A A$195 million dual-tranche facility for Beston Accommodation Parks Trust has been signed as a club via Commonwealth Bank of Australia and National Australia Bank.
The two year fundraising is split into a A$150 million loan and a A$45 million portion. Commonwealth Bank of Australia committed A$97.2 million while National Australia Bank provided A$97.8 million.
The proceeds are for capital expenditure and general corporate purposes.
Stella Group HoldingsÆ A$1.1 billion six year financing has been funded via mandated arranger UBS. General syndication is expected to be launched within the next two weeks.
Hong Kong
New World China Land FinanceÆs HK$2 billion five year credit has been launched into general syndication via mandated arrangers HSBC and ICBC Asia.
Banks have been invited to join on three tiers. Arrangers providing HK$250 million or more receive 30bp in management fees for an all-in of 65.1bp over Hibor. Co-arrangers lending between HK$175 million and HK$245 million get 20bp in fees for an all-in of 62.7bp while senior managers holding HK$100 million to HK$170 million get 10bp for an all-in of 60.4bp.
The facility features a spread of 58bp over Hibor and an average life of 4.25 years. New World China Land is the guarantor.
Banks are expected to revert by the end of July.
Syndication of Noble GroupÆs $1 billion three year revolving credit facility has closed oversubscribed via mandated arrangers and bookrunners ABN AMRO, ANZ Investment Bank, Fortis Bank, ING Bank, Royal Bank of Scotland, Societe Generale and Standard Chartered.
Allocations have not yet been finalised and the amount is likely to be increased at the borrowerÆs discretion. The signing ceremony is slated to be held in the second week of July.
United Asia FinanceÆs HK$1.5 billion three year term loan was signed on July 3 via mandated arrangers Bank of Communications, Bank of East Asia, First Commercial Bank, Fubon Bank, Mizuho Corporate Bank, Standard Chartered Bank and Taishin International Bank, with Standard Chartered running the books.
India
Mandated arranger Barclays Capital has launched a $75 million five year fundraising for Alok Industries into general syndication. Bank of India, State Bank of India and UTI Bank have joined at the top as mandated arrangers.
The deal features a $25 million greenshoe and pays a margin of 220bp over yen Libor.
Banks have been invited on four levels. Mandated arrangers contributing $15 million or more receive a 110bp participation fee for a top-level all-in of 246bp over yen Libor while arrangers committing between $7.5 million and $14 million get 100bp for an all-in of 240bp. Co-arrangers taking $5 million to $7 million receive 90bp for an all-in of 238bp and lead managers lending $3 million to $4 million get 80bp for an all-in of 236bp.
Roadshows will be held in Taipei and Singapore and commitments are due by the end of July.
Discovery DrillingÆs $130 million six year financing has been inked via a syndicate of six banks.
Mandated arrangers ICICI Bank provided $55 million while Intesa Sanpaolo contributed $25 million. KBC Bank and United Overseas Bank took $20 million each while lead managers Bank Negara Indonesia and ICBC Asia ended up with $5 million apiece.
Sabah Forest IndustriesÆ $200 million LBO has been closed and allocations have been finalised via a syndicate of 10 banks.
Mandated arrangers ABN AMRO, JP Morgan, Bank of Baroda, Bank of India, NordLB and State Bank of India committed $19.4 million apiece while Export-Import Bank of India joined with a hold of $28.5 million.
Arrangers Industrial Bank and Shinhan Bank took $20 million each while VTB Bank held $15 million.
Proceeds are to fund Ballarpur IndustriesÆ leveraged buyout of Sabah Forest Industries.
Indonesia
PT Tunas Baru LampungÆs $70 million dual-tranche term loan was signed last week (June 29) via mandated arranger PT Bank Mandiri and Rabobank. Rabobank acted as the bookrunner.
The facility is split into a $55 million five year loan and a $15 million three year portion paying a margin of 300bp and 237.5bp over Libor respectively. The commitment fee is 50bp.
