Loan Week

Loan Week, February 22-28

A roundup of the latest syndicated loan market news.


Tatts Group has completed a A$480 million revolver on a club basis through mandated lead arrangers ANZ, Commonwealth Bank of Australia, NAB and Westpac.

The debt package comprises a A$180 million three-year-and-five-month tranche and a A$300 million five-year-and-five-month portion.

Final allocations saw the lenders provide A$120 million each.

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


Hong Kong

Modern Terminals Finance has inked a HK$1.6 billion one-year bridge facility through mandated lead arrangers HSBC and Standard Chartered.

Final allocations saw the leads and participants Bank of Tokyo-Mitsubishi UFJ and Mizuho contribute HK$400 million each.

Proceeds are for refinancing purposes.



ECOM Agroindustrial Asia successfully launched a $300 million 364-day revolving credit facility in the market on Tuesday (February 26) through mandated lead arrangers DBS and Standard Chartered.

The borrower will be hosting a bank meeting on March 5th 2013.

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

Parkway Pantai has secured a S$750 million five-year financing on a club basis through mandated lead arrangers DBS, Maybank, OCBC, Standard Chartered and United Overseas Bank.

The facility is split into a S$500 million term loan and a S$250 million revolver.

Proceeds are to refinance existing indebtedness.


South Korea

Songwon Industrial has signed a W220 billion three-year debt package through bookrunner Korea Exchange Bank.

The facility comprises a W170 billion term loan and a W50 billion revolver.

Final allocations saw Korea Exchange Bank pledge W80 billion while mandated lead arranger Woori Bank took W70 billion. Participant Hana Bank joined in with W30 billion while Busan Bank and Standard Chartered came in with W20 billion each.

Proceeds are to repay debt.



Harmony Funding has sealed a $45 million seven-year loan package through bookrunner Chinatrust Commercial Bank.

Guaranteed by AerCap Holdings, the facility is split into two even term loans.

Final allocations saw the lead and mandated lead arranger Taishin International Bank provide $15 million each. Arrangers Chailease Finance and Taichung Commercial Bank contributed $10 million and $5 million, respectively.

Proceeds are for aircraft financing purposes.

Labixiaoxin Snacks Group has completed a $75 million three-year term loan through bookrunners and mandated lead arrangers CITIC, China Development Industrial Bank, Deutsche Bank and Taishin International Bank.

The oversubscribed facility is priced at 350bp over Libor.

Syndication saw Bank of East Asia, Bank of Sinopac and EnTie Commercial Bank come in as mandated lead arrangers while Banca Monte dei Paschi di Siena, Bank of Taiwan, Chailease Finance, Chang Hwa Commercial Bank, Chinatrust Commercial Bank, First Commercial Bank, Shanghai Commercial & Savings Bank, Taichung Commercial Bank, Taiwan Cooperative Bank and Wing Lung Bank joined in as arrangers.

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

Pao Lu Development Construction has secured a NT$4 billion four-year term loan through sole bookrunner and mandated lead arranger Bank of Taiwan.

The facility is split into a NT$1.2 billion tranche and a NT$2.8 billion portion, and priced at 162.5bp and 187.5bp over the two-year Taiwan Postal Rate, respectively.

Final allocations saw the lead provide NT$1.6 billion while participant Taiwan Business Bank came in with NT$1.1 billion. Participants Hua Nan Commercial Bank and Mega International Commercial Bank took NT$370 million and NT$290 million, respectively. Participants Agricultural Bank of Taiwan, Taichung Commercial Bank and Taipei Fubon Commercial Bank concluded with NT$220 million each.

Proceeds are for capital expenditure purposes.

Uniflex Technology has obtained a NT$1.2 billion three-year financing through bookrunners and mandated lead arrangers Bank of Taiwan and Ta Chong Commercial Bank.

The deal is divided into a NT$190 million revolver/term loan and a NT$1 billion-equivalent NT$/US$ dual-currency revolving credit.

Final allocations saw the leads and mandated lead arranger DBS provide NT$187 million each. Participants E.Sun Bank, Industrial Bank of Taiwan, Jih Sun Bank and Taipei Fubon Bank contributed NT$93 million each while Mega International Commercial Bank pledged NT$70 million. Taiwan Cooperative Bank took NT$56 million while Far Eastern International Bank, Hua Nan Bank and Shin Kong Bank rounded up the group with NT$47 million each.

Proceeds are to refinance an existing loan facility signed on 24 Dec 2008 and for general corporate purposes.

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