Loan Week, January 2-8

A roundup of the latest syndicated loan market news.

China

Shanghai Nanjing Intercity Railway has obtained a Rmb17 billion 25-year term loan through sole bookrunner and mandated lead arranger Bank of China.

Final allocations saw the lead provide Rmb6.5 billion while ICBC joined in with Rmb 6.5 billion as co-lead manager. CCB contributed Rmb2 billion while China Development Bank and Export & Import Bank of China concluded the syndication with Rmb1.5 billion and Rmb500 million, respectively.

Proceeds are for new project construction.

Hong Kong

Ganymede Intermediate has obtained a $200 million credit facility on a club basis through mandated lead arrangers Cathay United Bank, CTBC Bank, ING and Mega International.

Proceeds are to support the LBO of Asia Satellite Communications by Carlyle Group.

TCL Industries Holdings (HK) has inked a $100 million three-year term loan on a club basis through mandated lead arrangers ICBC and Standard Chartered.

Margin is 200bp over Libor.

Final allocations saw ICBC commit $52 million while Standard Chartered pledged $48 million.

Proceed are for general corporate purposes.

India

Meenakshi Energy has obtained a Rs10.5 billion 13.5-year term loan through sole bookrunner and mandated lead arranger State Bank of India.

Syndication saw KPMG India joined in as co-arranger while PTC India Financial Services came in as participant.

Proceeds are to refinance existing indebtedness.

Darbhanga Motihari Transmission has completed a Rs6.1 billion 15-year term loan through sole bookrunner and mandated lead arranger IDBI Bank.

Final allocations saw the lead take Rs2 billion while India Infrastructure Finance Company held Rs1.6 billion as participant. PTC India Financial Services and Union Bank of India concluded the syndicate with Rs1.4 billion and Rs1.1 billion respectively.

Proceeds are for capital expenditure.

Taiwan

E-DA Hospital has secured a NT$1.1 billion term loan through sole bookrunner and mandated lead arranger First Commercial Bank.

The facility comprises of a NT$812 million 15-year term loan, a NT$187 million seven-year term loan and a NT$144 million seven-year term loan.

Syndication saw Mega International Commercial Bank come in as mandated lead arranger while Taiwan Business Bank joined in as lead manager.

Proceeds are for capital expenditure.

Fubon Bank (China) has sealed a $220 million-equivalent three-year team loan through bookrunners and mandated lead arrangers Bank of Taiwan and Taipei Fubon Bank.

The facility consists of a $110 million term loan and a Rmb660 million term loan.

Syndication saw Bank of Tokyo-Mitsubishi UFJ, Chang Hwa Commercial Bank, Credit Agricole, E. Sun Commercial Bank, HSBC, Hwa Nan Commercial Bank, ING Bank, Land Bank of Taiwan, Taichung Commercial Bank, Taishin International Bank, Taiwan Business Bank, Taiwan Cooperative Bank and Yuanta Commercial Bank join in as lead arrangers while Jihsun International Bank came in as participant.

Proceeds are for general corporate funding purposes.

Neo Solar Power Corp has amended a NT$2.7 billion seven-year loan facility through sole bookrunner and mandated lead arranger CTBC Bank.

The facility is split into a NT$1.7 billion term loan and a NT$1 billion revolver.

Syndication saw Chang Hua Commercial Bank, DBS, E Sun Commercial Bank, First Commercial Bank, Shanghai Commercial and Savings Bank, Taipei Fubon Commercial Bank, Taiwan Business Bank and Taiwan Cooperative Bank join in as lender.

Proceeds are to amend a facility signed May 2013.

Thailand

Thai Union Frozen Products has completed a $1.5 billion one-year and one-month bridge facility on a club basis through mandated lead arrangers Bangkok Bank and Siam Commercial Bank.

Final allocations saw the arrangers provide $755 million evenly.

Proceeds are to support the acquisition of Bumble Bee Foods.