Loan Week

Loan Week, April 12-18

A roundup of the latest syndicated loan market news.


Ricegrowers has secured a A$259 million one-year facility through sole bookrunner Commonwealth Bank of Australia.

The facility is split into a A$130 million revolver, an A$80 million term loan and a A$49 million tranche.

Final allocations saw the lead provide A$70 million while mandated lead arranger Westpac lent A$73 million. Mandated leads ANZ and Rabobank pledged A$61 million and A$56 million, respectively.

Proceeds are to refinance existing indebtedness.



Orange Renewable Power has secured a Rs900 million 14-year term loan through sole bookrunner and mandated lead arranger State Bank of India.

The single tranche facility is priced at 175bp over State Bank of Patiala’s base rate.

Final allocations saw participants Indian Renewable Energy Development Agency and State Bank of Patiala come in with Rs450 million each.

Proceeds are to support the development of a wind power plant.

Trident Corp has completed a Rs2.8 billion 10-year financing through sole bookrunner and mandated lead arranger State Bank of India.

The facility is priced at 255bp over base rate of State Bank of India, and will be repaid by 28 quarterly instalments.

Syndication saw Allahabad Bank, Central Bank of India, Corporation Bank, Indian Bank and Oriental Bank of Commerce come in as participants.

Proceeds are for the development of a coal based power plant and a stream power generation facility at Budni, India.



Greenland Rajawali Utama has concluded a $160 million five-year dual-currency transaction on a club basis through mandated lead arrangers Bank Central Asia, Bank Mandiri (Persero), Standard Chartered and UOB.

The facility comprises a Rp622.6 billion term loan and a $96 million portion.

Final allocations saw all banks contribute equally to the facility.

Proceeds are to support the construction of an office tower and a luxury hotel.




OM Materials (Sarawak) has signed a $356 million-equivalent dual-currency facility through joint mandated leads Export-Import Bank of Malaysia, Maybank, RHB Bank and Standard Chartered.

The club deal consists of a $215 million 10-year term loan, a M$310 million seven-year term loan and a M$126 million one-year bridge facility.

Proceeds are for project financing purposes.


New Zealand

NZ Holdings (2012) completed a NZ$260 million five-year financing on Monday (April 15) on a club basis through mandated leads ANZ, NAB and Commonwealth Bank of Australia. The three banks committed evenly to the facility.

The debt package comprises a NZ$150 million term loan, a NZ$75 million capital expenditure facility, a NZ$15 million tranche, and a NZ$20 million guarantee facility.

Proceeds are for working capital and capital expenditure purposes.



Cando Corp secured a NT$3.2 billion five-year loan package on Tuesday (April 16) through joint bookrunners Bank SinoPac and First Commercial Bank.

The facility consists of a NT$640 million term loan, a NT$1.9 billion tranche, and a NT$640 million revolver, respectively.

Final allocations saw bookrunner First Commercial Bank hold NT$1 billion while Bank SinoPac contributed NT$900 million. Mandated lead arranger Land Bank of Taiwan joined in with NT$300 million while Bank of Taiwan, Chang Hwa Commercial Bank, Taishin International Bank, Taiwan Cooperative Bank and Yuanta Commercial Bank rounded the group with NT$200 million each.

Proceeds are for capital expenditure and working capital purposes.

East Forest Development Enterprise has signed a NT$2.7 billion term loan through bookrunners First Commercial Bank, Land Bank of Taiwan and Taiwan Cooperative Bank.

The facility consists of a NT$75 million guarantee facility, a NT$1.3 billion term loan, a NT$450 million portion, a NT$502 million tranche and a NT$388 million tranche.

Final allocations saw Land Bank of Taiwan take NT$950 million while First Commercial Bank and Taiwan Cooperative Bank pledged NT$360 million each. Arrangers Mega International Commercial Bank, Shanghai Commercial & Savings Bank and Taiwan Business Bank contributed NT$220 million each, while participants Agricultural Bank of Taiwan and Bank of Kaohsiung gave with NT$150 million and NT$195 million, respectively.

Proceeds are to support the construction of a build-operate-transfer sewage system project in Yilan, east Taiwan and to refinance an existing facility signed in Jul 2008.

Farglory Land Development has concluded a NT$1.2 billion three-year term loan on a club basis through mandated lead arrangers Chinatrust Commercial Bank and Shanghai Commercial & Savings Bank.

Final allocations saw Shanghai Commercial & Savings Bank give NT$630 million while Chinatrust Commercial Bank held NT$584 million.

Proceeds are for general corporate purposes.

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