Loan week, April 30-May 6

Australia

A $430 million four-year term loan for Qantas Airways has been signed via mandated lead arrangers and bookrunners ANZ and BNP Paribas.

Syndication saw HSBC, Oversea-Chinese Banking Corp and Sumitomo Mitsui Banking Corp join in as mandated lead arrangers, while Bank of East Asia, Credit Industriel et Commercial (CIC), Goldman Sachs, ICBC (Asia), UBS and Wing Lung Bank joined in as lead arrangers.

Bank of China, Chinatrust Commercial Bank, Mega International Commercial Bank and Morgan Stanley participated as arrangers, while lead managers Bank of America Merrill Lynch, Bank of Kaohsiung, Bank of Taiwan, Chang Hwa Commercial Bank, China Development Industrial Bank, Citi, Hua Nan Commercial Bank, Land Bank of Taiwan, Macquarie Bank, Taishin International Bank, Taiwan Business Bank and Taiwan Shin Kong Commercial Bank also took part in the financing.

Proceeds are to refinance an existing facility signed in 2006 and for general corporate purposes.

China

China Huiyuan Juice Group's $250 million three-year term loan was inked on April 30 via mandated coordinating arrangers and bookrunners Industrial & Commercial Bank of China (Asia) and Standard Chartered Bank. 

Final allocations saw the leads take $25 million each, while coordinating arranger China Development Bank (Hong Kong) joined in with $24 million. Arrangers Bank of China (Macau) took $22 million and CITIC Ka Wah Bank lent $20 million.

Senior managers Hang Seng Bank and State Bank of India (Hong Kong) committed $15 million apiece, while Mizuho Corporate Bank contributed $11 million. Bank of Ayudhya (Hong Kong), Bank of Taiwan (Hong Kong), Chinatrust Commercial Bank, EnTie Commercial Bank, First Commercial Bank (Hong Kong), Land Bank of Taiwan (Hong Kong), Taishin International Bank and Taiwan Cooperative Bank (Hong Kong) gave $10 million each, while Industrial Bank of Taiwan and Cathay Bank (Hong Kong) pledged $7 million and $6 million respectively. 

Proceeds are to refinance existing indebtedness and for general corporate funding purposes.

Hong Kong

CLP Holdings' HK$6 billion self-arranged five-year club loan has been completed via a consortium of 18 coordinating arrangers.

The revolver offers a margin of 60bp over Hibor.

Final allocations saw ANZ, Bank of China, Bank of Tokyo-Mitsubishi UFJ, Citi, DBS Bank, Hang Seng Bank, HSBC, Mizuho Corporate Bank, Oversea-Chinese Banking Corp, Royal Bank of Scotland, Standard Chartered Bank and Sumitomo Mitsui Banking Corp contribute HK$400 million each, while Banca Monte dei Paschi di Siena (MPS), Banco Bilbao Vizcaya Argentaria (BBVA), Bank of America Merrill Lynch, Barclays, BNP Paribas and Chong Hing Bank committed HK$200 million apiece.

Proceeds are for general corporate purposes.

PCCW's HK$16 billion self-arranged debt package was inked on May 5 via 21 coordinating arrangers. The financing features three tranches, including an HK$8 billion four-year revolving facility, a HK$3 billion four-year tranche and a HK$5 billion six-year term loan.

Hong Kong Telecommunications (HKT) is the borrowing entity. The four-year tranches feature a margin of 90bp over Hibor and the six-year tranche offers 115bp over the same rate.

Syndication saw ANZ, Agricultural Bank of China, Bank of America Merrill Lynch, Bank of China, Bank of East Asia, Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Credit Agricole, DBS Bank, Hang Seng Bank, HSBC, ICBC (Asia), ING Bank, Mizuho Corporate Bank, Natixis, Oversea-Chinese Banking Corp, Royal Bank of Scotland, Scotiabank, Standard Chartered Bank, Sumitomo Mitsui Banking Corp and Wing Lung Bank participate in the funding.

The facility received commitments in excess of HK$25 billion, which represents a subscription rate of more than 1.5 times.

Proceeds are to refinance an HK$8.2 billion revolver and a HK$7.8 billion term loan tranche of a HK$23.8 billion facility signed in September 2008.

