Loan Week, August 23-29

A roundup of the latest syndicated loan market news.

Australia

Acorn FM Trusco has secured a A$360 million three-year revolver through joint bookrunners NAB and Westpac.

Syndication saw Aozora Bank, Challenger Life, First Commercial Bank, H.E.S.T. Australia and RBC join in as participants.

Proceeds are for general corporate purposes.

Greensborough Hold TC has closed a A$234 million four-year deal through sole bookrunner Westpac.

The financing is split into a A$24 million revolver and a A$210 million term loan.

Syndication saw Deutsche Bank join in as participant.

Proceeds are for property acquisition purposes.

Hong Kong

K Wah Financial Services has sealed a HK$3.3 billion loan package through bookrunners Bank of China, Hang Seng Bank and HSBC.

The deal is evenly split into a revolver and a term loan.

Syndication saw Bank of Communications, ICBC, Shanghai Pudong Development Bank, SMBC and Wing Hang Bank join in as mandated lead arrangers, while Bank of East Asia, Fubon Bank (Hong Kong), Mega International Commercial Bank, Mizuho Bank, Shanghai Commercial & Savings Bank and Taipei Fubon Commercial Bank came in at lower tiers.

Proceeds are for working capital purposes.

Shangri-La Asia Treasury has secured a $130 million five-year loan package through sole bookrunner and mandated lead arranger Bank of Tokyo-Mitsubishi UFJ.

The facility is evenly divided into a term loan and a revolving credit facility.

Final allocations saw the lead take $65 million while lead arrangers Wing Hang Bank and E.Sun Commercial Bank provided $25 million and $20 million respectively. Arrangers Hua Nan Commercial Bank and Mega International Commercial Bank came in with $10 million each to complete the syndication.

Proceeds are for general corporate purposes.

India

Gulf Petrochem India has inked a Rs2.5 billion eight-year and three-month term loan through sole bookrunner and mandated lead arranger ICICI Bank.

Final allocations saw ICICI Bank contribute Rs1.2 billion while participants Export-Import Bank of India and Vijaya Bank join in with Rs750 million and Rs500 million respectively.

Proceeds are for the construction of 48 tanks for warehousing of petroleum, oil and lubes.

RAS Infraport has sealed a Rs2 billion 15-year term loan through sole bookrunner ICICI Bank.

Final allocations saw the lead provide Rs1.5 billion while participant Small Industries Development Bank of India lent Rs500 million.

Proceeds are to support the development of a cargo port with capacity of 6 million tonnes per year.

Japan

Sky Castle Leasing has signed a Y7.6 billion 13-year financing through sole bookrunner and mandated lead arranger CACIB.

Syndication saw Norinchukin Bank join in as participant.

Proceeds are for aircraft financing purposes.

Taiwan

Cobra King Industry has concluded a NT$400 million five-year financing through sole bookrunner First Commercial Bank.

The deal is split into a NT$250 million term loan and a NT$150 million revolving credit.

Final allocations saw the lead give NT$184 million, while Agricultural Bank of Taiwan, CTBC Bank, Chang Hwa Commercial Bank, Mega International Commercial Bank, Taichung Commercial Bank and Taiwan Cooperative Bank joined in as participants with NT$36 million each.

Proceeds are to refinance an existing loan facility signed in August 2010.

Da Meng Development has completed a NT$5 billion loan package through bookrunners Bank of Taiwan, First Commercial Bank, Land Bank of Taiwan, Mega International Commercial Bank and Taiwan Business Bank.

The facility consists of a NT$3.9 billion 15-year term loan, a NT$1 billion 12-year portion and another NT$80 million 15-year guarantee facility.

Final allocations saw Land Bank of Taiwan take NT$1.6 billion, while First Commercial Bank, Mega International Commercial Bank and Taiwan Business Bank contributed NT$750 million each. Bank of Taiwan pledged NT$450 million, while participants Agricultural Bank of Taiwan and Hua Nan Commercial Bank both provided NT$250 million apiece. Chang Hwa Commercial Bank and Taiwan Shin Kong Commercial Bank rounded up the group with NT$150 million each.

Proceeds are to support a hotel and shopping mall build-operate-transfer project in New Taipei City's Banqiao, Taiwan.

Vietnam

Hansol Vietnam has completed a $40 million five-year financing through sole bookrunner and mandated lead arranger Korea Development Bank.

The single tranche facility pays a fixed rate of 3.80% per annum.

Final allocations saw the lead pledge $30 million while participant NH Nonghyup Bank join in with $10 million.

Proceeds are for the construction of manufacturing facility.

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