Loan Week, January 30-February 5

A roundup of the latest syndicated loan market news.

 

China

Hangzhou Hikvision Digital Technology has completed a $120 million three-year term loan through bookrunners and mandated lead arrangers HSBC and Standard Chartered.

Syndication saw ANZ, Bank of Taiwan, Bank SinoPac, BNP Paribas, Chang Hwa Commercial Bank, CTBC Bank, Hang Seng Bank, Hua Nan Commercial Bank, Land Bank of Taiwan, Maybank, Mega International Commercial Bank, Nanyang Commercial Bank, SMBC and Taiwan Business Bank join in as mandated lead arrangers while Banca Monte dei Paschi di Siena, E.Sun Commercial Bank, First Commercial Bank and UOB came in as lead arrangers.

Proceeds are for refinancing and working capital purposes.

TOYO TIRE (ZHANGJIAGANG) has signed a Rmb 123 million three-year term loan through bookrunner and mandated lead arranger Bank of Tokyo-Mitsubishi UFJ.

The facility is guaranteed by Toyo Tire & Rubber.

Syndication saw Mizuho come in as lender.

Proceeds are for working capital purposes.

Singapore

Raffle AXA Tower has secured a S$635 million one-year term loan through sole bookrunner and mandated lead arranger OCBC.

The facility is split into a S$485 million tranche and a S$150 million portion.

Syndication saw Bank of East Asia, Bank of Nova Scotia, Great Eastern Life Assurance, Overseas Assurance Corp and UOB join in as participants.

Proceeds are to refinance existing indebtedness.

Taiwan

CCB International (Holdings) has sealed a $100 million three-year term loan through sole bookrunner and mandated lead arranger China Everbright Bank.

The facility is priced at 210bp over Libor.

Final allocations saw the lead lend $55 million while CTBC Bank provided $30 million as mandated lead arranger. Hua Nan Commercial Bank concluded the syndicate with $15 million.

Proceeds are for working capital and corporate funding requirements.

Cheng En Construction Corp has obtained a NT$4.5 billion 15-year term loan through bookrunners and mandated lead arrangers Bank of Taiwan, Land Bank of Taiwan and Mega International Commercial Bank.

Syndication saw Agricultural Bank of Taiwan join in as manager while Taiwan Cooperative Bank came in as lender.

Proceeds are for refinancing purposes.

Jiangsu Xinning New Building Materials has completed a $30 million five-year term loan through bookrunners and mandated lead arrangers CTBC Bank and Mega International Commercial Bank.

The facility is priced at 130bp over Libor and borrower will pay any excess beyond a 35bp between TAIFX and Libor.

Syndication saw E Sun Commercial Bank come in as manager while Taiwan Cooperative Commercial Bank and The Shanghai Commercial & Saving Bank joined in as lenders.

Proceeds are for refinancing purposes.

Tecom has inked a NT$300 million three-year revolver through sole bookrunner and mandated lead arranger CTBC Bank.

Final allocations saw the lead commit NT$200 million while Mega International Commercial Bank came in with NT$100 million as participant.

Proceeds are for working capital purposes.

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