Australia
United Energy Distributionhas completed a A$500 million multi-tranche facility on a club basis through mandated leads ANZ, Bank of Tokyo-Mitsubishi UFJ, Commonwealth Bank of Australia, National Australia Bank, Sumitomo Mitsui Banking Corp and Westpac.
The deal is split into a A$120 million seven-year loan, a A$120 million three-year facility and a A$260 million revolvers.
Final allocations saw ANZ and Westpac give A$110 million each while Bank of Tokyo-Mitsubishi UFJ, Commonwealth Bank of Australia and National Australia Bank lent A$80 million a piece. Sumitomo Mitsui Banking Corp took A$40 million.
Proceeds are to refinance a A$450 million facility signed in December 2005.
Hong Kong
Sole bookrunner BNP Paribas completed a HK$1.2 billion-equivalent financing for China High Speed Transmission Equipment Group on Monday (April 11).
The three-year term loan is split into a HK$1.1 billion tranche and a $16.5 million portion which are priced at 205bp over Hibor or Libor respectively.
Final allocations saw mandated lead arrangers Wing Lung Bank take HK$400 million while BNP Paribas (Hong Kong), ICBC (Macau) and Natixis (Hong Kong) lent HK$200 million each. Arrangers Cathay United Bank (Hong Kong) joined in with HK$50 million. China Development Industrial Bank contributed $10 million and Bank of Ayudhya committed $6.5 million.
Proceeds are for refinancing and general corporate purposes.
Link Financehas secured a HK$2.5 billion five-year financing through bookrunners ANZ, Bank of China (Hong Kong), Bank of Tokyo-Mitsubishi UFJ, DBS Bank and HSBC.
Guaranteed by Link Holdings and Link Properties, the deal is split equally into a term loan and a revolving credit.
The bookrunners contributed HK$400 million each while mandated lead arrangers Chong Hing Bank joined in with HK$300 million. Dah Sing Bank and SMBC committed HK$100 million.
Proceeds are to refinance aHK$5 billion five-year deal signed in August 2006 and for general corporate purposes.
Sany Hong Kong Grouphas secured a $175 million three-year term loan through sole bookrunner Citi. Dah Sing Bank joined in as a mandated lead arranger.
Bank of Nova Scotia, Bank of Tokyo-Mitsubishi UFJ, DZ Bank (Hong Kong) and Fubon Bank (Hong Kong) joined in as lead arrangers. Proceeds are to refinance a $200 million facility signed in August 2008.
Sun Hung Kai Properties (Financial Services)secured a HK$16.8 billion financing last week through a consortium of 15 coordinating arrangers and underwriters. The deal was well-received by the market and was upsized from HK$8 billion.
Final allocations saw the leads Agricultural Bank of China and Mizuho Corporate Bank contribute HK$2 billion each while Bank of China (Hong Kong), Bank of Tokyo-Mitsubishi UFJ and HSBC took HK$1.5 billion apiece. Bank of Communications, China Construction Bank, Oversea-Chinese Banking Corp, Sumitomo Mitsui Banking Corp and United Overseas Bank committed HK$1 billion each while ANZ, ICBC (Asia), Standard Chartered Bank and Wing Lung Bank gave HK$500 million apiece. Co-arrangers BNP Paribas, DBS Bank and Scotiabank held HK$300 million each while Mega International Commercial Bank and lead manager Hua Nan Commercial Bank ended up with HK$150 million apiece.
Proceeds are for business development in Hong Kong and China.
India
Axis Bank has obtained a $200 million three-year term loan through mandated lead arrangers ANZ, Citibank, Commerzbank, Credit Agricole and Standard Chartered Bank.
The facility is priced at 145bp over Libor. Proceeds are for general corporate purposes.
Balkrishna Industries has signed a $175 million six-year term loan with bookrunners and mandated lead arrangers ANZ, BNP Paribas, Royal Bank of Scotland, Standard Chartered Bank and State Bank of India.
ANZ, Royal Bank of Scotland, Standard Chartered Bank and State Bank of India lent $27.5 million each while Bank of Baroda and BNP Paribas contributed $20 million. Arranger Societe Generale joined in with $15 million while co-arranger King’s Town Bank ended up with $10 million.
Proceeds are for capital expenditure purposes.
Navayuga Jahnavi has sealed a Rs7.2 billion 15-year term loan through syndication agent SRB Consultancy. The facility will be repaid in 44 quarterly instalments.
