Loan Week

Loan Week, January 25-31

A roundup of the latest syndicated loan market news.

Hong Kong


CC Land Holdings has secured a HK$3.4 billion three-year term loan on a club basis through mandated lead arrangers Bank of East Asia, Hang Seng Bank, HSBC, ICBC and Wing Lung Bank.

Proceeds are to refinance an existing HK$2.8 billion facility signed in July 2010, and to replenish working capital.

 

Indonesia


Pertamina has obtained a $965 million five-year term loan through bookrunner and mandated lead arranger ANZ, Bank of Tokyo-Mitsubishi UFJ, DBS, HSBC, Mizuho, OCBC, RBS and SMBC.

The facility is split into a $246 million, a $219 million, a $137 million, a $70 million and a $293 million portions.

Syndication saw CIMB, Commonwealth Bank of Australia, Bank Panin and Qatar National Bank join in as lead arrangers while Bank of China, Bank of East Asia,  Bank of Taiwan, Chang Hwa Commercial Bank, First Commercial Bank, Land Bank of Taiwan, Mega International Commercial Bank, Societe Generale, Taipei Fubon Commercial Bank and Taiwan Cooperative Bank acted as arrangers. Seven other banks came in at a lower tier.

Proceeds are to refinance an existing facility signed in June 2010 and for general corporate purposes.

 

Laos


Phu Bia Mining has completed a $275 million revolver through sole bookrunner and mandated lead arranger ANZ.

The facility is split into a $250 million four-year tranche and a $25 million 360-day portion. Margin is 350bp over Libor.

Final allocations saw the lead commit $80 million while mandated lead arranger Commonwealth Bank of Australia joined in with $45 million. Natixis came in with $40 million while participant SMBC provided $35 million. ICBC pledged $30 million while Investec Bank lent $25 million. Barclays bank ended up with $20 million.

Proceeds are for working capital, capital expenditure and general corporate purposes.

 

New Zealand


Rank Group has inked a $320 million four-and-a-half-year revolver on a club basis through mandated lead arrangers ANZ, Bank of New Zealand, Commonwealth Bank of Australia, Credit Suisse, HSBC, Rabobank,SMBC and Westpac.

Final allocations saw Credit Suisse provide $94 million while ANZ, HSBC and SMBC lent $40 million each. Commonwealth Bank of Australia pledged $36 million while Bank of New Zealand and Rabobank lent $25 million each. Westpac concluded with $21 million.

Proceeds are to refinance existing indebtedness.

 

Philippines


Philippine Long Distance Telephone has obtained a $300 million five-year term loan on a club basis through mandated lead arrangers ANZ, Bank of Tokyo-Mitsubishi UFJ, Mizuho and SMBC.

Final allocations saw the arrangers provide $75 million each.

Proceeds are for capital expenditure purposes.

 

Taiwan


Greencompass Marine has secured a $200 million seven-year term loan through bookrunner and mandated lead arrangers First Commercial Bank and Mega International Commercial Bank.

The guaranteed facility is split into a $160 million tranche and a $40 million portion. Margin is 130bp over three-month Libor with a commitment fee of 15bp.

Final allocations saw the leads contribute $60 million each while mandated lead arrangers E.Sun Commercial Bank and Taipei Fubon Commercial Bank came in with $30 million each. Industrial Bank of Taiwan concluded with $20 million as participant.

SinoPac Securities (Cayman) Holdings has inked an $88 million three-year revolving credit facility through bookrunners Mega International Commercial Bank and Taishin International Bank.

The facility is priced at 160bp over Libor with a commitment fee of 25bp.

Final allocations saw the bookrunners provide $11 million each while Industrial Bank of Taiwan came in with $8.3 million as mandated lead arranger. Yuanta Bank and Ta Chong Bank joined in with $8 million each while Bank of Taiwan, Fubon Financial Holding, Taiwan Business Bank and Taiwan Cooperative Bank pledged $6 million each. Manager Chang Hwa Commercial Bank contributed $5 million while Hua Nan Commercial Bank, Far Eastern International Bank and Shanghai Commercial & Savings Bank concluded with $4 million each.

Proceeds are for general corporate purposes.

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