ABC Learning CentresÆ A$1.7 billion six month financing was signed yesterday (Thursday). Mandated arrangers Commonwealth Bank of Australia and Westpac took A$512.5 million apiece while Goldman Sachs JB Were and Bank of America (Sydney) held A$300 million each. Proceeds will be used for general corporate purposes.
Beach Petroleum and Delhi Petroleum have successfully raised A$650 million from the market. Commonwealth Bank of Australia is the sole mandated arranger and Societe Generale joined in syndication as a participant. The six month bridge facility will be used for acquisition purposes.
DCA GroupÆs A$1.4 billion multi-tranche loan has been launched into sub-underwriting via five mandated arrangers. The transaction is split into A$825 million, A$375 million and A$175 million six year term loans and a A$60 million six year revolver. CVC Asia Pacific is sponsoring the deal.
Mandated arrangers ANZ Investment Bank, Barclays Capital, Goldman Sachs JBWere, HBOS and Royal Bank of Scotland are holding A$287 million apiece. Proceeds are to support the CVC Asia Pacific-led leveraged buyout of DCA Group. Barclays Capital, Goldman Sachs JBWere and HBOS are also taking an associated subordinated note of A$300 million.
Skilled GroupÆs A$225 million dual tranche facility has been signed via sole mandated arranger National Australia Bank. The facility is split equally into one and three year revolvers. National Australia Bank and lenders ANZ Investment Bank and Westpac provided A$75 million apiece. The signing ceremony was held on December 11.
Hong Kong
Rich Day Investment and Bauhinia Hotels signed a HK$4.5 billion facility on December 14. Mandated arrangers are ABN Amro, Bank of East Asia, Calyon, Citic Ka Wah Bank, Deutsche Bank, Hang Seng Bank, Industrial and Commercial bank of China (Asia), Merrill Lynch International Bank, Oversea-Chinese Banking Corp, Standard Chartered (Hong Kong) and SMBC. Proceeds are for general corporate purposes.
India
Bajaj HindusthanÆs $80 million five year facility was signed last Friday, December 8.
Mandated lead arrangers ABN AMRO, BNP Paribas, Standard Chartered, Bank of Tokyo-Mitsubishi UFJ, DBS Bank and Rabobank held $10 million apiece. Co-arrangers, Bank of Taiwan, Cathay United bank, Chang Hwa Commercial Bank and Taipei Fubon Commercial Bank are lending $5 million apiece.
The margin is 65bp over Libor. Proceeds will be used to refinance existing debt, new projects, capital expenditure and for the modernisation and expansion of existing facilities.
Korea
Korea Exchange BankÆs $200 million dual tranche fundraising was completed on December 4. The facility is split into a $200 million one year tranche and a $100 million two year term loan with spreads of 7bp and 11.5bp over Libor respectively. Proceeds are for debt repayment and for working capital purposes.
Mandated arrangers BayernLB, Calyon, DBS Bank, HSBC (Seoul), HSH Nordbank (Singapore), Oversea-Chinese Banking Corp, SMBC (Seoul) and Standard Chartered (Hong Kong) provided $34.1 million apiece, co-arrangers Banque et Caisse dÆEpargne de IÆEtat Luxembourg and UniCredito Italiano SpA (Hong Kong) committed $10 million each while Banca Nazionale del Lavoro SpA (Hong Kong) and Toronto-Dominion Bank joined as lead managers with tickets of $5 million and $2 million respectively.
New Zealand
The NZ$150 million three year term loan for Dominion Income Property Fund has been signed. Mandated arrangers ANZ Investment Bank and ASB Bank committed NZ$75 million apiece. Proceeds are to refinance existing debt.
Foodstuffs has successfully raised NZ$180 million from the market via a group of four banks. Mandated arrangers ANZ Investment Bank held NZ$75 million, ASB Bank, Bank of New Zealand and Westpac took NZ$35 million each. Proceeds will be used to refinance existing bank facilities.
Wellington International Airport has signed a NZ$150 million three year facility on a club basis. Mandated arrangers ANZ Investment Bank and Westpac contributed NZ$60 million apiece and Bank of New Zealand took NZ$30 million. Proceeds will used to refinance existing debt and to provide for working capital requirements. Signing took place on December 1.
Philippines
NutriAsia PacificÆs $50 million multi-tranche facility has been completed via mandated lead arrangers HSBC, Calyon, Development Bank of Philippines and Banco de Oro. The facility was oversubscribed due to an overwhelming response. Signing took place on December 11.
The financing consists of a $115 million seven year revolving credit tranche æAÆ and a $50 million three year term tranche æBÆ that are both priced at 220bp over Libor.
South Korea
Hana Bank has successfully raised $250 million via a five year term loan. Mandated lead arrangers ABN Amro (Seoul), Barclays Bank, BayernLB, BNP Paribas (Seoul), Calyon, Citibank (Korea), DBS Bank, Dresdner Bank, HSH Nordbank (Singapore), Landesbank Baden-Wurttemberg (Singapore), Mizuho Corporate Bank (Seoul), Oversea-Chinese Banking Corp, Standard Chartered Bank (Hong Kong), Sumitomo Mitsui Banking Corporation and Wachovia Bank (National Association) contributed $16.6 million apiece. The facility offers a spread of 5bp over Libor. Proceeds are to refinance existing debt.
Samsung HKÆs $50 million three year term loan has been signed, with a group of three banks providing the funds. Mandated arrangers Calyon and Korea Development Bank are committing $20 million apiece and Woori Bank is lending $10 million. The margin is 3bp over Libor. Proceeds are for working capital purposes.
Spain
Cantabria Pharma signed a Ç34 million term loan on December 12. The facility is to support the acquisition of Cantabria Pharma by Wanbury. Mandated arrangers ABN Amro, Bank of India and State Bank of India pledged Ç11.3 million apiece.
Taiwan
Far Eastern Department StoresÆ NT$2.5 billion three year revolving credit facility has been completed via a group of seven banks.
Mandated lead arrangers Hua Nan Commercial Bank contributed NT$700 million while First Commercial Bank and co-arranger Sunny Bank put in NT$500 million apiece. Chang Hwa Commercial Bank, Land Bank of Taiwan, Central Trust of China and Bank of Kaohsiung held NT$300 million each.
The margin is 40bp over the secondary CP rate. Proceeds are for working capital purposes.
Gatetech TechnologyÆs NT$760 million multi-tranche facility has been completed via a group of eight banks. The financing consists of a NT$416 million five year term tranche æAÆ that is priced at 137.5bp over the primary CP rate, a NT$ 229 million five year revolving credit tranche æBÆ that carries a margin of 160bp and a NT$ 115 million five year tranche æCÆ that has a margin of 160bp.
Proceeds will be used for general corporate purposes.
Mandated lead arrangers Bank of Taiwan, Land Bank of Taiwan, China Development Industrial Bank and Industrial Bank of Taiwan have closed World Peace IndustrialÆs NT$2.5 billion revolving credit facility. A total of eight banks have joined the facility. Signing was held on December 8.
The mandated lead arrangers committed NT$400 million each. Hun Nan Commercial Bank lent NT$380 million, Mega International Commercial Bank contributed NT$250 million, Taiwan Business Bank put in NT$150 million and Cathay United Bank provided NT$120 million.
The margin is 55bp over the secondary CP rate and the commitment fee is 15bp. Proceeds are for debt repayment and for working capital.
¬ Haymarket Media Limited. All rights reserved.
