Loan week, January 22-28

Hong Kong

Esprit Corporate Services' HK$2.6 billion five-year self-arranged fundraising was heavily oversubscribed to HK$6.5 billion and is expected to be signed in mid-February via a consortium of 13 coordinating arrangers.

The five-year term loan offers a spread of 65bp over one-, two-, three- or six-month Hibor.

The coordinating arrangers are: ANZ, Bank of America Merrill Lynch, Bank of Tokyo-Mitsubishi UFJ, BNP Paribas (Hong Kong), Chinatrust Commercial Bank, Citi, Deutsche Bank (Hong Kong), HSBC, Mizuho Corporate Bank (Hong Kong), Oversea-Chinese Banking Corp (Hong Kong), Standard Chartered Bank (Hong Kong), Sumitomo Mitsui Banking Corp and UBS AG.

Proceeds are to support Esprit China Distribution's acquisition of Glory Raise.

Sino Land's HK$8.5 billion five-year dual-tranche facility has been signed via mandated lead arrangers Bank of China (Hong Kong), Hang Seng Bank, HSBC, Industrial & Commercial Bank of China and Sumitomo Mitsui Banking Corp on a club basis.

The guaranteed transaction comprises HK$4.3 billion and HK$4.2 billion term loans. Proceeds are to support the purchase and development of a site in Tai Po, Hong Kong.

India

A $260 million 10-year term loan for Shipping Corp of India (SCI) has been launched via sole mandated lead arranger & bookrunner SBI Capital Markets.

The deal is fully underwritten by the lead and proceeds are to finance the purchase of tankers.

Malaysia

Maxis's $2 billion fundraising has been upsized from the initial $1.5 billion sought via mandated lead arrangers Bank of Nova Scotia, Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Calyon, DBS Bank, HSBC, Mizuho Corporate Bank, Natixis, Oversea-Chinese Banking Corp, Royal Bank of Scotland, Standard Chartered Bank and Sumitomo Mitsui Banking Corp.

Launching of general syndication is yet to be decided by the leads and the borrower.

Proceeds are for debt repayment purposes.

Philippines

San Miguel Brewery successfully secured a $300 million five-year club deal on January 28 via mandated lead arrangers ANZ, Bank of Tokyo Mitsubishi UFJ, Calyon, Chinatrust Commercial Bank, DBS Bank, HSBC, ING Bank, Mizuho Corporate Bank, Standard Chartered Bank and Sumitomo Mitsui Banking Corp.

The lenders each contributed $30 million and proceeds are for general corporate purposes.

Singapore

A $44 million term loan for Franklin Offshore International has been inked via United Overseas Bank, Standard Chartered Bank and RZB Bank on a club basis.

Proceeds are to repay outstanding facilities.

A $150 million transaction for Louis Dreyfus Commodities Asia and LD Commodities Australia Holdings is in the market via mandated lead arrangers and bookrunners ANZ, BNP Paribas and HSBC.

The facility comprises three-year term loans of $100 million and $50 million, which are priced at 220bp over Libor. Banks lending $30 million or above get an upfront fee of 135bp along with the mandated lead arranger title. Lead arrangers holding $20 million to $29 million take 112.5bp, while arrangers offering $10 million to $19 million earn 90bp.

There are 15 to 16 banks looking to participate in the deal and the loan amount is likely to be upsized to approximately $300 million.

Proceeds are for general corporate purposes and signing is targeted to take place in February.

South Korea

Hyundai Rotem's ¥8 billion one year, four months debt package was completed earlier this week via sole bookrunner Sumitomo Mitsui Banking Corp. ANZ, Bank of China, Industrial & Commercial Bank of China and United Overseas Bank were the mandated lead arrangers with Hana Daetoo Securities joining in as the lead arranger.

The transaction was split into ¥2 billion non-guaranteed and ¥6 billion guaranteed term loans which are priced at 2.76% p.a. and 1.46% p.a. respectively.