Loan Week

Loan Week, December 30-January 5

A roundup of the latest syndicated loan market news.

Australia

Colonial Finance has signed a A$315 million three-year term loan through bookrunners and mandated lead arrangers Commonwealth Bank of Australia, Citi, HSBC and Mizuho Corporate Bank.

Final allocations saw HSBC commit A$100 million while Citi and Mizuho Corporate Bank provided $75 million each. Bank of China joined in as a mandated lead arranger with A$25 million while arrangers Bank of Taiwan and Chang Hwa Commercial Bank took A$10 million each. First Commercial Bank, Jih Sun International Bank, Taiwan Cooperative Bank and Taishin International Bank ended up in with A$5 million respectively.

Proceeds are for refinancing and general corporate purposes.

Plenary Health Finance’s A$940 million 10-year term loan has been launched into general syndication through sole bookrunner National Australia Bank.

Bank of Tokyo-Mitsubishi UFJ, BOS International, Care Super, Export Development Canada, HEST Australia, Industry Funds Management, Mizuho Corporate Bank and United Overseas Bank already joined in at the top as mandated lead arrangers.

Proceeds are for the construction of a new cancer facility in Melbourne.

 


China

Changsha No.1 Subway’s Rmb9.2 billion 30-year term loan was completed last week through joint bookrunners and mandated lead arrangers Bank of China and China Development Bank.

Final allocations saw China Development Bank and Bank of China commit Rmb3.8 billion and Rmb2.6 billion respectively while participant Export-Import Bank of China gave Rmb1.6 billion. Agricultural Bank of China contributed Rmb1 billion while Bank of Communications joined in with Rmb200 million.

Changsha Railway Traffic acted as the guarantor of the facility. Proceeds are for project financing purposes.

Zhujiang New City has obtained a Rmb1.5 billion 12-year term loan last Thursday (December 29) through sole bookrunner and mandated lead arranger Bank of China.

Final allocations saw the lead take Rmb500 million while participants Agricultural Bank of China and China Construction Bank committed Rmb300 million each. Guangzhou Rural Commercial Bank and Bank of Communications provided Rmb200 million each.

Proceeds are for the development of Guangzhou International Finance Center.

 


Hong Kong

Fortune Real Estate Investment Trust is in the market with a HK$1.4 billion three-year facility through ANZ, DBS and Standard Chartered.

The facility is split into a HK$1.1 billion term loan and a HK$300 million revolver, which are priced at 200bp over Hibor.

Proceeds are for the acquisition of two retail properties in Hong Kong.

 


Indonesia

Perusahaan Listrik Negara (PLN) has signed a Rp7 trillion 10-year club term loan through mandated lead arrangers Bank Central Asia, Bank Mandiri and Bank Rakyat Indonesia.

The financing is priced at 342bp over three-month average time deposit rate.

Final allocations saw Bank Mandiri commit Rp3 trillion while Bank Central Asia and Bank Rakyat Indonesia join in with Rp2 trillion each.

Proceeds are for capital expenditure purposes.

 


South Korea

Seoul Northern Highway has secured a W1.5 trillion multi-tranche project financing through sole bookrunner and mandated lead arranger Korea Development Bank.

The facility is split into four 22-year term loans of W690 billion, W230 billion, W290 billion and W70 billion; a W30 billion seven-year revolver; and a W143.9 billion 29.5-year subordinated facility.

Syndication saw a total of 17 financial institutions participate in the facility.

Proceeds are for the construction of a highway in South Korea.

 


Taiwan

Jong Shyn Shipbuilding has signed a NT$1.2 billion five-year facility through joint bookrunners and mandated lead arrangers Taichung Commercial Bank, Taiwan Business Bank, and Taiwan Cooperative Bank.

Final allocations saw the leads take NT$215 million each while participants Agricultural Bank of Taiwan pledged NT$140 million. Hua Nan Commercial Bank contributed NT$110m while Shanghai Commercial & Savings Bank provided NT$75 million. Bank of Kaohsiung, Bank SinoPac, Chang Hwa Commercial Bank and Cosmos Bank Taiwan came in with NT$65 million each.

Proceeds are for general corporate purposes.

Wisdom Marine Lines has secured a ¥20 billion-equivalent eight-year six-month term loan through sole bookrunner and mandated lead arranger Taiwan Cooperative Bank.

The dual-currency facility, which is split into a ¥17 billion tranche and a ¥2 billion portion, features a margin of 120bp over Libor for US dollars and over Tibor for yen.

Syndication saw First Commercial Bank join in as an arranger while Bank of Taiwan, Bank of Kaohsiung, Hua Nan Commercial Bank and Taiwan Business Bank came in as participants.

Proceeds are to fund the purchase of bulk ships.

 


Vietnam

An Khanh Electricity has successfully closed a $143 million 10-year credit facility through sole bookrunner and mandated lead arranger Bank of China.

Syndication saw Bank of Communications, China Construction Bank and Export-Import Bank of China come in as participants.

Proceeds are for the construction of a 100MW thermal power plant.

¬ Haymarket Media Limited. All rights reserved.

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