Australia
Ageis Securitisation Nominees' A$237 million project financing has been inked via mandated lead arrangers Commonwealth Bank of Australia, WestLB and Bendigo Bank.
The five-year debt package comprises a A$222 million construction term loan, a A$13 million debt service reserve facility and a A$2 million revolving credit.
Proceeds are to finance the Ararat Prison Project.
DuluxGroup (Finance)'s A$400 million dual-tranche fundraising has been signed on a club basis via mandated lead arrangers ANZ, Bank of Scotland International, Commonwealth Bank of Australia, HSBC, National Australia Bank, United Overseas Bank and Westpac.
The revolver is split into a A$300 million three-year portion and a A$100 million five-year tranche.
Proceeds are to fund the costs associated with the group's demerger from Orica and for general corporate purposes.
Hong Kong
Fosun International's $140 million three-year debt package was signed on May 31 via bookrunner and mandated lead arranger Credit Agricole.
Final allocations saw Credit Agricole pledge $20 million, while mandated lead arrangers China Development Bank, Natixis, and Bank of China contributed $40 million, $22 million, and $20 million respectively. Joining in as arrangers were Industrial & Commercial Bank of China and Nanyang Commercial Bank, which ended up with $10 million apiece. Senior manager Cathay Bank gave $8 million, while China Construction Bank and Bank Negara Indonesia contributed $5 million each.
Proceeds are to refinance existing indebtedness and for working capital purposes.
An HK$800 million four-year term loan for Fountain Set was launched into syndication in May via mandated lead arrangers Bank of China, HSBC and Standard Chartered Bank. The deal is guaranteed by Fountain Set, Lake Side Printing Factory and Ocean Yam Dyeing Factory.
The deal is expected to be closed by the end of July.
A HK$3.5 billion self-arranged transaction for Hong Kong Air Cargo Terminals was signed last week via mandated lead arrangers ANZ, Bank of East Asia, Bank of Tokyo-Mitsubishi UFJ, Credit Agricole, HSBC, Mizuho Corporate Bank, Oversea-Chinese Banking Corp and Sumitomo Mitsui Banking Corp.
The debt package consists of a HK$2.6 billion 4.25-year term loan and a HK$940 million four-year revolving credit.
Proceeds are for general corporate purposes.
Right Lane's $200 million three-year term loan is expected to close in June. The financing is fully underwritten by mandated lead arrangers HSBC and Royal Bank of Scotland.
Sinochem's $700 million five-year credit facility was launched into senior syndication on May 27 via ANZ, Bank of Tokyo-Mitsubishi UFJ, Credit Agricole and Standard Chartered. General syndication will commence shortly.
Proceeds are for general corporate purposes.
India
A Rs49.0 billion one-year bullet loan for Aircel was sealed on May 25 via sole mandated lead arranger IDBI Bank.
The debt comprises two term loans of Rs22.0 billion and Rs27.0 billion respectively.
Syndication saw Allahabad Bank, Bank of Baroda, Canara Bank, Federal Bank, Jammu & Kashmir Bank, Punjab & Sind Bank, Syndicate Bank, United Bank of India and Yes Bank join in as participants.
Proceeds are to support the acquisition of 3G and BWA licenses for providing mobile cellular services.
Japan
FI ELM Leasing has secured a ¥4.0 billion 9.5-year term loan via sole bookrunner and mandated lead arranger Credit Agricole with Sumitomo Mitsui Finance & Leasing coming in as a participant.
Proceeds are for aircraft financing purposes.
Philippines
Petron Corp's $355 million five-year term loan was sealed on June 1 via bookrunners Bank of Tokyo-Mitsubishi UFJ, Standard Chartered Bank and ANZ. The deal was oversubscribed and upsized from $350 million.
Final allocations saw Bank of Tokyo-Mitsubishi UFJ and Standard Chartered Bank commit $70 million apiece, while ANZ pledged $50 million.
Joining in as mandated lead arrangers were Maybank Group and Chinatrust (Philippines) Commercial Banking with $70 million and $50 million respectively. Mega International Commercial Bank came in as an arranger with $20 million. Manager Taiwan Cooperative Bank took $10 million and Cathay United Bank, HSBC, and NORD/LB took $5 million each.
