Loan week, March 19-25

Australia

Freight Rail Equipment's A$191 million multi-tranche facility has been signed via ACME Funds Management, Commonwealth Bank of Australia, GE Capital Finance and Suncorp Metway.

The deal is split into A$145 million, A$8 million and A$39 million five-year term loans.

Proceeds are for general corporate purposes.

Southern Cross Media Australia's A$375 million fundraising has been inked on a club basis via mandated leads ANZ, Bank of Scotland International, GE Capital, Macquarie Bank, National Australia Bank and WestLB.

The transaction is split into a A$225 million facility, a A$75 million term loan and a $75 million revolving credit.

Final allocations saw National Australia Bank take A$115 million, while ANZ joined in with A$75 million. Bank of Scotland International and WestLB lent A$50 million each and GE Capital and Macquarie Bank came in with A$45 million and A$40 million respectively.

Proceeds are to refinance existing debt facilities.

A A$380 million club deal for TPG Telecom has been sealed via mandated lead arrangers ANZ, Natixis, Societe Generale and Westpac.

The three-year financing comprises a A$200 million term loan, a A$160 million tranche and a A$20 million revolving credit.

Proceeds are for working capital purposes.

China

Sumitomo Mitsui Finance & Leasing (China)'s Rmb400 million fundraising was inked last week via sole mandated lead arranger and bookrunner Sumitomo Mitsui Banking Corp, with Bank of Communications, Bank of East Asia and Bank of Shanghai joining in as arrangers.

The deal is guaranteed by Sumitomo Mitsui Finance & Leasing and proceeds are to support the purchase of lease assets.

A Rmb500 million three-year term loan for Xiaoyi Xingan Chemical was concluded earlier this week via sole mandated lead arranger and bookrunner Standard Chartered Bank.

Guaranteed by Hangzhou JinJiang Group, the deal pays a spread of 117% of the PBOC rate.

The lead contributed Rmb200 million, while lead arranger China Minsheng Bank took Rmb300 million.

Proceeds are to repay outstanding indebtedness.

Hong Kong

C&C Components' HK$225 million three-year facility was inked last week via sole coordinating arranger Standard Chartered Bank.

Guaranteed by Defond Holdings, Defond Electrical Industries and Waverton International, the deal was priced at 280bp over Hibor.

The lead held HK$150 million, while participant Hang Seng Bank joined in with a HK$75 million ticket.

Proceeds are to refinance a HK$360 million dual-tranche facility signed in April 2007.

India

A Rs4.5 billion deal for Asian Colour Coated was sealed on March 22 via sole mandated lead arranger SBI Capital Markets. 

The 9.25-year term loan was priced at the State Bank Advance Rate with a commitment fee of 1.2%.

The participants were Andhra Bank, Bank of Baroda, Corporation Bank, Dena Bank, Indian Overseas Bank, Karnataka Bank, State Bank of Hyderabad, State Bank of Indore, State Bank of Mysore, State Bank of Patiala and Union Bank of India.

Proceeds are for project financing purposes.

Cauvery Power Generation Chennai's Rs1.8 billion project financing has been inked via sole bookrunner SBI Capital Markets.

The 12-year term loan offers a spread of 50bp over the State Bank Advance Rate and will be repaid through 36 quarterly installments.

Final allocations saw State Bank of Travancore take Rs500 million, while Punjab National Bank came in with Rs390 million. State Bank of Hyderabad and State Bank of India lent Rs350 million each, and State Bank of Mysore ended up with Rs250 million.

Proceeds are to develop a 63MW thermal power plant at Gummudipoondi, Tiruvallur District.

A Rs6.0 billion project financing for Essar Bulk Terminal Salaya has been concluded via sole bookrunner SBI Capital Markets.

The 12-year term loan features a commitment fee of 75bp and will be repaid through 40 quarterly installments after a six-month grace period.

Syndication saw Punjab National Bank and Union Bank of India take Rs1.7 billion each, while Allahabad bank and Corporation Bank joined in with Rs1.3 billion apiece.

Proceeds are to support the construction of a coal and petcoke handling facility at Salaya Port, Jamnagar District, Gujarat.

HDFC Bank's $100 million dual-tranche fundraising was signed on March 19 via bookrunners Credit Agricole, Natixis and Standard Chartered Bank.

The term loan is split into a $33 million 1.25-year tranche and a $67 million two-year portion.

Final allocations saw Natixis and Standard Chartered Bank contribute $17 million each, while Credit Agricole committed $15 million. Arrangers Raiffeisenlandesbank Niederoesterreich-Wien (RLB NÖ-Wien) took $10 million, while Banca Monte dei Paschi di Siena (Hong Kong), E.Sun Commercial Bank (Offshore Banking), Export-Import Bank of the Republic of China, Hua Nan Commercial Bank (Offshore Banking), Land Bank of Taiwan (Offshore Banking), Mega International Commercial Bank (Offshore Banking) and Taiwan Cooperative Bank (Offshore Banking) ended up with $6 million apiece.

Proceeds are for general corporate purposes.

Idea Cellular's Rs48 billion eight-year term loan has been completed via sole mandated lead arranger IDBI Bank. 

