Loan Week, January 24-30

A roundup of the latest syndicated loan market news.

Australia

Regis Aged Care has signed an A$370 million three-year revolving credit through sole bookrunner ANZ.

Final allocations saw the lead pledge A$295 million while participant Bank of Melbourne contributed A$75 million.

Proceeds are to refinance an existing facility signed in December 2011 and for future acquisition purposes.

China

Bosideng International Holdings has sealed a $220 million three-year term loan via sole bookrunner Standard Chartered Bank.

The facility is fully underwritten by Standard Chartered Bank.

Syndication saw Bank of China come in as mandated lead while 11 different banks joined in at lower tiers.

Proceeds are for debt repayment and for working capital purposes.

Century Holding and Shanghai Hongjia Real Estate Development have secured a $247 million-equivalent term loan through joint bookrunners BNP Paribas, Credit Agricole and CTBC Bank.

The facility is split into a $185 million tranche and a Rmb380 million portion.

Syndication saw ING join as mandated lead while Bank SinoPac, Chang Hwa Commercial Bank, Far Eastern International Bank, Ta Chong Bank, Taishin International Ban and Taiwan Cooperative Bank rounded up the group at lower tiers.

Proceeds will go towards refinance existing debt.

Ninghai Hengsheng Construction has obtained a Rmb650 million term loan through mandated lead arranger Industrial & Commercial Bank of China.

Syndication saw China Merchants Bank and Shanghai Pudong Development Bank come in as participants.

Proceeds are for general corporate purposes.

Taiwan

Chicony Electronics has concluded a NT$5 billion five-year financing through joint bookrunners Chang Hwa Commercial Bank, E.Sun Commercial Bank, Hua Nan Commercial Bank, Land Bank of Taiwan, Taipei Fubon Commercial Bank and Taiwan Cooperative Bank.

The fundraising comprises a NT$2 billion term loan, a NT$3 billion revolver and a $100 million revolving portion but the maximum drawdown the revolving tranches cannot exceed a combined NT$3 billion.

Syndication saw CTBC Bank, Mega International Commercial Bank, Ta Chong Bank and Yuanta Commercial Bank round up the group at lower tiers.

Proceeds are to repay existing debt and for working capital purposes.

Ritek Corp has completed a NT$1 billion five-year term loan via joint bookrunners CTBC Bank, First Commercial Bank, Shanghai Commercial & Savings Bank, Ta Chong Bank and Taiwan Cooperative Bank. CTBC Bank was the facility agent for the transaction.

Final allocations saw the bookrunners provide NT$180 million each while participant Chang Hwa Commercial Bank lent NT$100 million.

Proceeds are to refinance an existing loan facility signed in August 2010 and for working capital purposes.

Vietnam

Vina Kyoei Steel has inked a $56 million eight-year and two-month term loan through sole bookrunner and mandated lead arranger Mizuho.

Kyoei Steel is the parent of the borrower.

Final allocations saw Mizuho lend $11 million while participant Resona Bank pledged $22 million. Participant Bank of Tokyo-Mitsubishi UFJ provided $11 million while SMBC and Sumitomo Trust & Banking provided $6 million each to wrap up the syndication.

Proceeds are for equipment funding purposes.