Loan week, December 28-January 6

Australia

An A$810 million five-year multi-tranche loan for Battleship Borrower has been inked via bookrunners and mandated leads HSBC and National Australia Bank.

Battleship Borrower is the borrowing entity for Citi Infrastructure Investors (CII). The facility is split into a A$530 million acquisition term loan, a A$250 million term loan and a A$30 million revolver.

Syndication saw ANZ, Commonwealth Bank of Australia and Westpac join as mandated lead arrangers while Banco Santander and Credit Agricole came in as participants.

Proceeds are to support the acquisition of DP World, as well as for capital expenditure and working capital requirements.

Bluescope Steel’s A$1.4 billion dual-tranche refinancing has been signed via bookrunners ANZ, Commonwealth Bank of Australia, National Australia Bank and Westpac.

The loan is split equally into revolving credit facilities maturing in 2013 and 2015.

Bank of America Merrill Lynch, Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Citi, Credit Suisse, HSBC, J.P. Morgan, Standard Chartered Bank and Sumitomo Mitsui Banking Corp joined as participants.

Proceeds are to refinance a A$1.3 billion facility signed in July 2009.

A A$265 million one-year dual-tranche revolver for Ricegrowers has been sealed via mandated leads Commonwealth Bank of Australia and Westpac.

The financing is split into a A$210 million tranche and a A$55 million portion.

Syndication saw ANZ, National Australia Bank and Rabobank join at lower tiers.

Proceeds are to refinance existing indebtedness.

China

Beijing BOE Display Technology successfully obtained a $1.5 billion-equivalent dual-tranche financing on December 29 via sole lead China Development Bank.

Secured by land, factory and machinery, the nine-year deal is split into a Rmb5.2 billion tranche and an $800 million portion.

Agricultural Bank of China, Beijing Rural Commercial Bank, China Everbright Investment & Trust Corp and Hua Xia Bank came in as participants.

Proceeds are to support construction of an eighth generation TFT-LCD display production line.

A $48 million-equivalent dual-tranche term loan for Toyo Tires Zhangjiagang was signed on December 29 via sole mandated lead arranger and bookrunner Bank of Tokyo-Mitsubishi UFJ.

Guaranteed by Toyo Tire & Rubber, the five-year deal is split into a $44 million-equivalent tranche and a $4 million portion.

Syndication saw Mizuho Corporate Bank (China) come in as a lead arranger, while China Construction Bank, Shanghai Pudong Development Bank, Sumitomo Trust & Banking (Shanghai) and Yamaguchi Bank (Dalian) joined as participants.

Proceeds are for the purchase of equipment.

Hong Kong

A €600 million five-year term loan for A.S. Watson (Europe) Finance has been completed as a club deal with mandated leads ANZ, Bank of China, HSBC, ING Bank, Mizuho Corporate Bank, Societe Generale, Sumitomo Mitsui Banking Corp and UBS providing the funds equally.

The facility is guaranteed by Hutchison Whampoa, and features an all-in pricing of 90bp over Euribor.

Proceeds are to refinance existing indebtedness and for general corporate purposes.

India

A Rs10.8 billion 15-year term loan for GMR OSE Hungund Hospet Highways has been concluded via sole mandated lead arranger Axis Bank.

Bank of India, Central Bank of India, India Infrastructure Finance, Indian Overseas Bank, Punjab National Bank, South Indian Bank and UCO Bank joined as participants.

Proceeds are for project financing purposes.

Tata Steel secured a $5.8 billion-equivalent multi-tranche financing on December 31 via bookrunners Bank of America Merrill Lynch, BNP Paribas, Citi, Credit Agricole, Deutsche Bank, HSBC, ICICI Bank, ING Bank, J.P. Morgan, Royal Bank of Scotland, Rabobank, Standard Chartered Bank and State Bank of India.

The debt package, borrowed via Tata Steel UK Holdings and Tata Steel Netherlands Holdings, is split into a €2.2 billion five-year term loan, and €900 million and $402 million seven-year portions. There is also a £690 million five-year revolving credit facility.

