Loan Week, July 21-27

A roundup of the latest syndicated loan market news.

China

Sole lead arranger HSBC will soon be closing syndication of Long Chen Zhejiang Paper FactoryÆs $47 million equivalent dual tranche term loan. Although the facility is already oversubscribed, a few more banks have yet to revert.

The five year deal, which has an average life of 4.1 years, pays a margin of 82.5bp over Libor on the US dollar tranche with a commitment fee of 15bp, while the RMB portion is priced at 90% of the PBOC rate....

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