Loan Week, January 31-February 6

A roundup of the latest syndicated loan market news.

China

Chang Chun Chemical (Jiangsu) has signed a $175 million five-year term loan through joint bookrunners Bank of Taiwan and Mizuho Bank.

Chang Chun Petrochemical and Chang Chun Plastics guaranteed the fundraising.

Final allocations saw Bank of Taiwan and Mizuho Bank hold $60 million and $40 million each while mandated lead arranger Chang Hwa Commercial Bank came in with $30 million. Land Bank of Taiwan, Mega International Commercial Bank and Export-Import Bank of the Republic of China participated with $20 million, $20 million and $5 million respectively.

Proceeds are to fund the company's expansion in China and for working capital purposes.

Hong Kong

GC Intermodal V has sealed a $68 million nine-year and three-month term loan through sole bookrunner and mandated lead arranger BNP Paribas.

The single tranche facility is fully-underwritten by the lead.

Final allocations saw BNP Paribas and arranger Sumitomo Mitsui Trust Bank commit evenly to the facility.

Proceeds are to support purchase of container ship.

Guotai Junan (Hong Kong) has inked a HK$3.3 billion three-year loan package through joint bookrunners Bank of China, HSBC and Standard Chartered.

Guaranteed by Guotai Junan International, the facility consists of a HK$990 million term loan and a HK$2.3 billion revolving credit facility.

Syndication saw Chang Hwa Commercial Bank, China Construction Bank and Taipei Fubon Commercial Bank come in as mandated lead arrangers while Industrial & Commercial Bank of China and Maybank joined in as lead arrangers. Bank of East Asia, China Citic Bank, E.Sun Commercial Bank, First Commercial Bank, Hua Nan Commercial Bank and Jih Sun International Bank came in as participants.

Proceeds are for working capital purposes.

India

Jalandhar Amritsar Tollways has completed a Rs2.1 billion financing through sole bookrunner State Bank of India.

The facility consists of a Rs1.6 billion 12-year term loan, a Rs45 million nine-month tranche and a Rs435 million four-year portion.

Final allocations saw arranger Canara Bank take Rs1.2 billion while participants Allahabad Bank and State bank of Bikaner & Jaipur lent Rs436 million each.

Proceeds are for debt restructuring purposes.

Taiwan

Nanya Technology has closed a NT$12 billion term loan through joint bookrunners Bank of Taiwan, Chang Hwa Commercial Bank, Mega International Commercial Bank, Taiwan Business Bank and Taiwan Cooperative Bank.

The term loan consists of a NT$7.3 billion tranche and a NT$4.7 billion portion.

Syndication saw CTBC Bank, E.Sun Commercial Bank, EnTie Commercial Bank, First Commercial Bank, Hua Nan Commercial Bank and Land Bank of Taiwan come in as mandated leads while Agricultural Bank of Taiwan, Far Eastern International Bank and Taishin International Bank rounded up the group at lower tiers.

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

United Daily News has secured a NT$6.1 billion five-year deal through joint bookrunners Bank of Taiwan and Taiwan Cooperative Bank.

The facility comprises a NT$2 billion term loan, a NT$2.1 billion portion and a NT$2 billion revolving credit facility.

Final allocations saw the leads contribute NT$2 billion each while mandated lead arranger Chang Hwa Commercial Bank provided NT$1 billion. Participants Agricultural Bank of Taiwan and Hua Nan Commercial Bank lent NT$600 million and NT$500 million respectively.

Proceeds are to fund the construction of a commercial-cum-residential building on Zhongxiao East Road in Taipei's Xinyi district and for working capital purposes.

Thailand

Serm Sang Palang Ngan has obtained a Bt2.7 billion multi-tranche facility through sole bookrunner and mandated lead arranger Kasikornbank.

Syndication saw Thai Military Bank join in as participant.

Proceeds are for the construction of a 52MW solar power facility in Lop Buri Province, Thailand.

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