Australia
Sole bookrunner and mandated lead arranger National Australia Bank has successfully completed a A$550 million dual-tranche facility for Australand Property Group.
The loan package consists of a A$248 million three-year tranche and a A$302 million five-year portion.
Final allocation saw the lead commit A$150 million, while participant HSBC lent A$100 million. Bank of Nova Scotia, Credit Agricole, Deutsche Bank and OCBC provided A$75 million each.
Proceeds are for capital expenditure purposes.
OZ Minerals' $200 million dual-tranche revolver was completed last week through sole bookrunner and mandated lead arranger National Australia Bank.
The facility is split into a $20 million one-year tranche and a $180 million three-year portion.
Syndication saw
Proceeds are for working capital purposes.
China
Sole bookrunner Standard Chartered Bank has concluded an $82 million term loan for Liuzhou Iron & Steel.
With guarantee from Bank of Communications (Liuzhou), the three-year term loan offers a margin of 420bp over Libor.
Bank of Communications (Liuzhou) and Korea Development Bank (Shanghai) came in as joint mandated lead arrangers, while Cathay United Bank (Shanghai), Hua Nan Commercial Bank (Shenzhen) and Land Bank of Taiwan (Shanghai) joined in as senior managers. Public Bank (Hong Kong) and Shanghai Commercial Bank (Shenzhen) participated as managers.
Proceeds are for working capital purposes.
Shanghai Zijiang Enterprise Group’s six subsidiaries have obtained a $100 million three-year loan via a consortium of eight international lenders.
Shanghai Zijiang Enterprise Group is guaranteeing the facility which is priced at 440bp over Libor.
Proceeds are for working capital, refinancing and capital expenditure purposes.
India
Andhra Bank’s $165 million two-year term loan has been successfully completed through joint bookrunners
Syndication saw Doha Bank and Arab Banking Corp come in as mandated lead arrangers, while Mega International Commercial Bank came in as a lead arranger.
Proceeds are for on-lending purposes.
GVRMP Belgaum Khanapur Tollway’s Rs2.96 billion 14.5-year term loan was successfully signed through sole bookrunner SBI Capital Markets.
The facility will be repaid in 46 quarterly installments after a six-month grace period.
Syndication saw participants State Bank of India pledge Rs1.0 billion and Bank of India commit Rs670 million. Indian Overseas Bank, State Bank of Mysore and State Bank of Travancore lent Rs430 million each.
Proceeds are for project financing purposes.
Indian Overseas Bank’s $75 million one-year loan was signed in early September via sole bookrunner Sumitomo Mitsui Banking Corp.
Syndication saw the sole lead contribute $50 million, while Doha Bank came in with $25 million.
Proceeds are for on-lending purposes.
Indian Railway Finance Corp has secured a $200 million five-year loan via a consortium of seven mandated lead arrangers and bookrunners.
The deal is priced at 125bp over Libor.
Proceeds are to support the purchase of rolling stock assets and other developmental needs.
Oriental Nagpur Betul Highway’s Rs27.9 billion 15-year term loan was signed on September 12 through sole bookrunner Axis Bank.
Sponsored by Oriental Structural Engineers, the facility will be repaid in 43 quarterly installments after a 4.5-year grace period.
Syndication saw Bank of India join as a mandated lead arranger, while Indian Overseas Bank came in as an arranger. Indian Infrastructure Finance Co (IIFCL), Oriental Bank of Commerce, State Bank of Hyderabad, State Bank of Mysore and
Proceeds are to support a highway construction project.
Srinagar Banihal Expressway successfully sealed a Rs14.4 billion dual-tranche term loan on September 16 via sole bookrunner and mandated lead ICICI Bank.
The facility splits into a Rs12.8 billion 15-year term loan and a Rs1.6 billion 17-year term loan, which will be repaid in 22 and 24 semi-annual installments respectively.
Syndication saw Andhra Bank, Bank of India, Federal Bank, Indian Overseas Bank, Jammu & Kashmir Bank, Oriental Bank of Commerce and State Bank of Patiala join in as participants.
Proceeds are to support a highway construction project.
A $120 million seven-year term loan for Triumphant Victory Holding has been sealed through sole bookrunner and mandated lead arranger Axis Bank.
