Australia
Foxtel Management has secured a A$1.2 billion revolver on a club basis through mandated lead arrangers ANZ, Commonwealth Bank of Australia, NAB and Westpac.
The transaction is split into three-year, four-year and five-year tranches, with A$400 million for each portion.
Final allocations see the lenders pledge A$300 million each.
Proceeds are to support the acquisition of Austar United Communication from Liberty Global, refinancing existing indebtedness and general corporate purposes.
China
Yingde Gases Group has signed a $150 million financing through bookrunners Deutsche Bank and First Gulf Bank.
The three-year term loan offers a margin of 355bp over Libor.
Syndication saw Bank of East Asia and Korea Development Bank join in as mandated lead arrangers while Banco De Oro Unibank and Siemens Bank came in as lead arrangers. Cathay United Bank, EnTie Commercial Bank, Far Eastern International Bank, Taishin International Bank and Woori Global Markets Asia participated as arrangers while Bank of Taiwan and China Development Industrial Bank ended up as senior managers.
Proceeds are for capital expenditure, working capital and general corporate purposes.
India
Bharat Forge sealed a $40 million five-year, six-month term loan on a club basis through mandated lead arrangers ANZ, Credit Agricole, Royal Bank of Scotland and State Bank of India.
Proceeds are for refinancing purposes.
ONGC Mangalore Petrochemicals has recently signed a Rs25.1 billion 11-year, six-month term loan through sole bookrunner and mandated lead arranger SBI Capital Markets.
Sponsored by Oil & Natural Gas Corp and Manglaore Refinery and Petrochemicals, the facility will be repaid in 36 quarterly installments.
Syndication saw Bank of Baroda, Bank of India, Bank of Maharashtra, Canara Bank, Corporation Bank, India Bank, Oriental Bank of Commerce, Punjab & Sind bank, South Indian Bank, State Bank of India, State Bank of Mysore and State Bank of Travancore come in as participants.
Proceeds are for refinancing and project financing purposes.
Indonesia
Bayan Resources has signed a $750 million facility through mandated lead arrangers ANZ, Bank Mandiri, HSBC, J.P. Morgan, Natixis and Standard Chartered.
The debt package is split into term loan, working capital and capital expenditure tranches.
The facility embeds an option to upsize the loan amount to $950 million within 15 months.
Bookrunners and mandated lead arrangers DBS, HSBC and Standard Chartered have recently closed the syndication of a $150 million fundraising for Chandra Asri Petrochemical. The initial loan agreement was signed in November last year.
The seven-year term loan features a spread of 490bp over Libor.
Syndication saw Bank Danamon Indonesia join in as a mandated lead arranger while Indonesia Eximbank came in as a lead arranger.
Proceeds are for capital expenditure purposes.
Singapore
China Aviation Oil (Singapore) Corp secured a $125 million 364-day revolving credit last Friday (April 20) through bookrunning mandated lead arrangers A BILLION Amro, ANZ, Bank of Communications, Credit Agricole and United Overseas Bank.
Other banks are looking to join the facility through an accordion option embedded in the facility. Proceeds are for working capital purposes.
Ecom Agrodinustrial Asia and ECOM Agroindustrial Corp successfully closed a $368 million fundraising through bookrunneres DBS and Standard Chartered. The deal was well-oversubscribed to $450 million and upsized from $200 million.
The deal is priced at 210bp over Libor and guaranteed by ECOM Agroindustrial Corp, Ecom Agroindustrial Asia, Agroindustrias Unidas de Mexico, ECOM Atlantic and Dutch Cocoa.
Final allocations saw the two leads commit $40 million each while ANZ, Bank of China, Rabobank International, ING, OCBC and Societe Generale lend $28 million each. Lead arrangers Commonwealth Bank of Australia gave $20 million while Bank of Tokyo-Mitsubishi UFJ, National Australia Bank and United Overseas Bank joined in with $16 million each. Arrangers KBC Bank held $12 million while A BILLION Amro, Bank of East Asia, Bank of Taiwan and Emirates NBD pledged $8 million. Bank Mandiri and Mega International Commercial Bank rounded up with $4 million respectively.
Proceeds are to refinance the borrower’s $276 million one-year facility signed in April 2011, for general corporate and working capital purposes.
Taiwan
King Yuan Electronics has sealed a NT$3.8 billion five-year dual-tranche term loan through a consortium of eight bookrunners and mandated lead arrangers Bank SinoPac, E.Sun Commercial Bank, First Commercial Bank, Hua Nan Commercial Bank, Land Bank of Taiwan, Mega International Commercial Bank, Taipei Fubon Commercial Bank and Taiwan Cooperative Bank.
The facility is split into two identical tranches with NT$1.9 billion each, which are priced at 65bp and 70bp over the secondary CP rate, respectively.
Allocations saw the leads take NT$450 million each while co-arranger Chang Hwa Commercial Bank came in with NT$200 million.
Proceeds are to refinance a NT$13 billion five-year loan signed in January 2010 and for working capital purposes.
Nang Kuang Pharmaceutical secured a NT$1.3 billion five-year financing last week through sole bookrunner and mandated lead arranger First Commercial Bank.
The upsized transaction is split into a NT$660 million term loan and a NT$660 million revolver. The term loan will be repaid in 7 semi-annual installments with a two-year grace period.
Final allocations saw the lead provide NT$230 million while managers Bank of Taiwan, E.Sun Commercial Bank, Land Bank of Taiwan, Mega International Commercial Bank and Yuanta Commercial Bank committed NT$110 million each. Chang Hwa Commercial Bank and Hua Nan Commercial Bank brought in NT$100 million and NT$90 million respectively while Bank SinoPac, Cosmos Bank Taiwan, Taishin International Bank, Taiwan Cooperative Bank and Taiwan Shin Kong Commercial Bank joined in with NT$70 million each.
Proceeds are to refinance a NT$850 million seven-year facility signed in March 2007 and for working capital purposes.
Radium Life Tech successfully completed a NT$25 billion four-year multi-tranche financing on Monday (April 23) through bookrunners and mandated lead arrangers Bank of Taiwan, Mega International Commercial Bank and Taiwan Cooperative Bank.
The debt package comprises a NT$10.5 billion term loan, a NT$13.5 billion tranche and a NT$1 billion portion, which offers a margin of 175bp over Chunghwa one-year postal office rate. The facility was oversubscribed by 2.23 times to NT$55.8 billion.
Syndication saw 21 banks join in at lower tiers.
Proceeds are for the development of a residential project in New Taipei City.