Proceeds are for refinancing and general corporate purposes.
Singapore
Morganite's S$1.6 billion self-arranged transferrable club deal has been secured via mandated lead arrangers Arab Bank, Bank of China, Bank of Tokyo-Mitsubishi UFJ, DBS Bank, HSBC, Malayan Banking (Maybank), Natixis, Oversea-Chinese Banking Corp and United Overseas Bank.
The deal is split into three 4.25-year portions of S$870 million, S$366 million and S$255 million, which are priced at 215bp over Singapore dollar swap rate. There is also a $134 million guarantee facility with a margin of 135bp over the same rate.
Proceeds are to refinance a S$2.0 billion credit facility signed in June 2008, to finance construction costs and for general corporate purposes.
South Korea
General syndication of LG Display's $600 million financing has been closed with two banks joining in as lead arrangers.
The three-year facility comprises a $250 million onshore term loan and a $350 million offshore loan-style floating-rate note (FRN).
For the onshore portion, bookrunners Korea Development Bank, Korea Finance Corp, Mizuho Corporate Bank and Sumitomo Mitsui Banking Corp committed $50 million each, while Bank of America Merrill Lynch lent $40 million. Bank of China (Seoul) came in as a lead arranger with a hold of $10 million.
For the offshore facility, bookrunners ANZ, Credit Agricole, DBS Bank, HSBC and Standard Chartered Bank gave $50 million each, while BNP Paribas contributed $40 million. Scotiabank took $30 million, Korea Development Bank pledged $20 million and Shanghai Commercial & Savings Bank joined in as a lead arranger by lending $10 million.
Proceeds are for capital expenditure and working capital purposes.
Shinhan Bank's €150 million term loan has been completed via a consortium of 11 mandated lead arrangers with Commerzbank acting as the facility agent.
The 366-day term loan is priced at 60bp over Euribor.
Final allocations saw Commerzbank give €14 million, while Barclays Capital, BNP Paribas, Credit Agricole (Seoul), HSBC (Seoul), ING Bank (Seoul), Landesbank Baden-Wuerttemberg (LBBW), Natixis (Hong Kong), Oversea-Chinese Banking Corp, RZB-Austria (Singapore) and Standard Chartered Bank (Hong Kong) lent €13.6 million each.
Proceeds are to refinance and upsize a €90 million one-year club facility completed in March 2009 and to provide for general funding requirements.
Taiwan
A-Data Technology's NT$3.6 billion three-year revolver has been completed via bookrunners Bank of Taiwan, Cathay United Bank, Chang Hwa Commercial Bank, E. Sun Commercial Bank, First Commercial Bank, Hua Nan Commercial Bank, Shanghai, Taiwan Business Bank, Taiwan Cooperative Bank and Yuanta Commercial Bank.
The deal is split into NT$3.6 billion and $114 million revolvers but the total outstanding amount of the two tranches cannot exceed NT$3.6 billion. The new Taiwan dollar and US dollar tranches are priced at 65bp over the secondary CP rate and 73bp over Libor respectively.
Bank of Kaohsiung and Shanghai Commercial & Savings Bank came in as participants.
Proceeds are for working capital purposes.
First Securities has successfully secured a NT$6.0 billion three-year facility via sole mandated lead arranger Mega International Commercial Bank.
The deal consists of two guarantee facilities of NT$4.0 billion and NT$2.0 billion and features an annual guarantee fee of 50bp.
Final allocations saw the lead take NT$2.1 billion, while Chang Hwa Commercial Bank, China Development Industrial Bank, E. Sun Commercial Bank, Far Eastern International Bank, Shanghai Commercial & Savings Bank, Ta Chong Bank, Taipei Fubon Commercial Bank and Union Bank of Taiwan committed NT$330 million apiece. Jih Sun International Bank and Yuanta Commercial Bank pledged NT$300 million and NT$264 million respectively. Cathay United Bank, Industrial Bank of Taiwan and Shin Kong Commercial Bank contributed NT$132 million each.
