Great Southern's A$380 million multi-tranche financing was completed on September 25 via mandated leads ANZ, Bank West, Commonwealth Bank of Australia and Mizuho Corporate Bank as a club deal.
The facility is split into three term loans û a A$30 million 10-month tranche, a A$195 million two-year and one-month portion, and a A$155 million four-year credit.
Allocations saw ANZ committing A$130 million, while Bank West took A$105 million. Mizuho Corporate Bank and Commonwealth Bank of Australia held A$95 million and A$50 million respectively.
Proceeds are to refinance an existing facility and for working capital purposes.
A A$1.68 billion three-year revolver for Incitec Pivot and its subsidiaries Incitec Pivot Finance Australia, Incitec Pivot US Holdings and Incitec Pivot Finance LLC has been sealed via mandated arrangers and bookrunners Commonwealth Bank of Australia, National Bank of Australia, Royal Bank of Scotland and Westpac.
Final allocations saw the bookrunners contributing A$250 million apiece. Coming in as participants were Credit Suisse and UBS, lending A$150 million each, while Citi provided A$130 million. Bank of Tokyo-Mitsubishi UFJ and Rabobank took A$75 million apiece and ANZ and HSBC gave A$50 million each.
Proceeds are to refinance existing debt and for general corporate purposes.
China
Syndication of Air China's $40 million three-year credit has been closed via sole mandated lead and bookrunner Mizuho Corporate Bank.
The margin is priced at 100bp over Libor. Syndication saw BayernLB and Svenska Handelsbanken joining in, but allocations have not yet been disclosed.
Indonesia
A $40 million one-year transaction for Central Proteinaprima (CPP) is still ongoing in syndication via mandated arrangers Commerzbank and RZB Bank.
The bullet loan pays a spread of 350bp over Libor. Around nine banks are currently looking into the deal. Syndication is expected to close on October 17.
Sinar Sosro's Rp750 billion five-year debt package was signed last week via mandated lead arrangers Bank DBS Indonesia and Bank Mandiri (Persero). Bank DBS Indonesia is the sole bookrunner.
Final allocations saw the mandated lead arrangers taking Rp300 billion apiece, while arrangers Bank UOB Indonesia and Bank of China contributed Rp100 billion and Rp50 billion respectively.
Proceeds are to refinance an existing facility and for capital expenditure purposes.
New Zealand
Fisher & Paykel FinanceÆs NZ$335 million multi-tranche fundraising was inked on September 29 via sole mandated lead ANZ.
The loan is split into a NZ$125 million one-year portion, a NZ$105 million two-year tranche and a NZ$105 million three-year term loan.
Allocations saw ANZ committing NZ$185 million while participants Bank of New Zealand and Westpac provided NZ$75 million apiece.
The funds are for general corporate purposes.
Philippines
A Rmb700 million US dollar-equivalent three-year term loan for Jollibee Foods Corp has been completed via sole bookrunner UBS.
The margin is priced at 225bp over Libor.
Syndication saw Banco de Oro, Bank of Tokyo-Mitsubishi UFJ, Metropolitan Bank & Trust and Rizal Commercial Banking Corp joining in as participants.
Proceeds are for the expansion of the Yonghe King store network, and for the acquisition of the Beijing-based Hongzhuangyuan restaurant chain.
Singapore
A S$460 million three-year credit for YTL Corp Finance (Cayman), a wholly-owned subsidiary of YTL Corp, has been sealed via sole bookrunner DBS Bank.
The club-style facility saw DBS Bank contribute S$130 million. Coming in as equal-status lead arrangers were Oversea-Chinese Banking Corp, which committed S$130 million, and Bank of Tokyo-Mitsubishi UFJ and Sumitomo-Mitsui Banking Corp, which provided S$100 million apiece.
Proceeds are for general corporate purposes.
South Korea
A $300 million three-year bullet facility for Lotte Shopping was closed yesterday (October 2) via mandated lead arrangers and bookrunners Bank of America, Bank of Nova Scotia, BNP Paribas, Calyon, DBS Bank and ING Bank.
The loan-style floating-rate note pays a spread of 175bp over Libor.
Banks were invited to join at three levels. Lead arrangers earn an upfront fee of 70bp by contributing $20 million or above, arrangers take 50bp by committing $10 million to $19 million and lead managers receive 40bp with tickets of $5 million to $9 million.
