Syndication of ConnectEast FinanceÆs A$2.1 billion 10 year facility has been completed via a total 21 banks. The facility was funded on December 21 last year.
Mandated arrangers ABN AMRO, BNP Paribas, BOS International, Commonwealth Bank of Australia and United Overseas Bank committed A$150 million apiece. National Australia Bank contributed A$100 million while Calyon and HypoVereinsbank pledged $80 million each.
Arrangers Royal Bank of Scotland and WestLB took A$140 million apiece, Societe Generale held A$130 million and ANZ Bank and KBC Bank lent A$100 million each.
Co-arrangers Allied Irish Bank, Depfa Bank and Oversea-Chinese Banking Corp lent A$75 million each while Banco Bilbao Vizcaya Argentaria held A$51 million.
Lead managers Dexia Bank, DZ Bank, Mega International Commercial Bank and Natixis ended up with A$50 million apiece.
Macquarie Regional RadioworksÆ A$310 million three year credit has been signed with ANZ Investment Bank as sole lead arranger. The deal was funded in December 21 last year.
This two tranche facility secured a total of 10 participants û Bank of Scotland, Bayerische Hypo- und Vereinsbank, Commonwealth Bank of Australia, ING Bank, Mega International Commercial Bank, Mizuho Bank, National Australia Bank, Rabobank Nederland, Societe Generale and WestLB.
The financing was divided into a A$310 million amortising portion and a A$20 million bullet loan, both with a tenor of three years.
Proceeds of the loan are to refinance an existing debt and for general corporate purposes.
An A$800 million three tranche club deal for Pacific Brands has been signed via mandated arrangers ANZ Investment Bank, Commonwealth Bank of Australia, HSBC Australia, National Australia Bank and Westpac.
All three tranches were bullet cash advances, one facility was for A$150 million, another for A$400 million and the final fraction made up of A$250 million. Maturity dates are February 2009, February 2010 and March 2012 respectively.
Proceeds are to finance the acquisition of Yakka.
Sole mandated arranger Barclays Capital is looking to launch Repco CorporationÆs A$425 million multi-tranche LBO facility early next week.
A senior A$340 million six year portion is split into three tranches û a A$90 million amortising loan offering a margin of 225bp over BBSY, a A$180 million bullet facility paying 200bp and a A$70 million working capital facility. An A$85 million six-and-a-half year sub-tranche carries a margin of 600bp.
Arrangers lending A$50 million or above earn a front-end fee of 75bp and co-arrangers receive 55bp for committing between A$35 million to A$49 million.
Proceeds are to support sponsor CCMP Capital AsiaÆs leveraged buyout of Repco. A bank presentation will be held on April 24 in Sydney with syndication close targeted for the end of May.
China
CSC Nanjing Tanker CorpÆs $180 million facility has been signed. Calyon was the sole mandated arranger and bookrunner.
Calyon committed $40 million while Industrial & Commercial Bank of China contributed $60 million.
Lead managers China Construction Bank held $30 million while Fortis Bank and Mizuho Corporate Bank took $25 million each.
Hong Kong
China Travel Service (Holdings) Hong KongÆs HK$2 billion five year financing has been launched into general syndication via mandated arrangers Bank of China and HSBC.
Banks have been invited on three tiers. Arrangers committing HK$175 million or above get a management fee of 30bp for an all-in of 42bp over Hibor, co-arrangers with HK$125 million to HK$170 million receive 25bp for an all-in of 41bp while senior managers lending between HK$75 million and HK$120 million get 20bp for an all-in of 40bp.
The deal offers a margin of 36bp over Hibor. Proceeds will be used for general corporate purposes and to refinance an existing loan signed in June 2004. Banks are to revert by the end of April.
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