Proceeds are for working capital purposes.
A NT$6.0 billion five-year dual-tranche revolving credit for Hung Li Steel Corp was inked on May 27 via bookrunners Bank of Taiwan, Chang Hwa Commercial Bank, Chinatrust Commercial Bank, Mega International Commercial Bank, Taipei Fubon Commercial Bank, Taishin International Bank, Taiwan Business Bank and Taiwan Cooperative Bank.
The facility is split into NT$3.5 billion and NT$2.5 billion revolvers which are priced at 65bp and 70bp over the secondary CP rate respectively, with a 1.5% interest rate floor.
Final allocations saw Taiwan Cooperative Bank, Bank of Taiwan and Taipei Fubon Commercial Bank commit NT$960 million, NT$780 million and NT$720 million respectively. Chang Hwa Commercial Bank, Chinatrust Commercial Bank, Mega International Commercial Bank, Taishin International Bank and Taiwan Business Bank contributed NT$540 million each. Land Bank of Taiwan took NT$280 million while Cathay United Bank, China Development Industrial Bank, E. Sun Commercial Bank, Far Eastern International Bank and Industrial Bank of Taiwan lent NT$120 million apiece.
Proceeds are for refinancing existing indebtedness and working capital purposes.
Sinbon Electronics Corp's NT$1.1 billion three-year loan (completed in March 2009) was amended on May 28 via mandated lead arrangers HSBC, Land Bank of Taiwan, Ta Chong Bank and Taishin International Bank.
The margin was amended to 140bp over the secondary CP rate from 100bp over the primary CP rate.
Managers DBS Bank, Mega International Commercial Bank and Taipei Fubon Commercial Bank were included in the original deal.
Proceeds are for refinancing and working capital purposes.
Wah Hong Industrial Corp's NT$1.5 billion five-year transaction was signed on May 27 via mandated lead arrangers Chang Hwa Commercial Bank, China Development Industrial Bank, Chinatrust Commercial Bank, E. Sun Commercial Bank, Industrial Bank of Taiwan, Mega International Commercial Bank, Ta Chong Bank, Taipei Fubon Commercial Bank and Taishin International Bank. The deal was upsized from NT$1.2 billion.
The fundraising comprises a NT$500 million term loan and a NT$1.0 billion equivalent dual-currency revolver. The term loan offers a spread of 85bp over the secondary CP rate, while the revolver features a spread of 85bp when drawn in new Taiwan dollars and 95bp over Libor when drawn in US dollars. A 1.6% interest rate is in place for the first six months.
Bank of East Asia and Taiwan Business Bank came in as participants.
Proceeds are for refinancing existing indebtedness and working capital purposes.
A NT$7.0 billion dual-tranche term loan for Winbond Electronics Corp was completed on May 31 via joint bookrunners Bank of Taiwan, Chinatrust Commercial Bank, E. Sun Commercial Bank, First Commercial Bank, Taishin International Bank and Taiwan Cooperative Bank. The deal was oversubscribed and upsized from NT$4.0 billion.
The term loan is split into a NT$3.5 billion five year-tranche and a NT$3.5 billion three-year portion with a two year extension option. The price is between 105bp and 140bp over the primary CP rate depending on the net profit margin.
Final allocations saw bookrunners Bank of Taiwan, Chinatrust Commercial Bank and First Commercial Bank commit NT$700 million apiece, while E. Sun Commercial Bank, Taishin International Bank and Taiwan Cooperative Bank took NT$600 million each. Mandated lead arrangers Taiwan Business Bank and Yuanta Commercial Bank contributed NT$500 million apiece. Participants Agricultural Bank of Taiwan, Chang Hwa Commercial Bank, China Development Industrial Bank, Land Bank of Taiwan and Taiwan Life Insurance held NT$300 million each, while Entie Commercial Bank and Far Eastern International Bank pledged NT$200 million respectively. Bank of Panhsin lent NT$100 million.
Proceeds are for refinancing existing indebtedness and capital expenditure purposes.
