Loan week, August 14-20

Australia

A $500 million three-year multi-tranche debt facility for FBG Treasury (Australia) was signed last week via original mandated lead arrangers and bookrunners ANZ, Bank of Tokyo-Mitsubishi UFJ and Commonwealth Bank of Australia.

The transaction comprises a $165 million term loan, a $155 million dual-currency revolver and a separate $180 million revolver.

Guaranteed by Fosters Group, the bullet loan pays a top level all-in of 310bp over Libor.

The bookrunners each committed $50 million, while joint lead arranger Sumitomo Mitsui Banking Corp contributed $35 million. Bank of Nova Scotia, Citic Ka Wah Bank and DBS provided $34 million apiece. Bank of China (Macau) came in with $27 million and Bank of China (Sydney) held $20 million. Lead arrangers Bank of America, Intesa Sanpaolo and Mitsubishi UFJ Lease & Finance joined in with $20 million apiece. Arranger Citi provided $14 million. Senior managers Chang Hwa Commercial Bank and Mega International Commercial Bank each took $11 million, while Taiwan Business Bank committed $7 million. Bank of Communications, Bank of Taiwan, Cathy United Bank, Chinatrust Commercial Bank, Hua Nan Commercial Bank, Land Bank of Taiwan, Taipei Fubon Commercial Bank, Taishin International Bank and Yuanta Commercial Bank also provided $7 million each.

Proceeds are to repay existing debt facilities and for general corporate purposes.

India

Coastal Ferrotech's Rs3.7 billion fundraising was sealed last week via sole mandated lead arranger Axis Bank.

The lead and participant Indian Bank provided Rs1 billion each. United Bank of India lent Rs750 million and Indian Overseas Bank took Rs500 million. UCO Bank rounded out the group with a Rs450 million ticket.

Proceeds are to support the construction of Greenfield Ferro Alloy manufacturing facility at Haldia, West Bengal in India.

Educomp Infrastructure & School Management has secured a Rs5.8 billion transaction via sole mandated lead arranger Axis Bank.

Axis Bank contributed Rs2.5 billion, while arranger Bank of India and participant Punjab National Bank provided Rs1 billion apiece. Andhra Bank and Corporation Bank came in with Rs750 million and Rs500 million respectively.

Proceeds are for project financing and capital expenditure purposes.

A Rs1.9 billion financing for KazStroyService Infrastructure India has been completed via arranger SBI Capital Markets.

Lenders State Bank of India committed Rs100 million, while Canara Bank joined in with Rs50 million. Union Bank of India took Rs45 million.

Proceeds are for project financing purposes.

Indonesia

Telekomunikasi Selular has secured a Rp5.55 trillion club financing via mandated lead arrangers Bank Central Asia, Bank Mandiri, Bank Negara Indonesia and Bank Rakyat Indonesia.

Final allocations saw Bank Central Asia and Bank Mandiri give Rp2 trillion each, while Bank Rakyat Indonesia and Bank Negara Indonesia pledged Rp800 billion and Rp750 billion respectively.

Proceeds are for general corporate purposes.

Japan

Sekisui Chemicals' $100 million three-year revolving credit has been signed via sole bookrunner Calyon, with Bank of America joining as mandated lead arranger and China Construction Bank coming in as a participant.

Proceeds are for working capital purposes.

Malaysia

A $190 million fundraising for Armada Oyo has been completed via mandated lead arrangers ABN AMRO, ANZ, Banca UBAE, Maybank International, Standard Chartered Bank, Sumitomo Mitsui Banking Corp and WestLB on a club basis.

With the parent Bumi Armada acting as sponsor, the 5.5-year term loan is split into a $100 million portion guaranteed by SACE and a $90 million tranche.

Allocations saw the coordinating arrangers Standard Chartered Bank, Sumitomo Mitsui Banking Corp and WestLB providing $40 million each, while ANZ and Maybank International took $20 million apiece. ABN AMRO and Banca UBAE rounded off the syndicate with $15 million each.

Proceeds are for project financing purposes.

Taiwan

E-Pin Optical Industrial's NT$600 million five-year financing was inked on August 14 via coordinating arrangers Chang Hwa Commercial Bank, EnTie Commercial Bank, Hua Nan Commercial Bank, Ta Chong Bank and Taiwan Cooperative Bank.

The transaction comprises a NT$400 million term loan and a NT$200 million revolving credit. Both tranches are priced at 125bp over the primary CP rate and offer a pricing floor of 2%.

Final allocations saw the five mandated leads contribute NT$100 million each. Bank of Taiwan came in with NT$60 million and Shanghai Commercial & Savings Bank provided NT$40 million.

Proceeds are for refinancing and working capital purposes.

A $30 million guarantee facility for First Steamship has been sealed via bookrunners Chang Hwa Commercial Bank, Hua Nan Commercial Bank and Taiwan Cooperative Bank.

Secured by a bulk container, the standby letter of credit features an annual L/C fee of 90bp.

Syndication saw Hua Nan Commercial Bank commit $12.6 million, while Chang Hwa Commercial Bank and Taiwan Cooperative Bank lent $6.3 million each. Participants First Commercial Bank and Shanghai Commercial & Savings Bank joined in with $2.4 million apiece.

Proceeds are to guarantee the issuance of euro convertible bond facilities. 

Win Sing Development's NT$3.5 billion four-year financing was completed last Friday via bookrunners Chinatrust Commercial Bank, Land Bank of Taiwan and Taiwan Cooperative Bank.

The debt package comprises NT$1.85 billion and NT$150 million term loans that pay a spread of 160bp over the one-year post office savings rate. There is also another NT$1.5 billion term loan that is priced at 170bp over the same benchmark rate. All tranches feature a minimum pre-tax margin of 2.5%.

Final allocations saw bookrunners Chinatrust Commercial Bank give NT$1.05 billion, while Land Bank of Taiwan and Taiwan Cooperative Bank contributed NT$675 million each. Coming in as a mandated arranger, Shin Kong Commercial Bank pledged NT$507 million. Senior manager Agricultural Bank of Taiwan lent NT$338 million and manager Bank of Panhsin ended up with NT$254 million.

Proceeds are to refinance existing debt facilities, to support land acquisition and to finance a construction project.