Loan week, January 30-February 5

Australia

A $65 million six month club facility for Redflex Traffic System has been completed via mandated leads Bank of Montreal and Commonwealth Bank of Australia.

Commonwealth Bank of Australia contributed $40 million while Bank of Montreal held $25 million.

Proceeds are for working capital purposes.

SPV Finance's A$390 million three year term loan has been signed as a club deal via a consortium of four mandated lead arrangers.

Final allocations saw Westpac and Commonwealth Bank of Australia committing A$180 million and A$110 million respectively, while ANZ and Banco Bilbao Vizcaya Argentaria provided A$50 million apiece.

Proceeds are to finance the privatization of the Cairns and Mackay airports in Queensland, Australia.

China

East Hope (San men xia) Aluminum's RMB$1 billion three year facility is still ongoing in syndication via sole bookrunner Calyon. So far, three undisclosed commitments have been received.

The term loan is secured by an off-take contract and pays a spread of 110% of the PBOC rate.

Banks have been invited on four levels. Mandated lead arrangers holding RMB200 million or more receive an upfront fee of 90bp while lead arrangers contributing between RMB150 million and RMB190 million get 75bp. Arrangers taking between RMB100 million and RMB150 million earn 65bp while senior managers lending RMB50 million and RMB90 million gain 60bp.

Syndication is expected to close by mid-February. Proceeds are for general corporate purposes.

Japan

Syndication of Sony Corp's financing of around $3 billion was launched on January 28 via mandated lead arrangers and bookrunners BNP Paribas, Citi and JP Morgan.

The deal is priced at 45bp over Libor. Proceeds are to refinance a $4.3 billion tranche, part of a $5.4 billion facility signed in March 2004.

Singapore

Syndication of Fraser & Neave Treasury's S$300 million three year financing has been extended until next week via bookrunners Bank of Tokyo-Mitsubishi UFJ, Calyon, Maybank and Natixis. So far over 20 lenders are currently processing their credit approvals.

The loan pays a spread of 145bp over the Singapore dollar swap rate (SSR).

Fees to the market are on three levels. Coordinating arrangers contributing S$11 million and above receive 75bp flat, lead arrangers committing between S$8 million and S$10 million earn 60bp and arrangers taking between S$5 million and S$7 million get 45bp.

The expected signing date is slated for the end of the month. Proceeds are to refinance existing debt and for general corporate purposes. South Korea

Korea National Oil's $220 million three year offshore loan-style floating rate note has been signed as a club deal via mandated arrangers Bank of Nova Scotia Asia, CIMB Bank, DBS and Standard Chartered.

The margin is priced at 350bp over Libor.

Proceeds are to finance the acquisition of an oil field and for working capital purposes.

Taiwan

Chicony's NT$4 billion dual tranche facility was signed in late January via mandated lead arrangers and bookrunners E.Sun Commercial Bank, Hua Nan Commercial Bank, Land Bank of Taiwan and Taiwan Cooperative Bank.

The three year fundraising comprises a NT$2.4 billion term loan and a NT$1.6 billion revolver.

Lead arrangers E.Sun Commercial Bank took NT$900 million while Land Bank of Taiwan and Taiwan Cooperative Bank contributed NT$750 million apiece. Hua Nan Commercial Bank provided NT$600 million. Participants Chang Hwa Commercial Bank and Taipei Fubon Commercial Bank came in with NT$300 million each while Mega International Commercial Bank and Taiwan Business Bank committed NT$200 million apiece.

The deal pays a spread of 110bp over the secondary CP rate. Proceeds are for refinancing purposes.

A NT$3 billion five year term loan for Silitech Technology Corp has been inked via coordinating arrangers Land Bank of Taiwan, Taipei Fubon Commercial Bank and Taiwan Cooperative Bank.

The leads took NT$600 million apiece with the exception of Land Bank of Taiwan committing NT$800 million. Co-arrangers First Commercial Bank, Mega International Commercial Bank and Taiwan Business Bank lent NT$300 million apiece while participant Agricultural Bank of Taiwan gave NT$100 million.

The deal is priced at 72bp over the secondary CP rate. Proceeds are for working capital purposes.

Star Buck Power's NT$1 billion guarantee facility has been sealed via lead arrangers and bookrunners Bank of Taiwan, Chinatrust Commercial Bank and First Commercial Bank.

The leads each committed NT$200 million while participant Taiwan Cooperative Bank contributed NT$178 million. Export-Import Bank of the Republic of China and Taipei Fubon Commercial Bank provided NT$100 million apiece while Hua Nan Commercial Bank gave NT$88 million.

The transaction features a guarantee fee of 55bp. Proceeds are to supplement an existing NT$9.6bn 15-year facility signed in Dec 2006 for the purchase of natural gas from CPC Corporation.