Fortune Oil PRC Holdings' $80 million three-year term loan has been inked as a club deal via a consortium of 11 banks.
Mandated lead arranger Standard Chartered Bank committed $30 million, while Citic Ka Wah Bank contributed $20 million. Bank of Taiwan, EnTie Commercial Bank, Maybank, Taiwan Business Bank and Woori Global Markets Asia took $4 million apiece. Industrial Bank of Taiwan and Taishin International Bank held $3 million each, while Bank Sinopac and Public Bank joined in with $2 million tickets.
Guaranteed by Fortune Oil, the deal is priced at 270bp over Hibor. Proceeds are for debt repayment and working capital purposes.
A $43 million amortising facility for Texhong Textile Group...