Coming in as a sole arranger was PT Bank Negara Indonesia. Natixis, Oversea-Chinese Banking Corp, PT Bank Lippo and PT Bank Mizuho Indonesia joined in as co-arrangers.
Proceeds are to refinance existing debt and for working capital purposes.
Laos
Syndication of Phu Bia MiningÆs $207 million multi-tranche facility has been closed via sole mandated arranger ANZ Investment Bank.
The eight year fundraising comprises a $160 million term loan, a $25 million revolver and two $20 million revolving credit facilities.
ANZ Investment Bank committed $107 million while arrangers Standard Chartered provided $35 million and DZ Bank held $25 million. Co-arranger National Bank of Australia contributed $30 million and manager Banque pour le Commerce Exterieur Lao ended up with $10 million.
The funds are to support a $317 million project that entails the development of the Phu Kham deposit located approximately 100km north of Vientiane.
Malaysia
A S$21.5 million three year financing for Freshlane has been signed via a consortium of three banks.
Mandated lead arrangers Sumitomo Mitsui Banking Corp and CIMB Bank each took S$8.25 million while lender RHB Bank held S$5 million.
The funds are to finance property acquisitions.
Singapore
A S$165.7 million three year term loan for SEB Robinson 77 has been closed via sole mandated arranger DBS Bank.
Final allocations saw the mandated arranger commit S$65.7 million. Arrangers Great Eastern Life Assurance Company and NordLB (Singapore Branch) contributed S$20 million apiece. Bank of China (Singapore Branch), Bank of Nova Scotia Asia, Credit Industriel et Commercial (Singapore Branch) and DZ Bank (Singapore Branch) provided S$15 million each.
Proceeds are to finance the S$525 million acquisition of the SIA Building.
South Korea
SK CorpÆs $300 million dual-tranche financing was signed on June 27 via mandated arrangers Banc of America Securities, Calyon, ING Bank, Kookmin Bank, Standard Chartered First Bank Korea, Bank of Tokyo-Mitsubishi UFJ and Mizuho Corporate Bank. The original mandated arrangers Banc of America Securities, Calyon, ING Bank and Standard Chartered First Bank Korea were the bookrunners.
The loan is divided into a $200 million three year tranche and a five year $100 million five year facility, with margins of 22bp and 34bp over Libor respectively.
Allocations saw the original mandated leads contribute $43 million each along with Kookmin Bank who also pledged $43 million. Bank of Tokyo-Mitsubishi UFJ and Mizuho Corporate Bank provided $30 million and $20 million respectively. Arranger Bank of China (Seoul Branch) held $20 million with senior manager ANZ Investment Bank taking $15 million.
Proceeds are for general corporate purposes.
Taiwan
A NT$28 billion multi-tranche fundraising for China Network System (CNS) was signed on June 29 via a consortium of 11 mandated arrangers. Citi was the sole bookrunner.
The financing is split into a NT$16.75 billion seven year term loan with an average life of 4.72 years and a grace period of nine months; a NT$9.5 billion eight and a half year portion consisting of an average life of 7.37 years with a grace period of 33 months; and a NT$1.75 billion eight and a half year revolving credit.
Final allocations saw the mandated arrangers Citi, Calyon, Cathay United Bank, DBS Bank, Hua Nan Commercial bank, Mega International Commercial Bank, Taipei Fubon Bank and Taishin bank contribute NT$1.8 billion apiece. BNP Paribas, Mizuho and Oversea-Chinese Banking Corp provided NT$1.6 billion each.
Coming in as co-arrangers were E.Sun Commercial Bank, ABN (Rabo Bank), Shanghai Commercial & Savings Bank and Bank of Tokyo-Mitsubishi UFJ holding NT$1.15 billion apiece. Far Eastern International Bank, Fortis Bank, Hsinchu International Bank and Taiwan Shin Kong Commercial Bank committed NT$1.05 billion each.
Proceeds are for working capital purposes.
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