Loan Week, February 28-March 6

A roundup of the latest syndicated loan market news.


Beijing Sanlitun North Property Management and Beijing Sanlitun South Property Management have inked a Rmb2.4 billion three-year term loan through mandated lead arrangers BNP Paribas, HSBC and Standard Chartered Bank.

The debt package is split evenly into two tranches.

Final allocations saw HSBC and Standard Chartered pledge Rmb557 million each while BNP Paribas lent Rmb467 million. Arrangers Hang Sang Bank and OCBC joined in with Rmb226 million and Rmb181 million, respectively. Bank of Tokyo-Mitsubishi UFJ, Credit Agricole, DBS, Mizuho and SMBC concluded the syndicate with Rmb90 million apiece.

Proceeds are to refinance an existing Rmb2.7 billion loan signed in March 2011.

Sanying Packaging (Jiangsu) has completed a $20 million five-year credit facility through sole bookrunner CTBC Bank.

The facility comprises a $5 million term loan and a $15 million L/C facility.

Final allocations saw the lead provide $10 million while participants E.Sun Commercial Bank and Taiwan Business Bank rounded off the group with $5 million apiece.

Proceeds are for working capital and capital expenditure purposes.


Indian Oil Corp successfully completed a $500 million three-year term loan on Monday (March 3) through underwriters and mandated lead arrangers Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, DBS, Deutsche Bank, Mizuho, RBS, State Bank of India, SMBC and Westpac.

Syndication saw Abu Dhabi Commercial Bank, BBK BSC, Mega International Commercial Bank, Siemens Bank and Societe Generale join in as lead arrangers while Aozora Bank, Gunma Bank and Chang Hwa Commercial Bank came in as arrangers. Bank Mandiri (Persero) joined in as lead manager.

Proceeds are for general corporate purposes.

Essel Vidyut Vitaran Muzaffarpur has sealed a Rs1.3 billion debt package though sole bookrunner State Bank of India.

The financing comprises a Rs740 million 13-year term loan and two one-year tranches with Rs100 million and Rs415 million, respectively.

Final allocations saw participant Canara Bank provide Rs1.1 billion while India Infrastructure Finance lent Rs200 million.

Proceeds are to support the construction of an electricity distribution network.

Maithon Power has obtained a Rs36.3 billion loan package through sole bookrunner and mandated lead arranger State Bank of India.

The facility consists of a Rs32.3 billion seven-year and nine-month term loan, a Rs2.6 billion 12-year tranche and a Rs1.4 billion 12-year portion.

Syndication saw Allahabad Bank, Central Bank of India, Corporation Bank, Dena Bank, HDFC Bank, Jammu & Kashmir Bank, L&T Infrastructure Finance, Punjab National Bank, State Bank of Bikaner & Jaipur, State Bank of Mysore, Tamilnad Mercantile Bank and Union Bank of India join in as participants.

Proceeds are to refinance a loan facility signed in February 2008 and for capital expenditure purposes.

Sindhanur Gangavathi Tollway has concluded a Rs1.8 billion 16-year term loan through sole bookrunner IDBI Bank.

GKC Projects was the guarantor of the facility.

Syndication saw Canara Bank, India Infrastructure Finance and Syndicate Bank join in at lower tiers.

Proceeds are to support a tollroad development project in India.

New Zealand

Turners & Growers has secured a NZ$200 million revolver through sole bookrunner and mandated lead arranger Bank of New Zealand.

The facility is split into a NZ$100 million tranche and a NZ$30 million portion with a three-year tenor, and a NZ$70 million nine-month portion.

Final allocations saw the lead provide NZ$100 million while Rabobank came in with NZ$100 million as joint lead arranger.

Proceeds are for general corporate purposes.


Kuo Toong International has secured a NT$1.6 billion multi-tranche fundraising through joint bookrunners Bank of Taiwan, First Commercial Bank, Mega International Commercial Bank and Taiwan Cooperative Bank.

The financing is split into a NT$220 million 2.5-year guarantee facility, a NT$930 million 2.5-year guarantee tranche and a NT$430 million two-year term loan.

Syndication saw Agricultural Bank of Taiwan, Taichung Commercial Bank and Taipei Fubon Commercial Bank join in as participants.

Proceeds are for performance guarantee, advance payment guarantee and working capital purposes.

LG Display Taiwan has closed a $450 million one-year revolver through sole bookrunner Taishin International Bank.

Final allocations saw the lead come in with $270 million while participants Bank SinoPac, Far Eastern International Bank and Ta Chong Bank gave $50 million each. China Development Industrial Bank rounded up the syndication with $30 million.

Proceeds are to refinance an existing loan facility signed in March 2013 and for working capital purposes.

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