Sonic HealthcareÆs A$500 million six-month bridge facility was signed on January 3 on a club basis. Citibank and Commonwealth Bank of Australia arranged this deal and committed A$250 million apiece. Proceeds are for acquisition purposes.
China
Societe Generale has won the mandate for Nanjing Tanker CorpÆs $108 million ten year ship financing. Proceeds will be used for the purchase of tankers. The deal is expected to be launched in early February.
Hong Kong
China Gas HoldingsÆ $75 million financing has been launched into general syndication via sole mandated arranger RBS. The deal is split into $50 million and $25 million facilities. Proceeds are to refinance existing debt and for general corporate purposes. Banks have until January 29 to revert.
Victory City has launched its HK$1 billion five year financing via mandated lead arranger HSBC. Arrangers lending HK$80 million and above earn a management fee of 65bp, senior arrangers committing HK$50 million-HK$79 million get 60bp and managers providing HK$40 million-HK$59 million receive 55bp. The deal is expected to close in early February.
India
Essar Oilfield has mandated ICICI bank to arrange a $150 million facility. The loan has a tenor of 4.75 years.
The margin is 170bp over Libor in the first year that steps up to 200bp in the second year and then to 550bp in the third year. Proceeds are to finance a sub-rig. Essar Global, the parent company, is providing a guarantee.
ABN Amro, Bank of Tokyo-Mitsubishi UFJ, DBS Bank, and Mizuho Corporate Bank have launched Jindal Steel & PowerÆs $100 million equivalent yen financing into general syndication. The five year loan carries a margin of 100bp over Libor. Arrangers lending $10 million to $15 million get 95bp, co-arrangers committing $5 million to $10 million earn 85bp and lead managers providing $3 million to $5 million receive 75bp. The deadline for banks to respond is January 29. Proceeds are for working capital purposes.
Matrix Laboratories has signed a Ç185 million dual tranche financing via mandated arrangers ABN Amro (Singapore) and Rabobank (Singapore). A group of 14 banks are providing the funds. The facility is split equally into three year and seven month tranches.
Rabobank committed Ç20 million and ABN Amro took Ç14 million while arrangers Fortis Bank (Belgium) and ING (Belgium) held Ç18 million apiece. Managers Bank of Baroda (Ras Al Khaimah) pledged Ç22 million, Bank of Baroda (London) provided Ç21.8 million, Banca di Roma S.p.A. (Singapore) took Ç17.5 and CIMB lent Ç7.5 million. Lead managers State Bank of India (Antwerp) contributed Ç11 million, International Commercial Bank of China committed Ç9 million, Chang Hwa Commercial Bank (London) and Chiao Tung Bank (Singapore) held Ç8 million each and First Commercial Bank (Singapore) and Indian Bank (Singapore) ended up with Ç5 million apiece.
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