Loan Week, August 8-14

A roundup of the latest syndicated loan market news.

Australia

Viva Energy Holding has secured a $2.1 billion term loan through bookrunners and mandated lead arrangers ANZ, Bank of America Merrill Lynch, Bank of Tokyo-Mitsubishi UFJ, First Gulf Bank, HSBC, NAB, National Bank of Abu Dhabi, Natixis, Standard Chartered and UOB.

The facility is split into a $1.3 billion two-year tranche and a $750 million five-year portion.

Final allocations saw the leads contribute $125 million each while mandated leads BNP Paribas, Citi, DBS, Deutsche Bank, Mizuho, OCBC, Societe Generale and SMBC provided $100 million each.

Proceeds are to repay existing indebtedness and to support the acquisition of refinery and petrol stations.

China

Asia Cement (China) has completed a $300 million five-year term loan through sole bookrunner and mandated lead arranger Bank of Taiwan.

Syndication saw DBS, First Commercial Bank, Land Bank of Taiwan, Standard Chartered, SMBC and UOB come in as mandated lead arrangers while ANZ, Chang Hwa Commercial Bank and Taiwan Cooperative Bank joined in as participants.

Proceeds are to support the acquisition of Sichuan Yadong Cement.

Chinatex Corp has completed a $200 million three-year term loan on a club basis through mandated lead arrangers ANZ, Commonwealth Bank of Australia, DBS, HSBC, ING, NAB, Rabobank and Westpac.

Final allocations saw the arrangers provide $25 million each.

Proceeds are to refinance an existing facility signed in Nov 2011.

Chongqing Medicines has obtained a Rmb600 million three-year revolver through bookrunners and mandated lead arrangers Hang Seng Bank and HSBC.

The facility is priced at 104% of the PBOC rate.

Final allocations saw HSBC pledge Rmb180 million while Hang Seng Bank took Rmb170 million. Chang Hwa Commercial Bank joined in with Rmb150 million as mandated lead arranger while Taiwan Cooperative Bank Rmb100 million.

Proceeds are for general corporate purposes.

Toyota Motor Finance (China) has inked a Rmb1.4 billion term loan on a club basis through mandated lead arrangers Citi, Commerzbank, DBS, HSBC and Standard Chartered.

The debt package comprises a Rmb200 million three-year tranche and a Rmb1.2 billion five-year portion.

Proceeds are for working capital purposes.

Hong Kong

GF Holdings has obtained a HK$1.1 billion three-year term loan through joint bookrunners and mandated lead arrangers Bank of China and HSBC.

Syndication saw China Everbright Bank join in as mandated lead arranger while Chang Hwa Commercial Bank, Chong Hing Bank, Hang Seng Bank, ICBC and Taishin International Bank came in as lead arrangers. China Construction Bank and Hua Nan Commercial Bank concluded the syndicate as arrangers.

Proceeds are for working capital purposes.

IFC Development Corp Finance has inked a HK$10 billion five-year term loan through joint bookrunners and mandated lead arrangers Bank of China, Bank of Tokyo-Mitsubishi UFJ, Credit Agricole, HSBC, ING, Mizuho, National Bank of Abu Dhabi, RBS, SMBC, UOB.

The guarantor for the facility is IFC Development.

Syndication saw China Construction Bank, DBS, OCBC and Bank of Nova Scotia join in as mandated lead arrangers while Mega International Commercial Bank came in as arranger.

Proceeds are to refinance an existing facility signed in February 2012.

India

Jhabua Power successfully completed a Rs27.3 billion 12-year term loan through sole bookrunner and mandated lead arranger AXIS Bank.

The loan package is fully underwritten by AXIS Bank.

Syndication saw Bank of India, Corporation Bank, Life Insurance Corp of India, Oriental Bank of Commerce, Power Finance Corp, Punjab National Bank, Rural Electrification Corp, State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of India, State Bank of Mysore, State Bank of Patiala, State Bank of Travancore, UCO Bank, Union Bank of India and United Bank of India join in as participants.

Proceeds are to support the set-up of a coal-based thermal power plant with a capacity of 600MW at Seoni, Madhya Pradesh and general corporate purposes.

Philippines

SM Prime has secured a $300 million five-year term loan through joint bookrunners Bank of Tokyo-Mitsubishi UFJ, CTBC Bank, HSBC, ING, Mizuho, Standard Chartered and SMBC on a club basis.

The loan package is split into a $200 million portion and a $100 million tranche, and is fully underwritten by Standard Chartered.

Final allocations saw Bank of Tokyo-Mitsubishi UFJ Ltd and SMBC lend $55 million each while HSBC and Mizuho Bank provided $50 million each. CTBC Bank, ING, Standard Chartered each contributed $30 million.

Proceeds are for general corporate and working capital purposes.

South Korea

Hana Bank has secured a $426 million-equivalent two-year term loan on a club basis through mandated lead arrangers BNP Paribas, Bank of America Merrill Lynch, Barclays, Citi, Commerzbank, Credit Agricole, HSBC, JP Morgan, LBBW, RBS, Standard Chartered and Zurcher Kantonalbank.

The facility is split into a $345 million tranche and a €60 million portion.

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

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