China
China National Offshore Oil Corp (CNOOC) successfully completed a $6 billion one-year term loan on a club basis on February 19 through mandated lead arrangers ANZ, Agricultural Bank of China, Bank of America Merrill Lynch, Bank of China, Bank of Montreal, Bank of Nova Scotia, China Construction Bank, China Development Bank, Citi, Commonwealth Bank of Australia, Credit Suisse, DBS Bank, Deutsche Bank, HSBC, ICBC, SocieteGenerale, Sovereign Bank, UBS, United Overseas Bank and Westpac.
Proceeds are to support its acquisition of a 100% stake in Nexen.
India
Bharat PetroResources has sealed a $225 million 15-year letter of credit facility through sole bookrunner and mandated lead arranger State Bank of India.
Final allocations saw participants Oriental Bank of Commerce and Bank of Baroda contribute $125 million and $100 million, respectively.
Proceeds are to secure foreign currency loans.
Mumbai Metro One has inked a Rs9.4 billion 14-year and six-month term loan through sole bookrunner and mandated lead arranger IDBI Bank.
With a grace period of 15 months, the loan will be repaid by 48 quarterly instalments.
Syndication saw Bank of Maharashtra, Canara Bank, Central Bank of India, Corporation Bank, Indian Bank and State Bank of Hyderabad join in as participants.
Proceeds are for the development and operation of the Versova-Andheri-Ghatkopar corridor of a PPP Metro project in Mumbai, India.
NTPC has secured a $250 million seven-year term loan on a club basis through mandated lead arrangers Mizuho and State Bank of India.
The single tranche facility is priced 185bp over Libor.
Final allocations saw State Bank of India lend $225 million, while Mizuho provided $25 million.
Proceeds are for capital expenditure purposes.
Rural Electrification Corp has concluded a $250 million term loan through mandated lead arrangers Bank of America Merrill Lynch and State Bank of India.
The three-year club loan is priced 145bp over Libor.
Final allocations saw State Bank of India and Bank of America Merrill Lynch lend $150 million and $100 million, respectively.
Proceeds are for on-lending to state electricity boards.
Maldives
Salt Bidco has secured a $115 million four-year and 10-month term loan through underwriters and mandated lead arrangers Deutsche Bank and HSBC.
The facility is split into a $110 million term loan and a $5 million revolver. The margin is 700bp over Libor for the first 12 months, thereafter subject to leverage grid.
The transaction has been prefunded and is currently in the market for the syndication process.
Proceeds are to support the leveraged buyout of Trans Maldivian Airways and Maldivian Air Taxi.
New Zealand
ENZA Finance has completed a NZ$60 million 10-month revolver through sole bookrunner and mandated lead arranger Bank of New Zealand.
Final allocations saw the lead and participants Rabobank and Westpac commit NZ$20 million apiece.
Proceeds are for general corporate purposes.
Taiwan
Chien Huey Industrial Corp has secured a NT$1.2 billion deal through sole bookrunner and mandated lead arranger Land Bank of Taiwan.
The loan package consists of a NT$550 million seven-year term loan and a NT$650 million three-year revolving facility.
Final allocations saw the bookrunner provide NT$400 million and arranger Taichung Commercial Bank pledged NT$225 million. Participants Agricultural Bank of Taiwan and Bank of Kaohsiung took NT$150 million and NT$110 million respectively. Shanghai Commercial & Savings Bank took NT$90 million, while Cosmos Bank, Sunny Bank and Yuanta Commercial Bank ended up with NT$75 million each.
Proceeds are to refinance an existing loan facility signed in February 2010 and for working capital purposes.
Ta Hsiang Containers Ind has inked a NT$1.3 billion five-year loan facility through sole mandated lead arranger and bookrunner Land Bank of Taiwan.
The facility is divided into two term loans of NT$850 million and NT$250 million apiece and a NT$200 million revolving credit facility.
Final allocations saw Land Bank of Taiwan give NT$390 million, while participants Agricultural Bank of Taiwan, Bank of Kaohsiung, Hua Nan Commercial Bank, Taichung Commercial Bank, Taiwan Business Bank and Yuanta Commercial Bank took NT$130 million each. Mega International Commercial Bank and Shanghai Commercial & Savings Bank rounded up the syndicate with NT$65 million apiece.
Proceeds are to repay debt,and for capital expenditure and working capital purposes.
UER Technology Corp has signed a NT$1.3 billion three-year financing through mandated lead arrangers and bookrunners Chang Hwa Commercial Bank, First Commercial Bank, and Taiwan Shin Kong Commercial Bank.
The facility is split into two terms loans of NT$625 million and NT$268 million apiece and a NT$447 million revolver.
Final allocations saw First Commercial Bank provide NT$450 million, while Chang Hwa Commercial Bank and Taiwan Shin Kong Commercial Bank contributed NT$400 million each. E Sun Commercial Bank pledged NT$150 million and Mega International Commercial Bank provided NT$140 million.
Proceeds are for refinancing, working capital and capital expenditure purposes.
