Loan Week

Loan Week, December 7-13

A roundup of the latest syndicated loan market news.

India


Chartered Hotel has obtained a Rs1.2 billion 11-year-and-six-month term loan through mandated lead arranger Kotak Mahindra Bank.

Final allocations saw participants Andhra Bank and Cooperation Bank join in with Rs420 million each while Indian Overseas Bank provided Rs336 million.

Proceeds are for the construction of a 195-room five-star hotel in Vibhuti, Uttar Pradesh, India.

IOT Utkal Energy Services has secured a Rs2 billion financing through mandated arranger State Bank of India.

The single tranche one-year facility is priced at 225bp over the State Bank of India base rate.

Final allocations saw participant Bank of Maharashtra as the sole provider.

Proceeds are for the development of crude oil and finished project storage and handling facility located at Paradip, India.

 

Japan


Synnex Infotec Corp has inked a ¥14 billion three-year facility through sole bookrunner and mandated lead arranger RBS.

The facility is split into a ¥6 billion term loan and an ¥8 billion revolver.

Final allocations saw RBS contribute ¥3 billion while mandated lead arrangers Aozora Bank and SMBC provided ¥3 billion each. Lead arranger Chinatrust Commercial bank lent ¥1.5 billion while Bank of Tokyo-Mitsubishi UFJ, Mizuho and Tokyo Star Bank committed ¥1 billion each. Arranger Bank of Taiwan rounded up the syndicate with ¥500 million.

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

 

Singapore


April Fine Paper Holdings has completed a $120 million three-year revolver through bookrunners and mandated lead arrangers ABN Amro and China Citic Bank International.

Final allocations saw ABN AMRO Bank commit $33 million while China Citic Bank International pledged $21 million. Arrangers Bank of Tokyo-Mitsubishi UFJ, Cathay United Bank, ICBC (Asia) and Raiffeisen Bank International took $17 million each.

Proceeds are for general corporate purposes, capital expenditure and working capital purposes.

Mercuria Energy Trading has secured a $700 million revolver through bookrunners and mandated lead arrangers ANZ, BNP Paribas, DBS, First Gulf Bank, HSBC, ICBC, ING, RBS, Societe Generale, Standard Chartered and SMBC.

The facility is split into a $505 million 364-day tranche and a $195 million three-year portion.

Syndication saw Bank of China, Emirates NBD and Rabobank join in as mandated lead arrangers while Arab Petroleum Investments Corp, Bank of Baroda, Bank of East Asia, Commonwealth Bank of Australia, Indian Overseas Bank, United Overseas Bank and Westpac came in as lead arrangers. Bank of Tokyo-Mitsubishi UFJ, Banco Do Brasil, British Arab Commercial Bank, J.P. Morgan, Qatar National Bank, Raiffeisen Bank International and Zenith Bank joined in as arrangers. 14 other banks came in at lower tiers.

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

Millenia Tower Investments has obtained a S$325 million three-year financing on a club basis through mandated lead arrangers DBS, Malayan Banking Berhad, OCBC and SMBC.

The debt package comprises a S$90 million transferrable loan and a S$235 million revolver.

Proceeds are to refinance existing indebtedness and for working capital requirements.

 

South Korea


Hyundai Motor Manufacturing Czech has secured a €100 million term loan on a club-basis through mandated lead arrangers Bank of Tokyo-Mitsubishi UFJ, Mizuho and SMBC.

Proceeds are for working capital purpose.

 

Taiwan


Long Lin Construction has inked a NT$950 million three-year financing through sole bookrunner and mandated lead arranger Land Bank of Taiwan.

Guaranteed by Shan Yan Construction, the facility is priced at 153bp over the one-year average saving rate of Bank of Taiwan, Chang Hwa Commercial Bank, First Commercial Bank, Hua Nan Commercial Bank, Land bank of Taiwan and Taiwan Cooperative Bank.

Final allocations saw the lead give NT$450 million while co-arranger Taishin International Bank and participant Agricultural Bank of Taiwan lent NT$300 million and NT$200 million, respectively.

Proceeds are for land purchase purposes.

World Peace Industrial has completed a NT$3.6 billion three-year loan facility through bookrunners and mandated lead arrangers Bank of Taiwan, E.Sun Commercial Bank and Taipei Fubon Commercial Bank.

The debt package consists of a NT$3.6 billion revolver and a $120 million portion, and has a maximum drawdown limit of NT$3.6 billion.

Final allocations saw the leads take NT$670 million each while mandated lead arranger Land Bank of Taiwan pledged NT$450 million. Participants Taiwan Cooperative Commercial Bank, Hua Nan Commercial Bank, Mega International Commercial Bank and Chang Hwa Commercial Bank came in with NT$360 million, NT$300 million, NT$280 million and NT$200 million, respectively.

Proceeds are for refinancing and working capital purposes.

Yamasa Container 2003HK Kumiai has secured a $104 million 12-year-and-six-month term loan through bookrunners and mandated lead arrangers Chinatrust Commercial Bank and Mega International Commercial Bank.

Final allocations saw Mega International Bank lend $64 million while Chinatrust Commercial Bank provided $25 million while participant Chang Hwa Commercial Bank pledged $15 million.

Proceeds are for ship purchase and capital expenditure purposes.

¬ Haymarket Media Limited. All rights reserved.

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