Loan Week, January 16-22

A roundup of the latest syndicated loan market news.

Hong Kong

Hong Kong Broadband Network has secured a HK$4.5 billion five-year financing through mandated lead arrangers Bank of East Asia, Bank of Taiwan, BNP Paribas, Cathay United Bank, Credit Agricole, Hang Seng Bank, JPMorgan Chase Bank, Mega International Commercial Bank, Natixis and Taipei Fubon Commercial Bank on a club basis.

The transaction is split into a HK$3.1 billion term loan, a HK$1.1 billion term loan and a HK$200 million revolver.

Final allocations saw the mandated lead arrangers hold HK$446 million each.

Proceeds are for refinancing, recapitalization, and general corporate purpose.

Hong Kong

Sun Hung Kai Properties (Financial Services) has obtained a HK$10 billion five-year facility on a club basis through mandated lead arrangers Bank of China, Bank of Communications, Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Citi, Credit Agricole, Hang Seng Bank, HSBC, Mizuho, OCBC, SMBC and UOB.

The facility is equally split into a revolver and term loan.

Proceeds are for general corporate purposes.

India

Jubilant Generics has signed a Rs3 billion five-year term loan through sole bookrunner and mandated lead arranger Yes Bank.

Final allocation saw the lead Rs700 million while Indian Bank provided Rs1.5 billion. IDBI concluded syndicate with Rs800 million.

Proceeds are for capital expenditure purposes.

Philippines

Citra Central Expressway Corp has inked a PHP31 billion 12-year term loan through bookrunners and mandated lead arrangers BDO Capital & Investment Corp, PNB Capital and Investment Corp and Standard Chartered.

Syndication saw Asia United Bank, China Banking Corp, EastWest Banking Corp, Rizal Commercial Banking Corp and United Coconut Planters Bank join in as joint lead arrangers. Bank of Commerce and SB Capital Investment Corp concluded the syndicate as co-lead arrangers.

Proceeds are for capital expenditure purposes.

Singapore

Hafnia Tankers Shipholding Singapore has obtained a $237 million seven-year loan package through mandated lead arrangers Danske Bank, DNB Bank, HSH Nordbank, ING, Nordea Bank, Skandinaviska Enskilda Banken and Swedbank on a club basis.

The credit comprises of a $111 million revolver and a $126 million term loan.

Final allocations saw Danske Bank, DNB Bank, Nordea Bank and Skandinaviska Enskilda Banken contributed $37 million each while HSH Nordbank, ING and Swedbank held $30 million apiece.

Proceeds are for shipping purposes.

Taiwan

Chang Chuen Investment, Huei Hong Investment and Yi Tai Investment have sealed a NT$15 billion three-year revolver through joint bookrunners and mandated lead arrangers Bank of Taiwan, E Sun Commercial Bank, Mega International Commercial Bank and Taishin International Commercial Bank.

The facility is priced at 93bp over three-month Taibor.

Syndication saw CTBC join in as manager while Bank SinoPac, First Commercial Bank and Taipei Fubon Commercial Bank came in as participant.

Proceeds are for refinancing and investment funding purposes.

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