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.
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