Guaranteed by Alok Industries, the facility is priced at 532bp over Libor.
Final allocations saw the lead pledge $80 million, while participant Canara Bank lent $25 million. State Bank of Mauritius and AfrAsia Bank provided $10 million and $5 million respectively.
Proceeds are to refinance existing indebtedness.
Indonesia
A $320 million two-year seven-month revolver for P.T. Smelting was completed through joint bookrunners and mandated lead arrangers Bank of Tokyo-Mitsubishi UFJ and Mizuho Corporate Bank. Syndication saw Mitsubishi UFJ Trust & Banking Corp come in as a participant.
Proceeds are to refinance an existing project financing facility.
Singapore
Sinochem International (Overseas)’s $190 million three-year bullet term loan was successfully closed on September 16 via mandated lead arrangers and bookrunners
Syndication saw the bookrunners lend $28 million each, while Bank of Tokyo-Mitsubishi UFJ came in as a mandated lead arranger with $27 million. Lead arrangers Bank of East Asia, China Construction Corp and Rabobank joined in with $18 million apiece, and arrangers Oversea-Chinese Banking Corp and Qatar National Bank committed $10 million each. Bank Mandiri contributed $5 million.
The deal is guaranteed by Sinochem International Corp. Proceeds are to refinance an existing $190 million term loan signed in 2008 and for working capital purposes.
Taiwan
Depo Auto Parts Industrial’s NT$4.8 billion five-year revolver has been sealed through joint bookrunners Bank of Taiwan, Mega International Commercial Bank, Mizuho Corporate Bank and Taiwan Cooperative Bank. The deal was oversubscribed and upsized from NT$4.0 billion.
The facility is priced at 50bp over the 90-day secondary CP rate with a minimum after-tax interest rate floor of 1.4%.
Final allocations saw two of the bookrunners, Mega International Commercial Bank and Mizuho Corporate Bank, commit NT$800 million each. Bank of Taiwan and Taiwan Cooperative Bank, as well as joint mandated leads Chang Hwa Commercial Bank and Hua Nan Commercial Bank lent NT$600 million apiece. China Development Industrial Bank and First Commercial Bank came in as managers with NT$400 million each.
Proceeds are for refinancing and working capital purposes.
Queena Plaza Hotel’s NT$1.64 billion 10-year multi-tranche facility was signed on September 14 through sole bookrunner Taiwan Cooperative Bank.
The loan package consists of NT$830 million and NT$560 million term loans and a NT$250 million revolver.
Syndication saw Agricultural Bank of Taiwan and Land Bank of Taiwan join in as lead arrangers, while 11 banks came in as participants.
Proceeds are to refinance existing debt and for working capital purposes.
Uni-President China Holdings successfully obtained a $250 million financing on September 20 via bookrunners and mandated lead arrangers
The five-year revolver offers a margin of 69.5bp over one-, two-, three- and six-month Libor.
Syndication saw the leads take $40 million each, except for Taipei Fubon Commercial Bank, which held $30 million. Ta Chong Bank came in as a lead manager with $20 million.
The deal was oversubscribed and upsized from $200 million. Proceeds are for working capital purposes.
Winbond Electronics signed a NT$7.0 billion financing on September 19 via a consortium of eight mandated lead arrangers and bookrunners.
The deal, which was upsized from NT$5.0 billion, will be priced between 70bp and 95bp over the primary CP rate depending on the net margin ratio of the borrower.
Syndication saw Bank of Taiwan, Chinatrust Commercial Bank, First Commercial Bank, Taiwan Cooperative Bank, and Taishin International Bank commit NT$600 million each, while DBS Bank, E Sun Commercial Bank and Taipei Fubon Commercial Bank lent NT$500 million apiece. Mandated lead arranger Bank Sinopac and participants Chang Hwa Commercial Bank pledged NT$350 million each, while Far Eastern International Bank, Shanghai Commercial & Savings Bank and Yuanta Commercial Bank came in with NT$300 million apiece. Participants EnTie Commercial Bank and Taiwan Shin Kong Commercial Bank took NT$250 million each, and BankTaiwan Life Insurance and Ta Chong Bank rounded out with the syndicate with $200 million respectively.
Proceeds are for capital expenditure purposes.
