Loan Week, August 2-8

A roundup of the latest syndicated loan market news.

Australia

Beach Energy has secured a A$320 million revolver through bookrunners and mandated lead arrangers ANZ and Commonwealth Bank of Australia.

The facility is split into a A$150 million three-year tranche, a A$150 million five-year portion and a A$20 million three-year tranche.

Final allocations saw the leads provide A$110 million apiece while HSBC and NAB joined in with A$50 million each as mandated lead arrangers.

Proceeds are to refinance existing indebtedness.

Hong Kong

NewOcean Energy Holdings has secured an $80 million-equivalent three-year deal through mandated lead arrangers DBS, Hang Seng Bank, HSBC and Standard Chartered Bank.

The club loan is divided into a $60 million tranche and a HK$156 million portion.

Final allocations saw mandated lead arranger Hang Seng Bank provide HK$156 million while DBS, HSBC and Standard Chartered Bank pledged $20 million each.

Proceeds are for working capital purposes.

India

Tata Group subsidiary, Khopoli Investments, has inked a Rs4.3 billion term loan on a club basis through mandated lead arrangers ANZ, Barclays, DBS and RBS.

Proceeds are to refinance existing indebtedness.

Trakindo Utama has obtained a $190 million five-year revolving credit facility through sole bookrunner OCBC.

The single tranche facility is priced at 290bp over Libor.

Syndication saw Bank Mandiri and First Gulf Bank join in as lead arrangers while Bank of China, Bank of Taiwan, CBA and Bank Rakyat Indonesia came in as participants.

Proceeds are for general corporate purposes.

Singapore

Lend Lease Retail Investments 1 Pte has inked a S$330 million five-year revolving credit facility through mandated lead arrangers DBS and OCBC.

Syndication saw Bank of China and SMBC join in as participants.

Proceeds are to repay existing indebtedness.

South Korea

Hana Bank has completed a $261 million-equivalent one-year term loan on a club basis through mandated lead arrangers ANZ, Bank of America Merrill Lynch, Barclays, Citi, Commerzbank, Credit Agricole, LBBW, SMBC and Wells Fargo.

The facility is split into a $135 million tranche and a €95 million portion.

Final allocations saw ANZ and Wells Fargo provide $30 million each while Bank of America Merrill Lynch, Barclays and Citi pledge $25 apiece. Credit Agricole and LBBW lent €30 million each while Commerzbank came in with €20 million. SMBC concluded the syndicate with €15 million.

Proceeds are for refinancing purposes.

Taiwan

Bionime Corp has closed a NT$2 billion loan package through joint bookrunners Chang Hwa Commercial Bank, Taipei Fubon Commercial Bank, Taiwan Cooperative Bank.

The deal consists of a NT$1.9 billion five-year term loan and a NT$100 million three-year revolving credit.

Final allocations saw bookrunner Chang Hwa Commercial Bank hold NT$800 million while Taipei Fubon Commercial Bank and Taiwan Cooperative Bank provided NT$192 million and NT$187 million respectively. Mandated leads Shanghai Commercial Bank and Taiwan Shin Kong Commercial Bank gave NT$187 million each while participant First Commercial Bank gave NT$168 million. Cosmos Bank Taiwan, Hua Nan Commercial Bank and Taichung Commercial Bank rounded up the group with NT$93 million each.

Proceeds are for capital expenditure and working capital purposes.

Pegatron Corp has completed a NT$12 billion five-year deal via sole bookrunner Bank of Taiwan.

The financing comprises a NT$7 billion term loan and a NT$5 billion revolver.

Final allocations saw the lead take NT$3 billion, while mandated lead arrangers Chang Hwa Commercial Bank, E.Sun Commercial Bank, Mega International Commercial Bank and Taiwan Cooperative Bank contributed NT$1.7 billion each. Agricultural Bank of Taiwan and Hua Nan Commercial Bank participated with NT$800 million apiece, while both CTBC Bank and China Development Industrial Bank joined in with NT$400 million.

Proceeds are for working capital purposes.

Quanta Computer has secured a $360 million three-year financing through joint bookrunners and mandated lead arrangers Bank of China, Bank of East Asia, Bank of Taiwan, Bank of Tokyo-Mitsubishi UFJ, Chang Hwa Commercial Bank, Credit Agricole, E.Sun Commercial Bank, Land Bank of Taiwan, Mega International Commercial Bank, Mizuho Bank, SMBC and Taiwan Cooperative Bank.

The upsized facility is priced at 108bp over Libor.

Final allocation saw the leads lend $27 million each while co-arranger Hua Nan Commercial Bank provided $26 million. Participant Bank of Communications tied up the syndication with $10 million.

Proceeds are for working capital purposes.

¬ Haymarket Media Limited. All rights reserved.

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