Syndication saw Bank of Tokyo-Mitsubishi UFJ and Intesa Sanpaolo (Hong Kong) come in as mandated lead arrangers while Bank of Baroda and Bank of India joined as lead arrangers. Senior managers Canara Bank, DBS Bank, DnB NOR Bank, UniCredit and Syndicate Bank (London) participated as senior managers, while First Gulf Bank, Mizuho Corporate Bank and State Bank of India (Mauritius) came in as managers.

Proceeds are to refinance a £3.6 billion facility signed in November 2007 to support the acquisition of Corus Group and for working capital purposes.

Indonesia

PT Huawei Tech Investment’s $41 million receivable financing was signed on December 28 via sole mandated lead arranger Standard Chartered Bank.

Guaranteed by promissory notes issued by the buyer, the 2.5-year deal will be repaid in five semi-annual installments.

Proceeds are to support the purchase of undersea cable equipment from Huawei Technologies.

New Zealand

Auckland Council’s NZ$600 million multi-tranche revolver has been sealed via sole bookrunner Bank of New Zealand.

The deal consists of a NZ$200 million one-year tranche, a NZ$300 million two-year portion and a NZ$100 million three-year facility.

Final allocations saw the lead pledge NZ$120 million, while participants ANZ, Commonwealth Bank of Australia and Westpac gave NZ$120 million each. Citibank and HSBC provided NZ$60 million apiece.

Proceeds are for general corporate purposes.

Perpetual Trust, trustee for the Goodman Property Trust, has secured a NZ$330 million multi-tranche facility on a club basis via ANZ, Bank of New Zealand, Commonwealth Bank of Australia, KiwiBank and Westpac.

The revolver is split evenly with tenors of one year, three years and five years.

ANZ, Bank of New Zealand, Commonwealth Bank of Australia and Westpac committed NZ$75 million each, while KiwiBank lent NZ$30 million.

Proceeds are to refinance existing indebtedness.

Pakistan

Water & Power Development Authority – WAPDA’s PKR6.5 billion one-year term loan was signed on December 29 via sole bookrunner Standard Chartered (Pakistan).

Guaranteed by Government of Pakistan, the deal is priced at 125bp over Kibor.

Bank Alfalah and Askari Bank came in as lead arrangers in the facility.

Proceeds are to refinance existing foreign currency loans.

Singapore

A $330 million seven-year shipping loan for Evergreen Marine Corp (Singapore) has been completed via mandated lead arrangers Chang Hwa Commercial Bank, First Commercial Bank, Land Bank of Taiwan and Mega International Commercial Bank.

The term loan is divided into four $82 million tranches that pay 85bp over three-month Libor.

Final allocations saw Mega International Commercial Bank commit $70 million, while Chang Hwa Commercial Bank, First Commercial Bank and Land Bank of Taiwan lent $65 million apiece.  Chinatrust Commercial Bank, Hua Nan Commercial Bank and Cathay United Bank took $35 million, $25 million and $10 million respectively.

Proceeds are for ship financing.

Taiwan

Compeq Manufacturing’s NT$5.0 billion five-year term loan has been sealed via a consortium of 14 bookrunners.

The amortizing loan is priced at 85bp over the 90-day secondary CP rate with a minimum interest rate of 1.5% throughout the tenor.

Bank of Taiwan, Chang Hwa Commercial Bank, China Development Industrial Bank, Chinatrust Commercial Bank, E Sun Commercial Bank, Entie Commercial Bank, Far Eastern International Bank, Industrial Bank of Taiwan, Land Bank of Taiwan, Shanghai Commercial & Savings Bank, Ta Chong Bank, Taipei Fubon Commercial Bank, Taishin International Bank and Taiwan Cooperative Bank led the transaction as bookrunners while First Commercial Bank, Hua Nan Commercial Bank, Mega International Commercial Bank, Shin Kong Commercial Bank and Taichung Commercial Bank joined at lower tiers.