India

GVK Coal Tokisud successfully secured a Rs2.3 billion 14.25-year term loan on April 27 via sole mandated lead arranger IDBI Bank.

Syndication saw the lead take Rs400 million, while Axis Bank, Bank of Baroda, Union Bank of India and United Bank of India contributed Rs350 million apiece.

Proceeds are to support a coal mine project.

A $20 million five-year deal for Nava Bharat Singapore has been sealed via sole bookrunner ICICI Bank.

Guaranteed by Nava Bharat Ventures, the deal consists of $16 million and $4 million term loans that pay 350bp and 460bp over Libor respectively.  

Final allocations saw UCO Bank provide $10 million, while ICICI Bank and Indian Bank gave $5 million each.

Proceeds are for acquisition purposes.

Power Finance Corp's $300 million five-year facility has been signed via sole mandated lead arranger State Bank of India.

The facility features a spread of 154bp over Libor.

State Bank of India, Mizuho Corporate Bank and Bank of Tokyo Mitsubishi UFJ contributed $175 million, $75 million and $50 million respectively.

Proceeds are for on-lending to borrowers in the power sector to meet rupee capital expenditure requirements.

An Rs18.6 billion 9.5-year term loan for Reliance Cementation was completed on April 29 via sole mandated lead arranger IDBI Bank.

Joining in as participants were Allahabad Bank, Andhra Bank, Bank of India, Karur Vyasa Bank, Oriental Bank of Commerce, Syndicate Bank, UCO Bank, Union Bank of India and Vijaya Bank.

Proceeds are for project financing purposes.

Japan

Orix Corp and its subsidiaries -- Orix USA Corp, Orix Capital Resources and Orix Australia Corp -- have successfully secured a $525 million 364-day revolving credit facility via bookrunners Credit Agricole and BNP Paribas (Tokyo).

Syndication saw Australia and New Zealand Banking Group, ING Bank and Westpac join as mandated lead arrangers, while Natixis came in as a lead arranger. Other participants include Banca Monte Dei Paschi di Siena (MPS), Bank of America Merrill Lynch, Bank of China, Bank of Taiwan, Bank Sinopac, Chang Hwa Commercial Bank, Chinatrust Commercial Bank, Citibank Japan, Industrial Bank of Taiwan, Standard Chartered Bank, Ta Chong Bank, Taishin International Bank, Taiwan Business Bank and Union de Banques Arabes et Francaises (UBAF).

Proceeds are for general corporate purposes.

Singapore

Singapore-listed company Ezra Holdings has recently mandated DBS Bank and HSBC to arrange a three-year $100 million unsecured guarantee facility.

The facility comprises an issue of fixed-rate guaranteed notes and a guaranteed transferable term loan. 

The package is guaranteed by Asian Drilling Services and Emas Offshore. Proceeds are to finance future new business venture opportunities and for capital expenditure purposes.

Taiwan

Highwealth Construction's NT$4.5 billion five-year fundraising was completed on April 28 via mandated lead arrangers Land Bank of Taiwan and Taiwan Cooperative Bank.

The fundraising consisted of NT$2.3 billion, NT$1.7 billion and NT$500 million term loans, which are priced at 80bp to 90bp over the one-year floating post office savings rate with a 15bp commitment fee.

Final allocations saw Taiwan Cooperative Bank commit NT$1.2 billion, while Agricultural Bank of Taiwan and Land Bank of Taiwan each took NT$1 billion. DBS Bank and Mega International Commercial Bank contributed NT$400 million apiece, while Ta Chong Bank and Taichung Commercial Bank came in with NT$250 million each.

Proceeds are for a residential project and working capital purposes.

A NT$1.8 billion two-year revolver for Ta Chong Securities has been signed via sole bookrunner Mega International Commercial Bank. The deal was upsized to NT$1.8 billion from NT$1.5 billion.

The revolver features a margin of 70bp over the secondary CP rate.

Chang Hwa Commercial Bank, Hua Nan Commercial Bank, Industrial Bank of Taiwan, Jih Sun International Bank and Mega International Commercial Bank each pledged NT$289 million. Taiwan Cooperative Bank and Cathay United Bank lent NT$259 million and NT$96 million respectively.

Proceeds are for working capital purposes.