A $285 million 10-year financing for Allco Asset Finance has been completed via bookrunners BNP Paribas (Singapore Branch) and HSH Nordbank (Singapore Branch).
Syndication saw Industrial & Commercial Bank of China joining in as equal-status arranger.
Proceeds are to support the purchase of aircraft.
China
Leads ICBC Asia, ING Bank, Rabobank, RBS and WestLB have launched a $248.3 million equivalent multi-tranche facility for Asia Timber Products, an SPV for Plantation Timber Products Group, into senior and general syndication.
The dual currency loan comprises an $80 million five-year financing, a $116.5 million six-year credit, a Rmb252 million six-year portion and a Rmb108 million five-year bullet. The dollar portions feature spreads of 275bp and 325bp over Libor respectively, while both renminbi tranches are priced at 110% of the PBOC rate.
A roadshow was held in Hong Kong on April 16 with banks having until mid-May to respond. Proceeds are to refinance an $86 million LBO financing for Plantation Timber Products Group in 2006 and to support an add-on acquisition of Asia Dekor Holdings.
A $46 million equivalent three-year dual tranche debt package for Baoding Tianwei Yingli New Energy Resources has been sealed via mandated arrangers Citi and NordLB.
The deal comprises a $20 million tranche and a Rmb185 million portion.
Syndication saw Korea Development Bank joining in as a manager. Proceeds are for general corporate purposes.
Syndication of a $100 million five-year financing for China Guofeng Group is still ongoing via sole bookrunner HSBC. A bank presentation was held on April 14.
Banks have been invited to join on three tiers. Coordinating arrangers committing $15 million and above receive 40bp over Libor in upfront fees for an all-in of 125bp. Arrangers providing between $10 million and $14 million get 30bp while senior managers lending between $5 million and $9 million gain 20bp for all-ins of 122.5bp and 120bp respectively.
The margin is priced at 115bp over Libor and features an average life of four years.
The deadline for banks to revert is at the end of April.
Henan Express WayÆs Rmb5.97 billion 20-year fundraising has been launched into syndication via sole mandate Bank of China.
The deal pays a margin of 90% of the PBOC rate and is secured against the toll rights.
So far, Agricultural Bank of China, China Construction Bank and ICBC Asia have joined as lenders.
The funds are to support the construction of a highway connecting Hangzhou, the capital of Zhejiang province, to Ruili in Yunnan.
Suning ApplianceÆs Rmb450 million three-year fundraising was signed on April 8 via sole mandated arranger and bookrunner BNP Paribas.
The margin is priced at 100% of the PBOC rate.
Final allocations saw BNP Paribas contributing Rmb90 million, while lead arrangers Sumitomo-Mitsui Banking Corporation and Woori Bank (Shanghai Branch) provided Rmb78 million apiece.
Coming in as arrangers were Korea Exchange Bank (Shanghai Branch) and Mizuho Corporate Bank lending Rmb60 million each, while Korea Development Bank (Shanghai Branch) and Public Bank (Hong Kong Branch) took Rmb42 million apiece.
The funds are for general corporate requirements.
Hong Kong
Seaview FinanceÆs HK$530 million two-year transferable facility has been inked via sole mandated lead and bookrunner Citi.
Boswell Holdings is acting as the guarantor.
Syndication saw Dah Sing Bank, Chang Hwa Commercial Bank, Chong Hing Bank and Wing Lung Bank joining in as managers.
Proceeds are to refinance existing debt.
Syndication of Sinochem (Hong Kong)'s $500 million three-year bullet loan has been put on hold at the borrowersÆ discretion until further notice. The mandated leads are ABN AMRO, BNP Paribas, Calyon, ING Bank and Standard Chartered.
India
A $100 million five-year bullet for Larsen & Toubro has been inked on a club basis via leads Bank of Nova Scotia, Caja Madrid, HSBC and Sumitomo Mitsui Banking Corporation, with each bank holding $25 million.
Proceeds are to support capital expenditure requirements.
A $400 million five-year term loan for Wipro has been completed via a syndicate of eight mandated arrangers on a club basis.
The deal pays a spread of 53bp over Libor.
ABN AMRO, Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Calyon, Citi, HSBC, Mizuho Corporate Bank and Standard Chartered Bank committed $50 million each.
Proceeds are for general corporate purposes.
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