A Japanese bank-strong contingent of mandated coordinating arrangers, BA Asia Limited, the Industrial Bank of Japan Limited (Mizuho Financial Group), Raiffeisen Zentralbank Osterreich AG (RZB-Austria) Singapore branch, Sumitomo Mitsui Banking Corporation, Tokyo-Mitsubishi International (HK) Limited, have completed a Y25 billion ($2.07 billion) term loan facility for the KDB.
The facility has a three year tenor and an interest margin of 50 basis points over LIBOR. The proceeds of the loan will go towards KDB's general working capital requirements.
The coordinating arrangers were joined by Dai-ichi Mutual Life Insurance Company and DBS Bank as arrangers.
The coordinating arrangers each fully underwrote Y3.15 billion, with the exceptions of BA Asia and Raiffeisen Zentralbank, which contributed Y2.125 billion each.
Arrangers Dai-ichi Mutual Life and DBS Bank underwrote Y3 billion and Y 2 billion each.
Senior mangers Bank of Taiwan, LRP Landesbank Rheinland-Pfalz and Taiwan Cooperative Bank allocated Y1 billion to KDB.
Finally, managers, Chugoku Bank, and United Taiwan Bank S.A., Brussels underwrote Y700 million and Y600 million respectively, with The Anglo Irish Bank Corporation plc and the International Commercial Bank of China, underwriting Y500 million each.
The signing of the deal is scheduled for 30 May.