India
Jayaswal Neco Industries has completed an Rs18 billion 10-year term loan through sole bookrunner and mandated lead arranger ICICI Bank.
Final allocations saw the lead provide Rs4.6 billion while participant Punjab National Bank lent Rs4.5 billion. Union Bank of India and Oriental Bank of Commerce pledged Rs3 billion and Rs1.5 billion respectively. Bank of India, State Bank of Bikaner & Jaipur and State Bank of Travancore lent Rs1 billion each while Indian Overseas Bank and State Bank of Hyderabad took Rs750 million each.
Proceeds are for project financing purposes.
An Rs88.9 billion 15-year term loan for Lalitpur Power Generation was signed last week (August 24) through joint bookrunners IDBI Bank and SBI Capital Markets.
The facility will be repaid in 40 quarterly instalments after a six-month grace period.
Syndication saw Allahabad Bank, Bank of Baroda, Bank of India, Canara Bank, Central Bank of India, Federal Bank, Indian Overseas Bank, Oriental Bank of Commerce, PTC India Financial Services, Punjab National Bank, Punjab & Sind Bank, State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Patiala, UCO Bank, Union Bank and United Bank of India join in as participants.
Proceeds are to support the development of a 2GW (3 x 660MW units) coal-fired power plant at Lalitpur, Uttar Pradesh.
Philippines
Smart Communications has inked a $50 million five-year term loan on a club basis through mandated lead arrangers Bank of Tokyo-Mitsubishi UFJ, HSBC and Mizuho, who contributed equally to the facility.
Proceeds are for general corporate purposes.
Taiwan
Formosa Petrochemical signed a $900 million three-year revolver on Monday (August 29) through a consortium of eight bookrunners and mandated lead arrangers.
Secured by petroleum, the deal is priced at 52bp over three-month or six-month Libor.
Syndication saw Citi contribute $160 million while Bank of Taiwan, Hua Nan Commercial Bank and Land Bank of Taiwan committed $100 million each. Chang Hwa Commercial Bank, First Commercial Bank, Mizuho Corporate Bank and SMBC took $90 million each while Export-Import Bank of the Republic of China and DBS came in as participants with $50 million and $30 million respectively.
Proceeds are for working capital purposes.
Genesis Photonics and Elite State Holdings have obtained a NT$6 billion and $15 million financing through bookrunners and mandated lead arrangers Bank of Taiwan, Chang Hwa Commercial Bank, Chinatrust Commercial Bank, First Commercial Bank, Hua Nan Commercial Bank, Land Bank of Taiwan, Mega International Commercial Bank, Taiwan Business Bank and Yuanta Commercial Bank.
The five-year fundraising is split into term loans of NT$3 billion, NT$2.5 billion and $15 million, and a NT$500 million revolver.
Agricultural Bank of Taiwan, DBS, Ta Chong Bank, Taipei Fubon Commercial Bank and Taiwan Cooperative Bank joined in as coordinating banks while Bank Sinopac, Cathay United Bank, E.Sun Commercial Bank, Shanghai Commercial & Savings Bank, Taichung Commercial Bank and Taishin International Bank participated at lower tiers.
Proceeds are for refinancing, capital expenditure and working capital purposes.
Masstop Asia Pacific and United Win (HK) Technology, subsidiaries of Wintek Corp, successfully obtained a $200 million three-year revolver last Friday (August 25) through six mandated lead arrangers and bookrunners.
The deal, which was upsized from $150 million, is priced at 130bp to 150bp over Libor or TAIFX3 and is guaranteed by the parent.
Syndication saw bookrunners Bank of Taiwan lend $26 million while Taishin International Bank committed $17 million. Chinatrust Commercial Bank, E.Sun Commercial Bank, First Commercial Bank, Taiwan Cooperative Bank and participant Chang Hwa Commercial Bank contributed $16 million each. Export-Import Bank of the Republic of China, Hua Nan Commercial Bank and Taipei Fubon Commercial Bank gave $11 million each while Land Bank of Taiwan and Mega International Commercial Bank pledged $7 million each. Cathay United Bank, China Development Industrial Bank, Shanghai Commerical & Savings Bank, Ta Chong Bank, Taichung Commercial Bank and Yuanta Commercial Bank rounded up the syndicate with $5 million each.
Proceeds are for refinancing and working capital purposes.
Powertec Energy Corp’s NT$9 billion financing was signed on Monday (August 29) through bookrunners First Commercial Bank, Mega International Commercial Bank and Taishin International Bank.
The seven-year financing comprises a NT$2.25 billion tranche and a NT$6.75 billion portion which are priced at 115bp over the secondary CP rate with a commitment fee of 10bp.
Final allocations saw Mega International Commercial Bank join in with NT$2 billion while First Commercial Bank and Taishin International Bank gave NT$1.5 billion each. Participants Hua Nan Commercial Bank took NT$700 million while Chang Hwa Commercial Bank contributed NT$600 million. Agricultural Bank of Taiwan, Bank of Taiwan, Far Eastern International Bank and Yuanta Commercial Bank committed NT$500 million each. Shanghai Commercial & Savings Bank came in with NT$400 million while Jih Sun International Bank ended up with NT$300 million.
Proceeds are to finance the construction of a new factory and support the purchase of machinery.
Shinkong Synthetic Fiber has signed a NT$5 billion dual-tranche financing through bookrunners Bank of Taiwan, First Commercial Bank and Mega International Commercial Bank.
The debt package consists of a NT$2 billion term loan and a NT$2.95 billion revolving-credit facility, which are priced at 59bp over the 90-day secondary CP rate with a minimum after-tax interest rate of 1.5%.
Final allocations saw the leads contribute NT$800 million each while mandated lead arrangers Taiwan Cooperative Bank and Yuanta Commercial Bank committed NT$700 million each. Lead managers Cathay United Bank, Jih Sun International Bank and Taipei Fubon Commercial Bank gave NT$260 million while managers Ta Chong Bank lent NT$160 million. Bank of Kaohsiung pledged NT$130 million and Chinatrust Commercial Bank held NT$80 million.
Proceeds are to refinance an existing facility signed in 2006 and for working capital purposes.
Vibo Telecom has sealed a NT$5.1 billion multi-tranche facility through bookrunners Chinatrust Commercial Bank, DBS, EnTie Commercial Bank, Jih Sun International Bank and Ta Chong Bank.
The five-year financing comprises two term loans of NT$1.4 billion and NT$2.7 billion each and a NT$959 million revolving-credit facility with a commitment fee of 15bp.
Bank of Taiwan, Cathay United Bank, Far Glory Life Insurance, Hua Nan Commercial Bank, Hwatai Bank, Industrial Bank of Taiwan, Land Bank of Taiwan, Shanghai Commercial & Savings Bank, Taichung Commercial Bank, Taiwan Cooperative Bank and Union Bank of Taiwan joined in the syndication as managers.
Proceeds are for refinancing, capital expenditure and working capital purposes.
