Australia
Qantas Airways completed a A$450 million four-year term loan through a consortium of 22 banks. Bookrunners ANZ, Barclays Capital and Commonwealth Bank of Australia underwrote the facility.
Syndication saw DBS, Mizuho, OCBC, Standard Chartered and SMBC join in as mandated lead arrangers. Bank of America, Citi, Deutsche Bank, DZ Bank, HSBC, Hua Nan Commercial Bank, Mega International Commercial Bank and UBS came in as arrangers while Bank SinoPac, Bank of Tokyo-Mitsubishi UFJ, Chang Hwa Commercial Bank, Chinatrust Commercial Bank, Taiwan Cooperative Bank and Yuanta Commercial Bank participated as managers.
Proceeds are for refinancing purposes.
China
Shouguang Meilun Paper signed a $40 million three-year term loan through sole bookrunner SMBC.
Rabobank came in as a mandated lead arranger while SEB participated as a lead arranger.
Proceeds are for the import of equipment and machineries purposes.
Hong Kong
Beijing Enterprises Water Group has obtained a HK$700 million five-year term loan through mandated lead arrangers Bank of China, Mizuho, Standard Chartered and Wing Lung Bank.
The facility is priced at 205bp over Hibor.
Proceeds are for general corporate purposes.
King Concord has secured a HK$1.6 billion three-year term loan through mandated lead arrangers Bank of China, Bank of East Asia, Standard Chartered, Tai Fung Bank and United Overseas Bank.
The deal is guaranteed by Shui On Land. Proceeds are to support the acquisition and development of the Hongqiao project in Shanghai.
India
Abhijeet Hazaribagh Toll Road signed a Rs2.5 billion 14-year project financing last week through sole mandated lead SBI Capital Markets.
Sponsored by Abhijeet Infrastructure, Abhijeet Roads and Corporate Ispat Alloys, the facility will be repaid in 47 quarterly installments after a six-month grace period.
Syndication saw participants Punjab National Bank contribute Rs750 million while State Bank of India took Rs700 million. India Infrastructure Finance provided Rs550 million while Bank of Baroda and State Bank of Patiala gave Rs250 million each.
Proceeds are for a road construction project in the state of Jharkhand.
MB Power (Madhya Pradesh) signed a Rs46.8 billion 14-year term loan last Thursday (April 21) through mandated lead arrangers Axis Bank and SBI Capital Markets. The facility will be repaid in 40 quarterly installments after a six-month grace period.
Final allocations saw Axis Bank pledge Rs23.4 billion while State Bank of India committed Rs18.9 billion. Participants L&T Infrastructure Finance lent Rs2.5 billion while State Bank of Bikaner & Jaipur and State Bank of Patiala gave Rs1 billion each.
Proceeds are to support the development of a 1,200MW coal-based thermal power plant in Madhya Pradesh.
Reliance Communication completed a $255 million six-year term loan through bookrunners and mandated lead arrangers ANZ, BNP Paribas, Credit Agricole, DBS Bank and Intesa Sanpaolo.
The bookrunners each took $50 million while arranger Hua Nan Commercial Bank joined in with $5 million.
Proceeds are to refinance existing debt facilities which were used for 3G-spectrum fee payment to the government.
Malaysia
Lotus Cars has secured a £270 million dual-tranche financing through sole bookrunner CIMB.
Guaranteed by Proton, the six-year facility consists of a £230 million term loan and a £40 million working-capital facility.
Final allocations saw the sole lead pledge £80 million while Maybank and OCBC came in as mandated lead arrangers with £70 million and £50 million respectively. Export-Import Bank of Malaysia lent £30 million while managers Affin Bank and EON Bank ended up with £15 million each.
Proceeds are for capital expenditure and working capital purposes.
Singapore
Sole bookrunner and underwriter DBS has completed an S$800 million four-year financing for Universal Group Holdings.
The term loan offers a margin of 267bp over SOR.
Final allocations saw the sole lead pledge S$415 million while United Overseas Bank came in with S$145 million. Lead arranger Bank of China lent S$100 million while arrangers Commonwealth Bank of Australia and Natixis ended up with S$70 million each.
Proceeds are to refinance the S$539 million 10-year term loan signed in 2006, and for general corporate purposes.
Taiwan
Sole bookrunner Taiwan Cooperative Bank completed a NT$470 million refinancing for Papago International Resort last week.
Secured by land and buildings, the 10-year term loan offers a margin of 200bp over the post office savings rate.
Syndication saw Chang Hwa Commercial Bank, Cota Commercial Bank, First Commercial Bank, Shin Kong Life Insurance and three township farmers’ associations join in as lenders.
Wele Mechatronic signed a NT$1 billion five-year dual-tranche fundraising last week through mandated lead arrangers E.Sun Commercial Bank, First Commercial Bank and Taipei Fubon Commercial Bank.
The deal comprises a NT$350 million term loan and a NT$650 million revolver, which are priced at 120bp and 140bp over the secondary CP rate, respectively.
Bank of Kaohsiung, Chang Hwa Commercial Bank, Hua Nan Commercial Bank, Industrial Bank of Taiwan, Shin Kong Commercial Bank and Taiwan Business Bank came in at general syndication.
Proceeds are for capital expenditure and working capital purposes.
Eversol Corp secured a NT$5 billion five-year debt on April 27 through joint bookrunners Chinatrust Commercial Bank, First Commercial Bank, Hua Nan Commercial Bank, Land Bank of Taiwan and Taipei Fubon Commercial Bank. The deal was oversubscribed and upsized from NT$4 billion.
The debt is split into a NT$4.5 billion term loan for capital expenditure and a NT$500 million revolving credit for working capital requirement. Both tranches feature a spread of around 120bp over the secondary CP rate with an interest rate floor of 2.1%.
Final allocations saw agent First Commercial Bank commit NT$730 million while the rest of the bookrunners gave NT$400 million each. Mandated leads Agricultural Bank of Taiwan, DBS, Entie Commercial Bank, Jih Sun International Bank and Taiwan Business Bank lent NT$300 million each, while co-arrangers Chang Hwa Commercial Bank, Mega International Commercial Bank and Taishin International Bank pledged NT$180 million, respectively. Managers Bank of Kaohsiung, Bank of Panhsin, Bank of Taiwan, Cosmos Bank, Taichung Commercial Bank, Taiwan Cooperative Bank and Taiwan Shin Kong Commercial Bank rounded up the syndicate with NT$90 million commitments each.