Proceeds are to refinance an existing NT$4.0bn facility signed in November 2007.

Hsin Han Development has secured a NT$5.5 billion 4.5-year term loan via sole mandated arranger Chang Hwa Commercial Bank.

The bullet loan comprises a NT$3.7 billion tranche and a NT$1.8 billion portion that offer margins of 140bp and 160bp over the secondary CP rate respectively. There is a minimum interest rate of 2%.

Syndication saw the mandated arranger give NT$2.0 billion, while Agricultural Bank of Taiwan and Taishin International Bank contributed NT$1.3 billion each. Bank Sinopac and Taiwan Business Bank lent NT$650 million and NT$250 million respectively.

Proceeds are to fund the purchase of land and to support construction costs.

Wealthy Joy and Follow International have secured a $400 million five-year term loan via bookrunners Cathay United Bank, Standard Chartered Bank and Taipei Fubon Commercial Bank.

Final allocations saw bookrunners Standard Chartered Bank give $80 million, while Cathay United Bank and Taipei Fubon Commercial Bank committed $50 million each. Lead arrangers Ta Chong Bank lent $35 million and Bank Sinopac and Taiwan Business Bank (Offshore Banking) gave $30 million each.

Arrangers Chang Hwa Commercial Bank contributed $25 million and Bank of East Asia (Kaohsiung) took $20 million. Managers Chinatrust Commercial Bank, EnTie Commercial Bank, Far Eastern International Bank, King’s Town Bank, Shanghai Commercial & Savings Bank, Taishin International Bank, Taiwan Shin Kong Commercial Bank and Yuanta Commercial Bank ended up with $10 million apiece.

The deal is guaranteed by Niceworld International and Noble World International. Proceeds are to refinance Follow International's existing loan signed in 2008 for investment and working capital purposes.

A NT$52.4 billion multi-tranche facility for Wealth Media, Hao Wei and 16 of their subsidiaries has been inked via bookrunners Bank Sinopac, Bank of Taiwan, Cathay United Bank, China Development Industrial Bank, Chinatrust Commercial Bank, DBS Bank, Taipei Fubon Commercial Bank and Mega International Commercial Bank.

The facility consists of a NT$35.2 billion 7.5-year tranche, a NT$16.0 billion eight-year term loan and a NT$1.2 billion eight-year revolver, which are priced between 150bp and 310bp over the secondary CP rate.

Chang Hwa Commercial Bank, E Sun Commercial Bank, Entie Commercial Bank, First Commercial Bank, Hua Nan Commercial Bank, Industrial Bank of Taiwan, King’s Town Bank, Land Bank of Taiwan, Shanghai Commercial & Savings Bank, Taishin International Bank, Taiwan Business Bank and Yuanta Commercial Bank participated at lower tiers.

Proceeds are to support the acquisition of cable TV company Kbro, from Carlyle Group, to refinance existing indebtedness and for working capital requirements.

Vietnam

Petrovietnam Exploration Production Corp’s $430 million five-year fundraising was signed on December 29 via sole bookrunner Standard Chartered Bank.

The five-year financing is priced at 245bp over Libor.

Final allocations saw the bookrunner and mandated lead arrangers Bank of Tokyo-Mitsubishi UFJ, BNP Paribas (Singapore), Mizuho Corporate Bank (Hanoi), Oversea-Chinese Banking Corp and Sumitomo Mitsui Banking Corp contribute $50 million each. Cathay United Bank and Intesa Sanpaolo (Singapore) committed $30 million each, while lead arrangers Chinatrust Commercial Bank and Maybank International lent $15 million apiece. Bank of Taiwan (Singapore), Chang Hwa Commercial Bank (Singapore), First Commercial Bank (Offshore Banking) and State Bank of India (Singapore) ended up with $10 million each.

Proceeds are for general corporate and capital expenditure purposes.