Loan Week, January 13-19

A digest of the latest loan news.

Westin AreasÆ A$80 million dual tranche term facility has been completed via sole mandated lead arranger ANZ. The financing consists of a A$70 million five year tranche æAÆ and a A$10 million four year tranche æBÆ. Signing took place on December 21.

Proceeds are to finance a project that entails the development of the Flying Fox Nickel project in Forestannia.

Sole mandated arranger ANZ closed syndication of Stadium Australia GroupÆs A$150 million financing on December 29. Proceeds are to restructure debt for the Telstra Stadium in Melbourne.

TVLÆs A$3.6 billion six year fundraising has been launched into general syndication. Credit Suisse is the mandated lead arranger. A group of 15 banks have so far committed to the facility. The signing ceremony is expected to take place at the end of January.


China Huiyuan Juice Group and China Hui Yuan Juice HoldingsÆ $70 million five year fundraising was signed on January 9. ABN Amro is the sole mandated arranger. Proceeds are for refinance existing debt and for general corporate purposes.

ABN Amro provided $9.5 million and arrangers CIMB Bank (Hong Kong), Industrial & Commercial Bank of China (Asia) and State Bank of India took $9.5 million each. Managers Hang Seng bank (Beijing) contributed $7 million and Bank of Communications (Hong Kong), Korea Development Bank (Shanghai), Mizuho Corporate Bank (Hong Kong), Oversea-Chinese Banking Corp (Hong Kong) and United Overseas Bank pledged $5 million apiece.


The $400 million term loan for ENOC Supply & Trading has been completed. A total of seven banks are participating in the transaction. Proceeds will be used for working capital purposes. National Oil Company is providing a guarantee.

Mandated arrangers Arab Bank contributed $100 million and DBS Bank and SMBC contributed $75 million apiece while lead managers Calyon and Korea Development Bank provided $50 million each. Oversea-Chinese Banking Corp took $37.5 million and DZ Bank ended up with $12.5 million.


Lafarge India PrivateÆs $130 million seven year facility has been launched into general syndication. Calyon is the mandated lead arranger and the bookrunner role is shared by Calyon and Standard Chartered.

The facility offers a margin of 50bp over Libor. Banks underwriting $20 million or more earn an underwriting fee of 5bp and a management fee of 50bp over Libor. Take-and-hold commitments of $15m receive 50bp over Libor.

Proceeds are for general corporate purposes.


Chunghwa Picture TubesÆ $600 million loan has been signed via a consortium of five banks.

The facility is split into $500 million and $100 million three year revolvers with margins of 50bp and 40bp over Libor respectively. Mandated arrangers Cathay United Bank, Chinatrust Commercial Bank and Taipei Fubon Commercial Bank held $150 million apiece, Hua Nan Commercial Bank took $100 million while lead manager Chang Hwa Commercial Bank joined in syndication with a ticket of $50 million. Proceeds are for working capital purposes.

Genesis Photronics has signed a NT$850 million multi-tranche credit via lead arrangers Hua Nan Commercial Bank and First Commercial Bank. Proceeds are for working capital purposes and debt repayment.

The deal is split into NT$398 million and NT$251 million three year term loans and a NT$201 million seven year term loan each with a margin of 100bp over the one-year post office savings rate.

Mandated arrangers First Commercial Bank and Hua Nan Commercial Bank committed NT$200 million each. A group of six banks joined in syndication û they are participants Chang Hwa Commercial Bank, Land Bank of Taiwan and Taiwan Business Bank providing NT$100 million apiece and Bowa Commercial Bank, Bank of Kaohsiung and China United Trust & Investment contributing NT$50 million each.

RESA Engineering CorpÆs NT$12.5 billion three year dual tranche financing has been signed. The transaction comprises a NT$11 billion term loan and NT$1.5 billion revolver with each tranche offering a margin of 38bp over the one-year post office savings rate.

A group of eight banks are providing the funds. They are mandated arrangers Chinatrust Commercial Bank and Taipei Fubon Commercial Bank with commitments of NT$3.1 billion apiece, co-arranger Taiwan Business Bank taking NT$2 billion, lead manager Hua Nan Commercial Bank pledging NT$1.5 billion, manager Shin Kong Commercial Bank contributing NT$1 billion and lenders Fuhwa Commercial Bank holding NT$800 million and Bank of Overseas Chinese and Union Bank of Taiwan ending up with NT$440 million each. Proceeds are to refinance existing debt.


Housing and Urban Development Corp has signed a $22.8 million facility via sole mandated arranger BNP Paribas. The 11 year financing will be used to support the construction of a new cement plant to be supplied by Chinese Supplier in Vietnam. Vietnamese Ministry of Finance is providing a guarantee.

VinacominÆs $40 million eight year financing has been launched into syndication via mandated lead arranger Calyon. Bangkok bank has so far joined the facility.

The facility offers a margin of 170bp over Sibor. Proceeds are for working capital purposes.

Mandated lead arranger Calyon has launched EVNÆs $49.2 million 10 year term loan into general syndication. Chifu Commercial Bank has also joined the facility.

The margin is 140bp over Sibor. Proceeds will be used for general corporate purposes.
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