The signing date is slated for mid-October and the facility is likely to sign as a club deal. Proceeds are for general corporate purposes.
SK Energy's $185 million three-year offshore, loan-style, floating-rate note was inked last week via mandated arrangers and bookrunners Banco Bilbao Vizcaya Argentaria, Bank of America, Calyon, DBS Bank, ING Bank and Landesbank Baden-Wuerttemberg.
The mandated leads committed $30 million apiece, with the exception of Bank of America, which provided $25 million. Mega International Commercial Bank gave $10 million as an arranger.
The funds are for general corporate purposes.
Taiwan
Innolux Display Corp's NT$30.2 billion-equivalent five-year dual-tranche financing was signed on September 25 via a consortium of 14 mandated arrangers and bookrunners.
The deal comprises a NT$24 billion term loan A and a $200 million term loan B, with margins priced at 50bp over the 90- or 180-day secondary CP rate and over three- or six-month Libor respectively. There is a grace period of two years and a commitment fee of 15bp.
Final allocations (NT$-equivalent) saw mandated arrangers Mega International Commercial Bank and Taiwan Cooperative Commercial Bank hold NT$2.2 billion apiece. Calyon, Cathay Commercial Bank, Changhwa Commercial Bank, China Development Industrial Bank, Chinatrust Commercial Bank, E.Sun Commercial Bank, First Commercial Bank, Hua Nan Commercial Bank, Industrial Bank of Taiwan, Land Bank of Taiwan, Taipei Fubon Commercial Bank and Taishin International Commercial Bank contributed NT$1.9 billion each.
Co-arranger Yuanta Commercial Bank lent NT$956 million, while manager Shanghai Commercial & Savings Bank took NT$576 million. Export-Import Bank of China and Taichung Commercial Bank committed NT$496 million apiece. Rounding off the syndicate as participants were Bank SinoPac and Ta Chong Commercial Bank providing NT$375 million and NT$97 million respectively.
The funds are for capital expenditure requirements.
A NT$15 billion five-year dual-tranche debt package for Lite-on Technology Corp was sealed last week via mandated leads Bank SinoPac, Changhwa Commercial Bank, Chinatrust Commercial Bank, Citi, First Commercial Bank, Land Bank of Taiwan, Mega International Commercial Bank, Standard Chartered Bank, Taipei Fubon Commercial Bank, Taishin Commercial Bank and Taiwan Cooperative Bank. With the exception of First Commercial Bank, the same banks are also acting as bookrunners. The deal was upsized from NT$12 billion due to a good response from the market.
The facility is split into a NT$12 billion term loan and a NT$3 billion revolving credit, paying a spread of 55bp over the 90-day secondary CP rate. The repayment schedule is set at five semi-annual instalments after a grace period of 3 years.
Allocations saw mandated leads Bank SinoPac commit NT$1.7 billion, while Taipei Fubon Commercial Bank held NT$1.6 billion. Changhwa Commercial Bank, Chinatrust Commercial Bank, Citi, Land Bank of Taiwan, Mega International Commercial Bank, Taishin Commercial Bank and Taiwan Cooperative Bank provided NT$1.2 billion apiece. First Commercial Bank took NT$840 million and Standard Chartered Bank gave NT$180 million.
Coming in as co-arrangers were Bank of Taiwan and Sumitomo-Mitsui Banking Corp, contributing NT$800 million and NT$150 million respectively. Participants Yuanta Commercial Bank and Entie Commercial Bank committed NT$1 billion and NT$300 million correspondingly.
Proceeds are for refinancing and working capital purposes.
Perlos Oyj's Ç100 million five-year revolver was inked last week via a consortium of nine mandated arrangers - Changhwa Commercial Bank, Chinatrust Commercial Bank, Citi, First Commercial Bank, Land Bank of Taiwan, Mega International Commercial Bank, Standard Chartered Bank, Taishin Commercial Bank and Taiwan Cooperative Bank. With the exception of First Commercial Bank, the same banks are also acting as bookrunners.
The loan pays a spread of 67.5bp over Euro Libor. Lite-on Technology Corp is acting as the guarantor.
Final allocations saw Standard Chartered Bank provide Ç25 million, while the remaining eight mandated arrangers took Ç7 million apiece. Coming in as a co-arranger was Sumitomo-Mitsui Banking Corp with a hold of Ç19 million.
The funds are for working capital requirements.
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