Loan week, April 1-8

Australia

Collgar Wind Farm's A$478 million five-year multi-tranche facility has been signed via a consortium of six banks.

The financing is split into a A$254 million five-year revolving credit, a A$208 million 19-year portion and a A$17 million guaranteed bond.

Mandated lead arranger Eksport Kredit Fonden pledged A$208 million, while ANZ, Commonwealth Bank of Australia, National Australia Bank, WestLB and Westpac committed A$54 million apiece.

Proceeds are for refinancing purposes.

Hong Kong

A HK$3.8 billion five-year fundraising for Hutchison International Finance has been sealed as a club deal via coordinating arrangers ANZ, Banco Bilbao Vizcaya Argentaria, Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Canadian Imperial Bank of Commerce, Credit Agricole, HSBC, Scotiabank, Standard Chartered Bank and Sumitomo Mitsui Banking Corp. The leads provided HK$380 million apiece.

The fundraising is guaranteed by Hutchison Whampoa and the proceeds are to refinance a HK$3.8 billion three-year facility signed in July 2008.

India

Adhunik Power and Natural Resources' Rs10.4 billion 14-year term loan has been completed via sole mandated lead arranger SBI Capital Markets. 

The term loan has a one-year grace period and will be repaid through 40 quarterly repayments.

Final allocations saw State Bank of India take Rs2 billion, while Union Bank of India and Life Insurance Corporation of India committed Rs1 billion each. Allahabad Bank and Dena Bank pledged Rs750 million apiece and Bank of Baroda took Rs650 million. Bank of Maharashtra, State Bank of Hyderabad and United Bank of India contributed Rs500 million each, while Bank of India, PTC India Financial Services, Punjab National Bank and State Bank of Travancore held Rs400 million apiece.  Andhra Bank, Punjab & Sind Bank and State Bank of Bikaner & Jaipur joined in with Rs300 million each and State Bank of Patiala ended up with Rs250 million.

Proceeds are to support a coal-based thermal power plant project in India.

A Rs3.2 billion 10-year fundraising for Bombay Rayon Fashions has been completed via sole mandated lead arranger Axis Bank.

Syndication saw Dena Bank take Rs1 billion, while State Bank of Mysore committed Rs750 million. State Bank of Patiala lent Rs400 million, and Karnataka Bank and State Bank of Hyderabad pledged Rs300 million each. Axis Bank contributed Rs250 million and State Bank of Bikaner & Jaipur came in with Rs210 million.

Proceeds are to support the expansion of the weaving and processing facilities at Islampur and Tarapur, Maharashtra, India.

A Rs23.9 billion 13.25-year term loan for Ind Barath Energy UTKAL was sealed on March 29 via sole bookrunner Axis Bank. 

Joining as participants were Andhra Bank, Bank of Baroda, Bank of India, Corporation Bank, Jammu & Kashmir Bank, Karnataka Bank, Karur Vysya Bank, L&T Infrastructure Finance Company, Power Finance Corporation, Punjab National Bank, UCO Bank, Union Bank of India and United Bank of India.

Proceeds are to support a coal-based thermal power plant project in India.

ITD-ITD Cem Joint Venture secured a Rs6.1 billion four-year debt package on March 31 via mandated lead arranger IDBI Bank.

The debt package consists of a Rs3.2 billion guarantee facility, a Rs1.5 billion letter of credit and a Rs1.4 billion credit facility. Bank of India and Punjab National Bank joined in as participants.

Proceeds are for project financing purposes.

Nava Bharat Energy India's Rs9.7 billion nine-year term loan was inked on March 29 via sole mandated lead arranger IDBI Bank.

The lead and Andhra Bank took Rs1.7 billion each. Punjab National Bank contributed Rs1.3 billion, while State Bank of Hyderabad and Bank of Baroda pledged Rs1.2 billion apiece. State Bank of Mysore, Bank of India and UCO Bank came in with Rs700 million each. Punjab & Sind Bank lent Rs500 million.

Proceeds are for a power project in India.

Sterling Biotech's $147 million debt has been inked via sole mandated lead arranger SBI Capital Markets.

The eight-year term loan offers a margin of 475bp over Libor and a commitment fee of 120bp.

Final allocations saw Bank of Baroda (London) lend $30 million, while Bank of India (Jersey) joined in with $25 million. Syndicate Bank (London) gave $20 million and Indian Overseas Bank (Hong Kong) lent $17.4 million. Allahabad Bank (Hong Kong) and Punjab National Bank (Hong Kong) contributed $15 million each, while Punjab National Bank (International) and UCO Bank (Hong Kong) gave $10 million apiece. UCO Bank (Singapore) ended up with $5 million.

Proceeds are to finance the construction of a new 9,000 metric tonnes per annum gelatin manufacturing facility in Gujarat, India.

An Rs8.3 billion nine-year term loan for Tower Vision India was inked on March 30 via sole bookrunner Axis Bank.

Allocations saw the lead take Rs3.3 billion, while Punjab National Bank and UCO Bank committed Rs2 billion and Rs1 billion respectively. Dena Bank and L&T Infrastructure Finance Company held Rs750 million apiece. Saraswat Co-operative Bank ended up with Rs500 million.

