Loan Week, April 25-May 1

A roundup of the latest syndicated loan market news.

India

Adhunik Cement has inked an Rs1.5 billion eight-year term loan via sole bookrunner Yes Bank.

The financing was guaranteed by Dalmia Cement (Bharat).

During syndication, Punjab National Bank came in as participant.

Proceeds are for capital expenditure purposes.

Kesoram Industries has inked a Rs1 billion eight-year term loan through sole bookrunner and mandated lead arranger State Bank of India.

BK Birla Group is the loan sponsor.

Syndication saw West Bengal Infrastructure Development Finance Corp joins in as the sole lender.

Proceeds are for general corporate purposes.

Japan

Sokari has secured a $175 million 12-year term loan through sole bookrunner and mandated lead arranger Credit Agricole.

Syndication saw Norinchukin Bank join in as participant.

Proceeds are for aircraft financing.

Korea

Hyundai Motor Manufacturing Rus has sealed a €65 million two-year term loan though mandated lead arrangers Citi and SMBC on a club basis.

Proceeds are for refinancing purposes.

New Zealand

Perpetual Trust has inked a NZ$360 million revolver on a club basis through mandated lead arrangers ANZ, Bank of New Zealand, Commonwealth Bank of Australia and Westpac.

The facility is split into a NZ$200 million two-year and three-month tranche and a NZ$160 million nine-month portion.

Final allocations saw the arrangers lend NZ$90 million each.

Proceeds are to refinance existing indebtedness.

TCNZ Finance has secured a NZ$300 million three-year revolver on a club basis through mandated lead arrangers ANZ, Bank of New Zealand, Bank of Tokyo-Mitsubishi UFJ, Citi, Commonwealth Bank of Australia, HSBC and Westpac.

Final allocations saw Westpac provide NZ$51 million while ANZ, Bank of New Zealand and Commonwealth Bank of Australia committed NZ$49 million each. Bank of Tokyo-Mitsubishi UFJ, Citi and HSBC pledged NZ$34 million apiece.

Proceeds are to refinance existing indebtedness.

Singapore

India LNG Transport Co (No 4) has signed a $188 million 14.5-year term loan through bookrunner SMBC.

Nippon Yusen Kabushiki Kaisha, Mitsui OSK Lines, Kawasaki Kisen Kaisha and Shipping Corporation of India are the loan sponsors.

Syndication saw Mitsubishi UFJ Trust & Banking Corp and Sumitomo Trust Bank come in as mandated lead arrangers.

Proceeds are for the construction of a LNG tanker.

Suntec Real Estate Investment Trust has secured a S$800 million five-year term loan through mandated lead arrangers Bank of China, Citi, DBS, HSBC, Maybank, OCBC, Standard Chartered Bank and SMBC on a club basis.

HSBC Institutional Trust Services (Singapore) is the trustee of the borrower.

Proceeds are for refinancing purposes.

Taiwan

Components Investment has signed a $70 million two-year term loan via sole bookrunner CTBC Bank.

KKR sponsored the single-tranche transaction.

Final allocations saw the lead hold $35 million while mandated lead arranger Taishin International Bank came in with $25 million. Participant Ta Chong Bank summed up with $10 million.

Proceeds are to repay existing indebtedness and for general corporate purposes.

Run Long Construction has concluded a NT$2.9 billion five-year fundraising through sole bookrunner Land Bank of Taiwan.

The deal consists of a NT$1.1 billion tranche and a NT$1.8 billion portion.

Final allocations saw the lead take NT$978 million while participants Agricultural Bank of Taiwan, Chang Hwa Commercial Bank, Taichung Commercial Bank, Taiwan Business Bank and Taiwan Cooperative Bank contributed NT$340 million each. Bank of Taiwan rounded up the syndication with NT$200 million.

Proceeds are to support land purchasing in Chupei city, Hsinchu county and for residential construction purposes.