China
China SCE Property Holdings has signed a HK$500 million four-year credit facility through joint mandated lead arrangers HSBC, ICBC and Luso International on a club basis.
Proceeds are for general corporate purposes.
Tangshan Iron and Steel has secured a $800 million two-year term loan through sole bookrunner and mandated lead arranger Deutsche Bank.
Syndication saw ABN Amro, BNP Paribas, Rabobank, DBS, HSBC, ING, Natixis, Societe Generale, Standard Chartered and United Overseas Bank join in as mandated lead arrangers.
Proceeds are for steel pre-payment.
Zhongyue Industrial Material has obtained a HK$400 million two-year credit facility on a club basis through mandated lead arrangers HSBC and ICBC.
Final allocations saw the arrangers provide HK$200 million apiece.
Proceeds are for general corporate purposes.
Hong Kong
Henderson Land Credit (2014) has secured a HK$13.8 billion financing through bookrunners and mandated lead arrangers ANZ, Bank of China, Bank of Tokyo-Mitsubishi UFJ, Credit Agricole, HSBC, Mizuho, RBS and SMBC.
The facility is split into a HK$6.9 billion four-year term loan and a HK$6.9 billion five-year revolver.
Final allocations saw Bank of China, Bank of Tokyo-Mitsubishi UFJ, HSBC and Mizuho take HK$1.2 billion each while ANZ, Credit Agricole, RBS and SMBC pledged HK$1 billion apiece. Bank of America Merrill Lynch, China Construction Bank, DBS, Hang Seng Bank, ING, OCBC, Shanghai Pudong Development Bank, Standard Chartered and UOB came in with HK$500 million apiece as mandated leads while managers BNP Paribas and Bank of East Asia joined in with HK$250 million each.
Proceeds are to refinance an existing HK$5 billion facility signed in June 2011.
Hongkong Electric and HK Electric Investments have inked a $4.8 billion-equivalent three-year financing on a club basis through mandated lead arrangers ANZ, BNP Paribas, Bank of China, Bank of Nova Scotia, Bank of Tokyo-Mitsubishi UFJ, Barclays, CIBC, China Construction Bank, Citi, Credit Agricole, DBS, Deutsche Bank, Goldman Sachs, HSBC, Mizuho, OCBC, RBS, SMBC, UOB and Westpac.
The facility is split into a HK$5.1 billion tranche, a $467 million portion, a HK$16.5 billion tranche and a $1.5 billion portion, respectively.
Proceeds are to support Power Asset’s Holdings’ spinoff of Hongkong Electric.
RKP Overseas Finance 2013 (A) has completed a $230 three-year term loan on a club basis through mandated lead arrangers China Citic Bank International, DBS, Hang Seng Bank, HSBC and ICBC.
Final allocations saw HSBC lend $60 million while Hang Seng Bank pledged $55 million. China Citic Bank committed $50 million while DBS provided $45 million. ICBC concluded the syndicate with $20 million.
Proceeds are to refinance the Rmb1.3bn senior notes due in February 2014 and other existing indebtedness.
India
IRB Westcoast Tollway has completed a Rs14.1 billion 18-year term loan through joint bookrunners Bajaj Consultants and IDBI Bank.
IRB Infrastructure Developers sponsored the deal.
Syndication saw Allahabad Bank, Bank of Baroda, Bank of India, Canara Bank, IDBI Bank and Union Bank of India join in at lower levels.
Proceeds are to support a road project in India.
Taiwan
Fu-Tai Engineering has secured a NT$3.38 billion multi-tranche facility through joint bookrunners Chang Hwa Commercial Bank, Mega International Commercial Bank, Taipei Fubon Commercial Bank and Taiwan Cooperative Bank.
The facility contains a NT$364 million guarantee facility, a NT$816 million guarantee tranche, a NT$216 million portion, a NT$2.2 billion L/C facility and a NT$2.2 billion term loan. Tranches 2 and 3 cannot exceed a maximum drawdown of NT$816 million, while tranches 4 and 5 cannot exceed a combined NT$2.2 billion. The facility cannot exceed a total drawdown of NT$3.38billion.
Syndication saw Agricultural Bank of Taiwan, Bank SinoPac, Bank of Taiwan, Far Eastern International Bank, First Commercial Bank, Hua Nan Commercial Bank, Industrial Bank of Taiwan and Yuanta Commercial Bank join in at lower tiers.
Proceeds are for general corporate purposes and working capital purposes.
Ruentex Development has concluded a NT$1 billion three-year financing through sole bookrunner Ta Chong Bank.
The fundraising is divided into a NT$1 billion commercial paper facility and a NT$200 million term loan but the maximum total drawdown cannot exceed NT$1 billion.
Syndication saw China Bills Finance, Dah Chung Bills Finance and Grand Bills Finance join in at lower levels.
Proceeds are for working capital purposes.
Suyin Corp has closed a NT$1.2 billion three-year revolving credit through joint bookrunners CTBC Bank, Taishin International Bank, Taipei Fubon Commercial Bank and Taiwan Cooperative Bank.
Final allocations saw the leads take NT$200 million each, while Chang Hwa Commercial Bank, First Commercial Bank, Shanghai Commercial & Savings Bank and Ta Chong Bank participated with NT$100 million apiece.
Proceeds are to refinance an existing loan facility signed in Aug 2011 and for working capital purposes.
