China
East Hope Group has secured an Rmb800 million three-year loan through sole bookrunner Credit Agircole.
Final allocations saw Credit Agricole, ICBC and Natixis join in as mandated lead arrangers with Rmb200 million each while arrangers Shanghai Pudong Development Bank and United Overseas Bank lent Rmb100 million each.
Proceeds are for the purchase of commodities.
Hong Kong
Sole bookrunner Morgan Stanley Asia has completed a $180 million three-year term loan for Fortune Oil PRC Holdings. The deal was well-received and upsized from $150 million.
Syndication saw China Development Bank, Citic Bank International and Entie Commercial Bank come in as mandated lead arrangers while Cathay United Bank, Chang Hwa Commercial Bank, First Commercial Bank, Industrial Bank of Taiwan, Korea Development Bank, Malayan Business Bank, Bank Negara Indonesia, Taiwan Business Bank, Wing Lung Bank and Woori Global Markets Asia joined in at lower tiers.
Proceeds are to refinance the existing $80 million loan signed in April 2010 and general corporate purposes.
Sinopec Canada Energy and Sinopec Century Bright Capital Investment signed a $5 billion five-year term loan last week through a consortium of 20 banks. The facility was oversubscribed and upsized from $3.6 billion. Bookrunners ANZ, Bank of Tokyo-Mitsubishi UFJ, Citi, HSBC, Mizuho Corporate Bank and United Overseas Bank underwrote the facility.
Syndication saw Bank of America, J.P. Morgan, SMBC, OCBC and Westpac join in as mandated lead arrangers. Banco Santander, Bank of Communications, Bank of Nova Scotia, Canadian Imperial Bank of Commerce, China Construction Bank, DBS, DZ Bank, NTT Finance and Societe Generale joined in at lower tiers.
Proceeds are for refinancing.
General syndication for a HK$4 billion dual-tranche financing for Wharf Finance has been closed through bookrunners Standard Chartered and SMBC.
The deal, which is split equally into a term loan and a revolver, offers a margin of 68bp over Hibor.
Standard Chartered committed HK$1.4 billion while SMBC pledged HK$1 billion. Mandated coordinating arranger Fubon Bank lent HK$500 million while senior manager Bank of Taiwan contributed HK$200 million. Chang Hwa Commercial Bank, First Commercial Bank, Hua Nan Commercial Bank, Mega International Commercial Bank, Shanghai Commercial Bank and Taiwan Cooperative Bank rounded up with the syndicate with HK$150 million each.
Wharf (Holdings) acted as the guarantor for the facility. Proceeds are for general corporate purposes.
India
Kotak Mahindra Bank’s has sealed a $95 million and a €20 million one-year financing through bookrunners Commerzbank, Doha Bank, Standard Chartered and SMBC.
Final allocations saw Doha Bank and SMBC commit $25 million each, while Standard Chartered and Commerzbank committed $20 million and €20 million respectively. Banco do Brasil joined in as a mandated lead arranger with $15 million while arrangers Oberbank and Mega International Commercial Bank ended up with $5 million each.
Proceeds are for general corporate purposes.
Indonesia
Astra Sedaya Finance signed a $340 million three-year term loan through a consortium of 14 mandated lead arrangers.
The self-arranged fundraising saw ANZ Panin Bank, Bank Chinatrust Indonesia, Bank Mandiri (Singapore), Bank of East Asia (Singapore), Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Chinatrust Commercial Bank (Offshore Banking), HSBC (Malaysia), JPMorgan (Jakarta), Mizuho Corporate Bank, OCBC, Standard Chartered, SMBC and United Overseas Bank.
Proceeds are for general corporate purposes.
Japan
M.Setek secured a ¥35 billion onshore facility and a ¥20 billion offshore deal last week. Both transactions have a five-year tenor and were guaranteed by AU Optronics Corp.
Bookrunners and mandated leads for the onshore facility are Bank of Taiwan, Citi, Credit Agricole, DBS and Mizuho Corporate Bank. Final allocations saw Bank of America, Chang Hwa Commercial Bank, Chinatrust Commercial Bank and First Commercial Bank join in at lower levels.
Bank Sinopec, Mizuho Corporate Bank, Taipei Fubon Commercial Bank and Taiwan Cooperative Bank are bookrunners and mandated leads for the offshore facility. Syndication saw Cathay United Bank, Land Bank of Taiwan, Shanghai Commercial & Savings Bank, Ta Chong Bank and Taishin International Bank join in at lower levels.
