Loan Week, January 3-9

A roundup of the latest syndicated loan market news.

Australia

AMP Capital Retail Trust has inked an A$830 million revolver on a club basis through mandated lead arrangers ANZ, Commonwealth Bank of Australia, Credit Agricole, NAB, SMBC and Westpac.

The debt package comprises a A$420 million three-year portion and A$100 million, A$200 million and  A$110 million five-year tranches.

Final allocations saw the banks contribute A$138 million each.

Proceeds are for refinancing, capital expenditure and working capital purposes.

China

Fujian Ton Yi Tinplate and Jiangsu Ton Yi Tinplate have sealed an $80 million three-year term loan through joint bookrunners and mandated lead arrangers BNP Paribas, Mega International Commercial Bank and SMBC.

The facility is split into a $30m portion for Jiangsu Yon Yi Tinplate and a $50m portion for Fujian Ton Yi Tinplate.

Syndication saw Bank of Taiwan, E.Sun Commercial Bank and Taiwan Business Bank join in as arrangers.

Proceeds are for working capital and debt repayment purposes.

Sino Biopharmaceutical has closed a $165 million three-year term loan through joint bookrunners Industrial & Commercial Bank of China, Mega International Commercial Bank and Societe Generale.

Syndication saw Bank of East Asia, CTBC Bank, Chang Hwa Commercial Bank, Maybank and Taishin International Bank come in as mandated leads while First Commercial Bank, Hua Nan Commercial Bank, Land Bank of Taiwan, Taipei Fubon Commercial Bank and Taiwan Cooperative Bank came in at lower tiers.

Proceeds are for general corporate purposes.

Hong Kong

EISA Holding has secured a $150 million five-year term loan through joint bookrunners Cathay United Bank, First Commercial Bank and Taiwan Business Bank.

The facility is guaranteed by Redwood Group International.

Final allocations saw bookrunners First Commercial Bank, Cathay United Bank and Taiwan Business Bank contribute $50 million, $35 million and $30 million, respectively, while participants E.Sun Commercial Bank and Ta Chong Bank came in with $20 million and $15 million each.

Proceeds are for debt repayment.

India

Electrosteel Steels has secured a Rs9.0 billion nine-year and ten-month loan package through sole bookrunner and mandated lead arranger State Bank of India.

The facility consists of three tranches of Rs61.8 billion, Rs13.1 billion and Rs15.0 billion, respectively.

Syndication saw 26 local banks join in as participants.

Proceeds are for capital expenditure and general corporate purposes.

Imperial Hospital & Research Centre has signed a Rs1.3 billion eight-year term loan through sole bookrunner and mandated lead arranger Yes Bank.

The single tranche facility will be repaid in quarterly instalments.

Final allocations saw the lead provide Rs745 million while participant IndusInd Bank gave Rs510 million.

Proceeds are for capital expenditure and debt repayment purposes.

Oil India has secured a $1 billion one-year term loan on a club basis through mandated lead arrangers ANZ, Bank of Tokyo-Mitsubishi UFJ, Citi, Credit Agricole, DBS, Deutsche Bank, Mizuho, RBS, State Bank of India and SMBC.

Proceeds are to refinance existing indebtedness.

ONGC Videsh has completed a $1.5 billion bridge loan on a club basis through mandated lead arrangers ANZ, Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Citi, Deutsche Bank, Mizuho, RBS, State Bank of India and SMBC.

Final allocations saw Bank of Tokyo-Mitsubishi UFJ and SMBC commit $200 million apiece while ANZ, Citi, RBS and State Bank of India took $163 million each. BNP Paribas, Deutsche Bank and Mizuho concluded with $150 million apiece.

Proceeds are for acquisition purposes.

Sesa Sterlite has inked a Rs10 billion one-year term loan through sole bookrunner and mandated lead arranger Axis Bank.

The facility is fully-underwritten by the lead.

Final allocations saw Axis Bank lend Rs1 billion, while participants Bank of India and Punjab & Sind Bank contributed Rs6.5 billion and Rs2.5 billion respectively.

Proceeds are for refinancing purposes.

Taiwan

Fulltech Fiber Glass has concluded a NT$3.6 billion five-year fundraising through sole bookrunner Bank of Taiwan.

The facility is divided into a NT$3.0 billion term loan and a NT$602 million revolving credit.

Syndication saw Chang Hwa Commercial Bank and Land Bank of Taiwan come in as mandated leads while First Commercial Bank, Shanghai Commercial & Savings Bank, Ta Chong Bank, Taishin International Bank, Taiwan Business Bank, Taiwan Cooperative Bank and Taiwan Shin Kong Commercial Bank rounded off the group at lower tiers.

Proceeds are to refinance an existing loan facility signed in May 2008 and for working capital purposes.

RichPower Electronics Devices has signed a NT$1.8 billion three-year revolver through joint bookrunners Chang Hwa Commercial Bank, E.Sun Commercial Bank, Far Eastern International Bank, First Commercial Bank and Taiwan Cooperative Bank.

The loan can be drawn in either NT$ or US$.

Final allocations saw bookrunners E.Sun Commercial Bank hold NT$360 million while Chang Hwa Commercial Bank, Far Eastern International Bank, First Commercial Bank and Taiwan Cooperative Bank provided NT$306 million each. Mega International Commercial Bank participated with NT$216 million to complete the process.

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

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222