Final allocations saw Canara Bank take Rs15 billion, and Bank of India, IDBI Bank, Oriental Bank of Commerce, UCO Bank, Union Bank of India and United Bank of India contributed Rs5 billion apiece. Bank of Baroda rounded out the group with Rs3 billion.

Proceeds are for project financing purposes.

IVRCL Indore Gujarat Tollways secured a Rs11.4 billion 15-year term loan on March 22 via sole mandated lead arranger Axis Bank.

Syndication saw Andhra Bank, Bank of Baroda, Bank of India, India Infrastructure Finance Company, Indian Bank, State Bank of Indore and Tamilnad Mercantile Bank join in as participants.

Proceeds are for project financing purposes.

A Rs12.5 billion financing for JSW Steel was signed last week via sole mandated lead arranger SBI Capital Markets.

The nine-year term loan features a margin of 100bp over the State Bank Advance Rate.

Allocations saw Bank of Baroda, Central Bank of India and State Bank of India pledge Rs3.6 billion, Rs2.9 billion and Rs2.5 billion respectively. Bank of India took Rs2.1 billion, and Dena Bank ended up with Rs1.4 billion.

Proceeds are to support the expansion of an existing steel factory at Bellary, Karnataka.

Reliance Infratel's $250 million five-year and one-month club deal was sealed on March 19 via mandated lead arrangers ANZ, BNP Paribas, Credit Agricole, Mizuho Corporate Bank and WestLB.

Proceeds are for capital expenditure purposes.

Vadinar Port Terminal's Rs6.5 billion transaction has been signed via sole mandated lead arranger SBI Capital Markets.

The 11.75-year term loan was priced at the Benchmark Prime Lend Rate.

Final allocations saw co-arranger Canara Bank take Rs2.5 billion. Participant Punjab National Bank contributed Rs1.5 billion, while Federal Bank took Rs1 billion. State Bank of Mysore and Punjab & Sind Bank ended up with Rs850 million and Rs650 million respectively.

Proceeds are to support the development of the container terminal.

South Korea

Yeong Yang Wind Power Corp successfully secured a €46 million 14-year club deal last week via mandated lead arrangers BNP Paribas and HSBC.

BNP Paribas committed €31 million and HSBC came in with €15 million.

Proceeds are to finance the construction of a wind farm in Taegu City, South Korea.

Taiwan

Eternal Chemical's NT$3 billion club transaction was signed last week via mandated leads Cathay United Bank, China Development Industrial Bank, Industrial Bank of Taiwan, Taipei Fubon Commercial Bank and Taiwan Cooperative Bank.

The five-year term loan was priced at 65bp over the five-year new Taiwan dollar IRS.

Proceeds are for working capital purposes.

A $36 million three-year club deal for Rechi Holdings was inked on March 24 through mandated lead arrangers Bank Sinopac, Chinatrust Commercial Bank, Entie Commercial Bank, Jih Sun International Bank, Mega International Commercial Bank, Ta Chong Bank, Taipei Fubon Commercial Bank, Taishin International Bank and Taiwan Business Bank.

The revolver was priced at 165bp over Libor with a commitment fee of 20bp. The leads committed $4 million each.

Proceeds are to part refinance an existing loan signed in August 2006 and for working capital purposes.

Qisda Corp has successfully closed a NT$9 billion five-year dual-tranche financing via bookrunners Bank of Taiwan, Chinatrust Commercial Bank, First Commercial Bank, Industrial Bank of Taiwan, Land Bank of Taiwan, Mega International Commercial Bank, Ta Chong Bank, Taishin International Bank, and Taiwan Cooperative Bank.

The financing consists of NT$7.5 billion and NT$1.5 billion revolvers, which were priced at 65bp and 80bp over the primary CP rate respectively. There is a two-year extension option for the NT$7.5 billion tranche. 

The bookrunners took NT$732 million each, while co-arrangers Cathay United Commercial Bank, DBS Bank and Taiwan Business Bank pledged NT$402 million apiece. Co-arranger Chang Hwa Commercial Bank contributed NT$321 million, while lead managers Hua Nan Commercial Bank and Taichung Commercial Bank held NT$201 million each. Taipei Fubon Commercial Bank lent NT$225 million, while Shanghai Commercial & Savings Bank and Shin Kong Commercial Bank committed NT$150 million and NT$108 million respectively.

Proceeds are for the refinancing of an existing loan and for working capital purposes.

Thailand

A dual-currency debt package for Enkei Thai has been inked via sole mandated lead arranger Sumitomo Mitsui Banking Corp, with Shizuoka Bank, Siam Commercial Bank and Sumitomo Trust & Banking joining at lower levels.

The seven-year transaction is divided into a $45 million term loan and a Bt1.1 billion portion.

Guaranteed by Enkei Corp, the margin is 120bp per annum. Proceeds are to support the purchase of assets.

Vietnam

A $200 million five-year secured term loan for Vietnam National Coal-Mineral Industries Group (Vinacomin) has been completed as a club deal via mandated lead arrangers Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Credit Agricole, Credit Suisse, Natixis, Societe Generale and Standard Chartered Bank.

Proceeds are for general corporate purposes.