Proceeds are for capital expenditure purposes.

Visa Power's Rs19.6 billion 14.5-year term loan has been signed via sole mandated lead arranger SBI Capital Markets.

The term loan is sponsored by its parent company, Visa Group, and will be repaid through 40 quarterly repayments with a one-year grace period.

Syndication saw Punjab National Bank commit Rs3.9 billion, while Bank of India and UCO Bank took Rs1.9 billion apiece. Bank of Baroda, Union Bank of India and United Bank of India took Rs1.5 billion each while Andhra Bank, Bank of Maharashtra, Oriental Bank of Commerce, State Bank of Bikaner & Jaipur, State Bank of Mysore, State Bank of Patiala and State Bank of Travancore joined in with Rs950 million apiece. Central Bank of India rounded out the group with Rs900 million.

Proceeds are for project financing purposes.

Indonesia

PT Cirebon Electric Power's $595 million debt package has been completed via mandated lead arrangers Bank of Tokyo-Mitsubishi UFJ, ING Bank, Mizuho Corporate Bank and Sumitomo Mitsui Banking Corp.

The deal is divided into four 18-year term loans and proceeds are to support the development of a 660MW coal-fired power plant on a build-own-operate basis in Cirebon, Indonesia.

South Korea

Daejun Ggumnamu's W43 billion project financing has been signed via sole bookrunner Korea Development Bank.

The 20-year term loan comprises a W35.1 billion tranche, a W914 million portion and a W 7 billion facility.

Korea Build Transfer Lease Infrastructure Fund (KBTL Fund) and Kyobo Life Insurance joined in as arrangers.

Proceeds are to support the development of three middle schools in Seonam, South Korea.

A W90.8 billion project financing for Inje Tongil Village has been sealed via sole bookrunner Korea Development Bank.

The 20-year term loan is split into a W67.5 billion portion, a W18 billion facility and a W 5.3 billion tranche.

Syndication saw Korea Build Transfer Lease Infrastructure Fund (KBTL Fund), Korea Federation of Community Credit Cooperation, LIG Insurance and Samsung Fire & Marine Insurance come in as arrangers.

Proceeds are for the development of military facilities and accommodations in Inje County, Gangwon, South Korea.

Kia Motor Corp's €115 million two-year debt facility has been inked via a consortium of nine mandated lead arrangers.

Mandated lead arrangers BNP Paribas and Standard Chartered Bank committed €20 million each, while Sumitomo Mitsui Banking Corp took €15 million. Bank of America, Bank of Nova Scotia, Bank of Tokyo-Mitsubishi UFJ, Credit Agricole, DBS Bank and Royal Bank of Scotland provided €10 million apiece.

Proceeds are to repay existing debt facilities.

Taiwan

Chung Shan Medical University's NT$3.4 billion financing was sealed last week via bookrunners E.Sun Commercial Bank and Land Bank of Taiwan.

The transaction consists of two seven-year term loan tranches of NT$140 million and NT$650 million each and two 18-year term loans of NT$820 million and NT$1.5 billion apiece. There is also a NT$1 billion five-year revolver with a five-year extension option. The facility features a margin of 97bp over the average one-year savings rates of Bank of Taiwan, Chang Hwa Commercial Bank, First Commercial Bank, Hua Nan Commercial Bank, Land Bank of Taiwan and Taiwan Cooperative Commercial Bank. 

Agricultural Bank of Taiwan, Chang Hwa Commercial Bank, E.Sun Commercial bank, Taichung Commercial Bank, Taiwan Business Bank and Yuanta Commercial Bank came in as participants.

Proceeds are to finance the construction of a new hospital and educational facilities at Chung Shan Medical University, to refinance existing debt facilities and for working capital purposes.

Top Food Industry Corp's NT$1.3 billion dual-currency fundraising has been oversubscribed to NT$2.4 billion and signed via coordinating arrangers Bank of Taiwan, E.Sun Commercial Bank, Land Bank of Taiwan, Taichung Commercial Bank and Taiwan Cooperative Bank.

Secured by land, buildings and equipment, the debt package is split into an NT$800 million seven-year term loan, a $16 million five-year letter of credit and a NT$500 million five-year revolver/term loan tranche. However, the sum of the latter two tranches cannot exceed NT$500 million. The facility features a pricing of 80bp to 100bp over the one-year post office time deposit rate if drawn in New Taiwan dollars and over Sibor if drawn in dollars.

Final allocations saw the leads contribute NT$180 million each, except for Bank of Taiwan, which committed NT$220 million. Managers Chang Hwa Commercial Bank lent NT$140 million, while First Commercial Bank and Hua Nan Commercial Bank gave NT$110 million apiece.

Proceeds are for refinancing and working capital purposes.

Vietnam

A dual-currency club deal for Vietnam Electricity Group (EVN) has been concluded via mandated lead arrangers BNP Paribas, Societe Generale and Sumitomo Mitsui Banking Corp.

The debt package comprises $80 million and ¥8.8 billion portions. Proceeds are for general corporate purposes.