Loan Week, April 11-17

A roundup of the latest syndicated loan market news.

China

Guangxi Beibu Gulf Investment Group has sealed a Rmb6.9 billion financing through sole bookrunner and mandated lead arranger China Development Bank.

Final allocations saw the lead take Rmb4.4 billion while participants Agricultural Bank of China and Postal Savings Bank of China provided Rmb1.7 billion and Rmb800 million respectively.

Proceeds are for the development of the Guigang-Hepu Expressway in Guangxi, China.

Hong Kong

Swinley Investment has sealed a HK$1.8 billion five-year financing through joint mandated lead arrangers ANZ, Credit Agricole, HSBC and SMBC on a club basis.

The deal is split into a HK$1.1 billion term loan and a HK$700 million revolving credit facility.

Final allocations saw the mandated lead arrangers hold HK$450 million each.

Proceeds are to refinance existing indebtedness.

United Asia Finance has obtained a $314 million-equivalent four-year facility through bookrunners and mandated lead arrangers Mizuho, Standard Chartered and Taipei Fubon Commercial Bank.

The facility is split into two HK$ portions for a combined total of HK$2.1 billion and two US$ portions for a total of US$40 million.

Syndication saw First Gulf Bank come in as mandated lead arranger while China Construction Bank Asia, Citi, E.Sun Commercial Bank, JPMorgan, Mega International Commercial Bank, Taishin International Bank and UBS joined in at lower levels.

Proceeds are to refinance existing indebtedness and for working capital purposes.

India

Rohit Ferro-Tech has completed a Rs25.1 billion financing through sole bookrunner and mandated lead arranger State Bank of India.

The facility comprises three term loan tranches and one revolving credit facility.

Syndication saw Allahabad Bank, Andhra Bank, Bank of Baroda, Canara Bank, Central Bank of India, Export-Import Bank of India, Punjab National Bank, State Bank of Hyderabad, State Bank of Travancore, UCO Bank and United Bank of India come in as participants.

Proceeds are for capital expenditure and general corporate purposes.

Malaysia

Measat International (South Asia) has secured a $225 million 12.5 year term loan on a club basis through mandated lead arrangers Credit Agricole, HSBC, Maybank, Natixis, OCBC, RHB Investment Bank, SMBC and Standard Chartered.

The facility is split into a $62 million, an $84 million, a $64 million and a $15 million tranches respectively.

Proceeds are to refinance existing indebtedness.

Singapore

Asia Square Tower 2 has obtained a S$1.2 billion four-year loan package through mandated leads ANZ, BNP Paribas, Credit Agricole, DBS, Maybank, OCBC, Standard Chartered and UOB on a club basis.

The financing consists of a S$1.0 billion term loan and a S$180 million revolving credit facility.

Proceeds are for debt repayment and general corporate purposes.

Axis Nova Singapore has signed a $160 million 10-year term loan through bookrunners ABN Amro and KfW. The facility is guaranteed by Finnvera and GIEK.

Final allocations saw ABN Amro and KfW lend $65 million and $60 million respectively while participant Eksportkreditt Norge contributed $35 million.

Proceeds are to support the construction of a semi-submersible accommodation rig.

ECOM Agroindustrial Asia has inked a $440 million 364-day revolver through bookrunners and mandated lead arrangers DBS, ING and Standard Chartered.

The guaranteed facility was upsized from $300 million.

Syndication saw ABN Amro, ANZ, Bank of China, Bank of Tokyo-Mitsubishi UFJ, Commonwealth Bank of Australia, HSBC, Rabobank and Societe Generale join in as mandated lead arrangers while United Overseas Bank came in as lead arranger.

Proceeds are for refinancing, working capital and general corporate purposes.

Taiwan

Papago International Resort has inked a NT$600 million deal through joint bookrunners Bank SinoPac, Cosmos Bank Taiwan, E.Sun Commercial Bank and Yuanta Commercial Bank.

The fundraising consists of a NT$175 million five-year term loan, a NT$225 million three-year tranche, a NT$100 million three-year portion and a NT$100 million three-year revolver.

Final allocations saw the bookrunners commit NT$113 million each while Chang Hwa Commercial Bank, Hua Nan Commercial Bank and Taiwan Cooperative Bank participated with NT$50 million apiece.

Proceeds are for debt repaying and working capital purposes.

Wah Hong Industrial has concluded an $87 million-equivalent five-year revolving credit facility through joint bookrunners E.Sun Commercial Bank and First Commercial Bank.

The transaction contains a NT$500 million tranche, a $50 million tranche and a $20 million portion.

Syndication saw CTBC Bank, Chang Hwa Commercial Bank, Land Bank of Taiwan, Mega International Commercial Bank and Taiwan Cooperative Bank come in as mandated leads while Bank SinoPac and Taishin International Bank joined in at lower tiers.

Proceeds are to refinance an existing loan facility signed in May 2010 and for working capital purposes.