Final allocations saw mandated leads India Infrastructure Finance Co (IIFCL) and State Bank of Hyderabad pledge Rs2 billion apiece while Punjab National Bank lent Rs1.2 billion. ICICI Bank gave Rs800 million while Andhra Bank and State Bank of Bikaner & Jaipur provided Rs600 million each.
Proceeds are for the road construction project in the state of Bihar, India.
Usha Martinhas completed a $125 million dual tranche term loan through sole bookrunner and mandated lead arranger State Bank of India. The debt package consists of a $50 million 5.5-year tranche and a $75 million seven-year portion, both priced at 285bp over Libor.
Participants were DBS Bank and Bank of Tokyo-Mitsubishi UFJ. State Bank of India (Canada) was also a participant to the facility.
Proceeds are for capital expenditures purposes.
Japan
Mitsubishi Corp has renewed a $1 billion 364-day multi-currency revolving credit with sole bookrunner Citi.
Bank of Tokyo-Mitsubishi UFJ came in as a mandated lead arranger while Bank of America, BNP Paribas, Credit Agricole, HSBC and eight other undisclosed lenders joined in at lower tiers.
Proceeds are for general corporate purposes.
Papua New Guinea
New Britain Palm Oilhas secured a $240 million five-year dual tranche financing with joint bookrunners and mandated lead arrangers Maybank and OCBC (Malaysia).
The leads lent $100 million each while ANZ (PNG) came in as a lead manager with $40 million.
Proceeds are to refinance existing bridge facility, finance plantation development expenses and for working capital purposes.
Singapore
Cargilland its subsidiaries Cargill Global Funding and Cargill Asia Pacific Treasury have secured a $1.3billion financing through bookrunners and mandated lead arrangers BNP Paribas, Deutsche Bank, HSBC, Royal Bank of Scotland and Standard Chartered Bank.
The 364-day revolving credit consists of a $728 million European tranche and a $522 million Asian tranche which are priced at 65bp over Libor.
For the Asian tranche, HSBC and Standard Chartered Bank gave $74 million each while National Australia Bank and Westpac committed $60 million apiece. ANZ, DBS Bank, Oversea-Chinese Banking Corp and United Overseas Bank joined in with $40 million each while Bank of Tokyo-Mitsubishi UFJ came in with $30 million. BNP Paribas pledged $24 million while Societe Generale and Mizuho Corporate Bank rounded up the syndicate with $20 million respectively.
The deal was oversubscribed and upsized from $1 billion. Proceeds are for general corporate funding purposes.
Taiwan
Banco Santander Chilesigned a $200 million three-year working capital facility on April 8through joint bookrunners Bank of Taiwan and Mizuho Corporate Bank.
The term loan, upsized from $150 million, is priced at 100bp over three-month Libor.
Final allocations saw Mizuho Corporate Bank, Bank of Taiwan and Maybank contribute $100 million, $50 million and $15 million respectively. Mega International Commercial Bank gave $10 million while Bank SinoPac, Chang Hwa Commercial Bank, Export-Import Bank of Republic of China, Hua Nan Commercial Bank and Taiwan Cooperative Bank lent $5 million apiece.
Ruby Metals’ NT$1.2 billion credit facility was completed on April 12 through mandated leads Agricultural Bank of Taiwan, Taichung Commercial Bank and Taiwan Business Bank.
The deal was oversubscribed and attracted four banks to join at lower levels including Bank of Kaohsiung, Land Bank of Taiwan, Taiwan Cooperative Bank and Yuanta Commercial Bank.
Proceeds are to repay existing debt, for capital expenditure and working capital requirements.
Sole bookrunner Ta Chong Bank has sealed a NT$600 million commercial paper guarantee facility for Wafer Works Corp.
The facility is split into a NT$160 million two-year tranche and a NT$440 million one-year renewable portion which offers 70bp over the secondary CP rate.
General syndication saw China Bills Finance Corp, Dah Chung Bills Finance Corp, Mega Bills Finance Corp, Ta Ching Bills Finance Corp and Waterland Bills Finance Corp came in as participants.
Proceeds are for working capital purposes.
Protek (Shanghai)secured a $200 million three-year term loan on April 7 as a club deal through four mandated lead arrangers.
ANZ, DBS Bank, HSBC and Mega International Commercial Bank contributed equally to the loan. Proceeds are for general working capital purposes.