Proceeds are for capital expenditure, working capital and to refinance existing indebtedness.
ORIX Corp and its four subsidiaries successfully completed a $600 million 364 day revolving credit through bookrunners BNP Paribas (Tokyo) and Credit Agricole.
ANZ, Commonwealth Bank of Australia, ING, Intesa Sanpaolo, Royal Bank of Scotland and Westpac joined in as mandated lead arrangers while Standard Chartered came in as a lead arranger. Banca Monte Dei Paschi Di Siena - MPS, Bank of America Merrill Lynch, Bank of Taiwan, Chinatrust Commercial Bank, Citibank (Japan), Deutsche Bank, Ta Chong Bank, Taishin International Bank, and Yuanta Commercial Bank participated at lower tiers.
Proceeds are to refinance an existing $525 million deal signed in April 2010.
Singapore
Bookrunners DBS and Standard Chartered have successfully closed a $276 million financing for ECOM Agroindustrial Asia and ECOM Agroindustrial Corp. The facility was heavily oversubscribed and upsized from $125 million.
The 364-day revolving credit is priced at 175bp over Libor.
ANZ and Bank of China came in as mandated lead arrangers with $30 million each while lead arrangers Bank of Tokyo-Mitsubishi UFJ and OCBC pledged $20 million each. Societe Generale, United Overseas Bank and KBC Bank joined in with $15 million, $12 million and $11 million respectively. Arrangers A BILLION AMRO Bank, BNP Paribas, ING Bank and Rabobank committed $10 million each while RHB Bank contributed $8 million. Bank of East Asia, Bank Mandiri, Bank Negara Indonesia and Mega International Commercial Bank ended up with $5 million each.
Proceeds are for general operations and working capital requirements of the borrower.
South Korea
Samsung-BP Chemicals has obtained a $20 million one-year onshore term loan through mandated lead arrangers Bank of Tokyo-Mitsubishi UFJ and SMBC.
Proceeds are to refinance the $20 million one-year tranche of the $40 million deal signed in April 2010 and for working capital purposes.
Taiwan
Joint mandated lead arrangers Bank of Taiwan and Mega Bills Financial Corp have signed a NT$6 billion five-year loan package for Hung Ching Development & Construction.
The loan comprises two term loans of NT$3.5 billion and NT$1 billion, respectively, and a NT$1.5 billion guarantee facility. All three bullet tranches are priced between 64bp and 84bp over the one-year post office savings rate.
Bank of Taiwan and Mega Bills Financial Corp gave NT$2.5 billion and NT$1.5 billion, respectively. Mangers Ta Chong Bank lent NT$1 billion, while Hua Nan Commercial Bank and Industrial Bank of Taiwan contributed NT$500 million each.
Proceeds are for a property development project.
Kao Fong Machinery concluded a NT$800 million five-year dual-tranche facility on April 27 through mandated leads E.Sun Commercial Bank and Land Bank of Taiwan.
The facility is split equally into a term loan and a revolver, which are priced at 100bp above the secondary CP rate.
Chang Hwa Commercial Bank, Entie Commercial Bank, First Commercial Bank and Hua Nan Commercial Bank are the participants.
Proceeds are for refinancing existing indebtedness and working capital requirements.
Sole bookrunner Mega International Commercial Bank has sealed a NT$8.1 billion five-year financing for Solartech Energy Corp.
The financing offers a spread of 90bp over the secondary CP rate.
Syndication saw Land Bank of Taiwan, Taipei Fubon Commercial Bank and Taiwan Cooperative Bank come in as mandated lead arrangers while 15 banks participated at lower levels.
Proceeds are for refinancing existing indebtedness, capital expenditure and working capital purposes.
A NT$4.2 billion seven-year debt for Star Energy Power Corp was signed on April 28 through bookrunners Bank of Taiwan and Land Bank of Taiwan.
The debt is divided into a NT$4.1 billion term loan and a NT$144 million guarantee facility, which are priced at 30bp over the two-year post office savings rate and 40.5bp per year, respectively.
Cathay United Bank, Chang Hwa Commercial Bank, Far Eastern International Bank, Hua Nan Commercial Bank, Mizuho Corporate Bank and Taiwan Cooperative Bank came in as managers.
Proceeds are for refinancing and working capital needs.
