GUD HoldingsÆ A$180 million dual tranche financing has been signed on a club basis via ANZ and Westpac Banking Corporation, with each bank committing A$90 million.
The loan was split equally into two A$90 million tranches and features tenors of one and three years respectively.
Syndication of Tatts GroupÆs A$1 billion multi-tranche financing, which was launched to the market on April 23, has generated strong interest with ANZ committing as an early bird to the deal. Commonwealth Bank of Australia, National Australia Bank, Royal Bank of Scotland and Westpac Banking Corporation are leading the facility.
The loan comprises a A$200 million one-year credit, a A$620 million three-year tranche and a A$180 million five-year portion.
Banks have until late May to respond. Proceeds are for general corporate purposes and to refinance existing debt.
China
Shandong Weiqiao Aluminium & ElectricityÆs $130 million three-year fundraising was inked on April 29 via sole bookrunner Royal Bank of Scotland.
Final allocations saw the bookrunner provide $40 million while equal-status arrangers Rabobank and Sumitomo Mitsui Banking Corporation contributed $30 million each. Calyon and KBC Bank committed $15 million apiece as senior managers.
India
The mandated arranger group for Reliance PetroleumÆs $500 million seven-year facility has been expanded to a total of 19 banks and the transaction has been completed on a club basis. Bank of America Securities, Bank of Tokyo Mitsubishi UFJ, HSBC, Mizuho Corporate Bank, Sumitomo Mitsui Banking Corporation and WestLB are the original mandated leads.
Final allocations saw KFW Bank commit $26.84 million, while Bank of America Securities, Bank of Tokyo Mitsubishi UFJ, HSBC, Mizuho Corporate Bank, Sumitomo Mitsui Banking Corp, WestLB, Calyon, DnB Nor, Bank of Nova Scotia, Banco Bilbao Vizcaya Argentaria, Credit Industriel et Commercial, NordLB, Standard Chartered Bank, ABN AMRO, Natixis and Societe Generale provided $26.76 million each. KBC Bank took $25 million while lead arranger Arab Bank held $20 million.
Proceeds are to finance the construction of a polypropylene petrochemical refinery at the Jamnagar Special Economic Zone in Gujarat, India.
The targeted close for general syndication of Tata Motors SPV TML HoldingsÆ $3 billion 12-month bridge facility has been extended to mid-May with banks in the midst of seeking credit approvals. Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Citi, ING Bank, JPMorgan, Mizuho Corporate Bank, Standard Chartered Bank and State Bank of India are the leads who have also fully underwritten the loan.
Banks have been invited on four tiers in general. Lead arrangers providing $100 million or above get 40bp for an all-in of 150bp, while arrangers holding between $75 million and $99 million receive 35bp for an all-in of 145bp. Lead managers committing between $50 million and $74 million gain 30bp, while managers lending between $25 million and $49 million get 25bp for all-ins of 140bp and 135bp respectively.
The margin is 85bp for the first six months, 120bp from the sixth to the ninth month and 150bp thereafter. The blended margin is 110bp over Libor.
Proceeds are to support the acquisition of Jaguar and Land Rover from Ford.
Indonesia
PT PLN Perusahaan Listrik Negara (Persero)Æs $592.28 million 13-year project financing was signed on April 28 via a consortium of 18 banks. Bank of China, BNP Paribas, China Construction Bank, China Development Bank, China CITIC Bank, ICBC Asia and Societe Generale led the deal.
Final allocations saw all the leads except China Citic Bank taking $50.18 million each. China Citic Bank contributed $34.2 million. Arrangers ANZ, BayernLB, Calyon, Credit Suisse, Fortis, ING Bank, Natixis, Royal Bank of Scotland and WestLB committed $25 million apiece, while co-arrangers Mizuho Corporate Bank and Sumitomo Mitsui Banking Corporation each ended up with $16 million.
Singapore
Resorts World at SentosaÆs S$4.19 billion multi-tranche debt package was funded by the mandated lead arrangers on April 24. DBS Bank, HSBC, Oversea-Chinese Banking Corporation, Sumitomo Mitsui Banking Corporation and Royal Bank of Scotland are the original mandated lead arrangers with 10 banks joining as equal-status arrangers û Bangkok Bank, Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Calyon, CIMB, Commerzbank, DZ Bank, JPMorgan, Maybank and National Australia Bank.
The seven-and-a-half-year credit comprises a S$3.5 billion amortising loan, a S$500 million revolver and a S$193 million bank guarantee. DBS Bank and Oversea-Chinese Banking Corp jointly provided the bank guarantee. The deal pays a spread of 175bp over Libor.
General syndication is said to launch in May for banks wishing to join with smaller tickets.
Proceeds are for the construction of an integrated resort located on Sentosa Island, Singapore.
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