ATC Tires has secured an $80 million six-year and six-month term loan through bookrunners and mandated lead arrangers HSBC and Mizuho.

Syndication saw Commonwealth Bank of Australia and Siemens Bank join in as participants.

Proceeds are for capital expenditure purposes.

Solapur Yedeshi Tollway has secured a Rs9.1 billion 19-year and nine-month term loan through sole bookrunner and mandated lead arranger Bajaj Consultants.

Syndication saw Canara Bank, Corporation Bank, IDBI Bank, India Infrastructure Finance, Indian Overseas Bank and Union Bank of India join in as lower tiers.

Proceeds are to support the project of highway infrastructure.

Soma Isolux NH One Tollway has obtained a Rs35.8 billion 13-year and six-month term loan through sole bookrunner and mandated lead arranger State Bank of India.

Syndication saw Allahabad Bank, Andhra Bank, Bank of Baroda, Bank of Maharashtra, Canara Bank, Central Bank of India, Indian Overseas bank, Oriental Bank of Commerce, State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala, State Bank of Travancore, UCO Bank, Union Bank of India and United Bank of India join in as participants.

Proceeds are to refinance existing indebtedness.

Hong Kong

Cleavebury has obtained a $320 million-equivalent three-year fundraising through joint bookrunners and mandated lead arrangers DBS and HSBC.

The facility consists of a $302 million tranche and a HK$140 million portion and guaranteed by Springland International.

Syndication saw Bank of East Asia and Hang Seng Bank join in as mandated lead arrangers while Bank of Tokyo-Mitsubishi UFJ, Shanghai Pudong Development Bank, SMBC and Tai Fung Bank came in as lead arrangers. Bank of Taiwan, E. Sun Commercial Bank, Land Bank of Taiwan, Taiwan Business Bank and Taiwan Cooperative Bank came in as arrangers while Chang Hwa Commercial Bank, First Commercial Bank, Hua Nan Commercial Bank and Jih Sun International Bank concluded the deal as senior managers.

Proceeds are for working capital and refinancing purposes.

Indonesia

Serasi Autoraya has inked a $135 million four-year term loan on a club basis through mandated lead arrangers CTBC Bank, OCBC, Standard Chartered and SMBC.

Final allocations saw Standard Chartered pledge $45 million while CTBC Bank, OCBC and SMBC lent $30 million each.

Proceeds are for capital expenditure and general corporate purposes.

Taiwan

Depo Auto Parts Industrial has completed a NT$7.2 billion five-year term loan though joint bookrunners and mandated lead arrangers Bank of Taiwan, Land Bank of Taiwan, Mega International Commercial Bank and Taipei Fubon Commercial Bank.

The deal is spit into a NT$3.5 billion facility and a NT$3.7 billion portion.

Syndication saw Chang Hwa Commercial Bank, China Development Industrial Bank, First Commercial Bank, Hua Nan Commercial Bank and Taiwan Cooperative Bank come in as mandated lead arrangers while Bank SinoPac, E.Sun Commercial Bank, Shanghai Commercial & Savings Bank and Yuanta Commercial Bank came in as participants.

Proceeds are for debt repayment and working capital purposes.

FoRoyal Development has sealed a NT$12 billion five-year term loan through joint bookrunners and mandated lead arrangers Bank of Taiwan and Mega international Commercial Bank.

The fundraising is split into a NT$3.4 billion tranche, a NT$7.2 billion portion and a NT$1.4 billion credit, respectively.

Syndication saw Agricultural Bank of Taiwan, Chang Hwa Commercial Bank, First Commercial Bank, Hua Nan Commercial Bank and Taipei Fubon Commercial Bank join in as participants.

Proceeds are for general corporate purposes.

Taiwan Cement Corp and TCC International have inked a $1.1 billion five-year debt package through joint bookrunners and mandated lead arrangers ANZ, BNP Paribas, Bank of Taiwan, DBS, First Commercial Bank, Mega International Commercial Bank, Mizuho and Taipei Fubon Commercial Bank.

The transaction is divided into a $350 million tranche, a $300 million facility and a $420 million portion, respectively.

Syndication saw Bank of Tokyo-Mitsubishi UFJ, Chang Hwa Commercial Bank, Hua Nan Commercial Bank, Land Bank of Taiwan, Taishin International Bank, Taiwan Cooperative Bank come in as mandated lead arrangers while CTBC Bank, E.Sun Commercial Bank, Shanghai Commercial & Savings Bank and SMBC joined in as lead arrangers.

Proceeds are to repay existing indebtedness, and for working capital and future investment purposes.
 

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