Hexion Specialty Chemical has completed itÆs A$110 million dual tranche facility via sole mandated arranger Commonwealth Bank of Australia. The deal is split into a A$100million five year term portion, tranche æAÆ, and a A$10 million one year revolving credit tranche æBÆ.
In tranche æAÆ, Commonwealth Bank of Australia pledged A$54.5 million while lenders Bank West and St George Bank ended up with A$22.75 million apiece.
Tranche æBÆ saw Commonwealth Bank of Australia put in A$5.4 million while Bank West and St George Bank each took A$2.3 million.
Proceeds will be used for acquisition purposes.
China
Citic GroupÆs $200 million five year facility has been allocated. Mandated arranger Bank of Tokyo-Mitsubishi UFJ contributed $25 million while HSBC, ING Bank and Mizuho Corporate Bank took $24 million apiece.
Coordinating arrangers Bank of Beijing put in $20 million and NordLB lent $18 million while ANZ, Bank of China and DBS committed $15 million each.
Arranger Banca Intesa held $10 million while managers BayernLB and Public Bank ended up with $5 million apiece.
Proceeds will be used for working capital purposes and to repay existing debt.
Mandated arrangers Banc of America Securities Asia, Bank of Tokyo-Mitsubishi UFJ, Calyon, DBS Bank, HSBC, Mizuho Corporate Bank and Standard Chartered have launched Ningbo Chi Mei Optoelectronics and Nanhai Chi Mei OptoelectronicsÆ $360 million five year dual tranche loan into general syndication.
The facility includes a $180 million term loan and a Rmb1.44 billion revolver with an average life of 3.75 years. Banks have been invited to join on three tiers. Co-arrangers providing $30 million or more get 15bp for a top level all-in of 54bp over Libor; arrangers contributing $9 million to $20 million receive 11.25bp for an all-in of 53bp over Libor, and senior managers lending $10 million to $19 million earn 7.5bp for an all-in of 52bp over Libor.
Proceeds are for working capital purposes and banks have until March 8 to revert.
Hong Kong
China Gas HoldingsÆ $75 million facility has been signed via a syndicate of 12 banks. Mandated arrangers Bank of China, Bank of China (Hong Kong Branch) and Royal Bank of Scotland committed $10 million apiece.
Lead arrangers Citic Ka Wah Bank and Oversea-Chinese Banking Corp each pledged $6.75 million while Barclays Capital, Export Development Canada, Fortis Bank, Kookmin Bank, Korea Development Bank, Korea Exchange Bank and Mizuho Corporate Bank put in $4.5 million apiece.
The seven year facility has a five year put and a margin of 135bp over Libor. Lead arrangers joining this deal take a fee of 70bp.
Kingboard LaminatesÆ HK$2.8 billion term loan has been signed. The funds will be used to refinance a HK$3 billion dual tranche facility that was signed in June 2005.
Mandated arrangers Citigroup and Sumitomo Mitsui Banking Corp provided HK$250 million apiece and ABN Amro, Bank of Communications, Bank of East Asia, Bank of Tokyo-Mitsubishi UFJ, CCB International Finance, Fortis and Industrial & Commercial Bank of China contributed HK$210 million each. Lead mangers Nanyang Commercial Bank held HK$180 million, Citic Ka Wah Bank took HK$150 million, Mizuho Corporate Bank pledged HK$130 million, Bank of China (Macau) lent HK$100 million and Banco Bilbao Vizcaya Argentaria (Hong Kong) joined with a ticket of HK$70 million.
Managers Banca di Roma, Scotiabank, Shanghai Commercial & Savings Bank and Tai Fung Bank ended up with HK$50 million apiece.
The three year fundraising features a margin of 57.5bp over Hibor with an amortising repayment schedule. Banks underwriting HK$700 million earned an underwriting fee of 12bp and a management fee of 42bp. Kingboard Chemical Holdings is providing a guarantee.
India
Monnet Ispat & EnergyÆs $75 million six year facility has been launched into general syndication via mandated arrangers ABN Amro, Bank of Taiwan, CIMB, DBS Bank and State Bank of India.
The deal offers a margin of 190bp over Libor. Banks joining as lead arrangers with $7.5 million or above get 82.5bp for an all-in of 205bp over Libor. Arrangers committing $5 million or above receive 55bp for an all-in of 200bp.
Tata TeaÆs ú284.3 million facility is expected to close at the end of the month. Five banks have so far joined the deal. Bank of Scotland, State Bank of India and DBS Bank have pledged ú35 million apiece and Citibank has committed ú25 million.
Arrangers committing ú35 million or above receive an underwriting fee of 10bp and a management fee of 75bp.
Japan
An $828.2 million revolver for Tokyo Electric Power has been completed via sole mandated arranger BNP Paribas (Tokyo). The funds will be used for general corporate purposes.
WestLB (Tokyo), Citibank, Norinchukin Bank, Calyon (Tokyo), Intesa Sanapolo and Societe Generale (Tokyo) joined in syndication as participants. The signing ceremony took place on February 6.
Philippines
The signing ceremony for Globe TelecomÆs $50 million five year facility took place on February 9 in Manila. Mandated lead arrangers DBS Bank took $32 million, Calyon lent $11 million and Mega International Commercial Bank (Offshore Banking Branch) provided $11 million. Lender NordLB (Singapore Branch) ended up with $1 million.
The facility offers a margin of 43bp over Libor. Proceeds will be used to refinance part of the borrowerÆs $300 million callable bond issue maturing in 2012.
Singapore
A $40 million six year fundraising for Yakki International has been launched into general syndication. Oversea-Chinese Banking Corp is leading the deal. The loan offers a margin of 100bp over Libor. Proceeds are for working capital and acquisition purposes.
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