John Fairfax GroupÆs A$668 million bridge loan has been completed on a club basis. The facility has a tenor of six months.
Mandated arrangers ANZ Bank and Commonwealth Bank of Australia each provided A$334 million.
China
China National Petroleum CorpÆs $1 billion 10 year term loan has been signed and allocations have been finalised. The funds will be used for acquisition purposes.
A group of 28 banks are participating in the facility. Mandated arrangers Calyon, Commonwealth Bank of Australia, ING Bank and Standard Chartered Bank committed $74 million apiece, Bank of China (Hong Kong), Bank of Communications (Hong Kong) and Industrial and Commercial Bank of China (Asia) provided $44 million each while 16 other mandated arrangers contributed $30 million apiece; they are ANZ Investment Bank, Bank of Tokyo-Mitsubishi UFJ, BayernLB (Hong Kong), CCB International Finance, Citic Ka Wah Bank, Deutsche Bank, DZ Bank (Singapore), Fortis Bank, KBC Bank, Mizuho Corporate Bank, Natexis Banques Populaires (Singapore), Rabobank International, Royal Bank of Scotland, Scotiabank (Hong Kong), Sumitomo Mitsui Banking Corp and WestLB.
Lead arrangers Bank of East Asia, China Citic Bank, Dexia, Intesa Sanpaolo and MCC (Capitalia Gruppo Bancario) joined with tickets of $21 million each.
Hong Kong
Cheung Kong HoldingsÆ HK$6 billion fundraising has closed on a club basis. A total of 12 banks are arranging the facility, they are Bank of China, Bank of Tokyo-Mitsubishi UFJ, BayernLB, Calyon, China Construction Bank, CIBC, Citigroup, Fortis, Hang Seng Bank, HSBC, Mizuho Corporate Bank and Standard Chartered Bank.
Proceeds are for general corporate purposes and signing will take place shortly.
India
Hindalco Industries has mandated ABN Amro, Banc of America (Asia) and UBS to lead arrange a $5.2 billion dual tranche facility. The loan comprises $2.8 billion and $2.4 billion 18 month tranches and proceeds will be used to fund the acquisition of CanadaÆs Novelis.
Union Bank of IndiaÆs $100 million yen-equivalent three year facility has been launched into general syndication. Banc of America Securities Asia, Citigroup, DBS Bank, Intesa Sanpaolo, Natexis Banques Populaires and Standard Chartered are the mandated arrangers.
The margin is 28bp over Libor and banks have been invited to join on three tiers. Lead arrangers joining with $12 million or above receive 36bp for an all-in of 40bp over Libor. Co-arrangers lending $6 million to $11 million get 30bp for an all-in of 38bp while lead managers joining with $2 million to $6 million get 27bp for an all-in of 37bp.
Indonesia
PT Central ProteinaprimaÆs $200 million five year financing has been signed and allocations have been finalised via bookrunners Barclays Bank, Chinatrust Commercial Bank and Sumitomo Mitsui Banking Corp.
Mandated arrangers Barclays Bank and Chinatrust Commercial Bank provided $17.2 million each while Sumitomo Mitsui Banking Corp lent $24 million. Commonwealth Bank of Australia, China Development Industrial Bank and DZ Bank held $17.2 million apiece while Lippo Bank came in with $30 million. Bank Permata and Rabobank each pledged $20 million while arrangers Chailease Bank and Resona Bank ended up with $10 million apiece.
The facility has a door-to-door tenor of five years with an average life of 3.1 years and carries a margin of 350bp over Libor.
Japan
Komatsu has signed a $300 million revolver via mandated arrangers Citibank and Sumitomo Mitsui Banking Corp. Bank of America, Commerzbank, HSBC, ING Bank, JP Morgan Chase Bank, Lloyds TSB Bank, Mizuho Corporate Bank, Norinchukin Bank and Standard Chartered joined as lenders in syndication.
The 18 month loan will be used to refinance an existing facility that was signed in February 2006.
Korea
Mandated arranger Korea Exchange Bank has launched Fila KoreaÆs $300 million fundraising into general syndication.
The facility is split into four tranches û a $100 million one year term loan with a margin of 225bp over Libor; a $100 million 18 month portion with a margin of 250bp; a $50 million five year credit carrying a margin of 275bp; and a $50 million revolver with a margin of 300bp.
Banks have been invited to participate on three tiers. Banks committing $30 million or above earn a front-end fee of 100bp, contributions of $20 million and above receive 75bp and commitments below $20 million get 50bp.
Banks are expected to revert by March 9. Proceeds will be used to acquire Fila Luxemburg held by Sports Brand International.
Shipping firm Korea LineÆs $166 million 11 year term loan was signed on February 15. A total of nine banks are participating in the transaction.
Shinhan Bank contributed $23.35 million while BNP Paribas committed $19.8 million. ING Bank, Citibank and Sumitomo Mitsui Banking Corp lent $19.5 million apiece. Lenders NordLB pledged $35 million while Credit Industriel et Commercial took $15 million. Woori Bank held $10 million and National Federation of Fisheries Cooperatives ended up with $4.7 million.
The deal features a margin of 44bp over Libor and proceeds will be used to finance two crude oil tankers.
New Zealand
Flavoured Beverages, ILNZ Group Holdings and Independent Liquor have successfully raised NZ$730 million from the market via a multi-tranche term loan. The facility is split into NZ$480 million, NZ$150 million and NZ$100 million six year tranches. ANZ Investment Bank and Barclays Capital are the mandated arrangers with commitments of NZ$365 million apiece. Proceeds are to support the Pacific Equity Partners and CCMP Capital Asia Group-led leveraged buyout of Independent Distillers.
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