A A$500 million five-year financing for Iluka Resources has been launched into syndication via mandated lead arrangers and bookrunners ABN AMRO and Westpac.
A roadshow is expected to be held next week in Perth. The target closing date is slated for the end of January.
A A$2.3 billion LBO facility for Ned Group Holdings closed senior syndication at the end of December via six original mandated arrangers who also funded the loan on January 8. ANZ, Westpac, Calyon, Sumitomo Mitsui Banking Corp, Mizuho Corporate Bank and ABN AMRO are the leads in the deal.
The financing is split between a A$2.2 billion six-year credit and a A$60 million bullet facility.
General syndication is slated to be launched in the third week of January. The funds are to support Carlyle Group and National HireÆs acquisition of Coates Hire.
Primary HealthcareÆs credit facility led by ABN AMRO, Calyon, Credit Suisse, Deutsche Bank and National Australia Bank is still in senior syndication due to a few issues with the loan structure. The exact loan amount is yet to be determined but it is understood to be in the range of A$2.5 billion to A$2.6 billion.
The funds are to support the acquisition of Symbion Health.
China
Syndication of ASE Assembly & Test (Shanghai)Æs $190 million five-year term loan has so far received five commitments. DBS Bank and HSBC are leading the facility.
The financing features a margin of 90bp over Libor and an average life of four years. Advanced Semiconductor Engineering (ASE) (Taipei) is the parent company.
The funds are to partly refinance existing debt and for general corporate purposes.
A $68 million five-year dual tranche fundraising for Hubei Yadong Cement has been completed via mandated arrangers Citi and Sumitomo Mitsui Banking Corp with Citi solely running the books.
The loan is split equally into a renminbi tranche and a US dollar portion with margins of 90% of the PBOC rate and 50bp over Libor, respectively.
Syndication saw five banks come in as lead managers û Bangkok Bank, Bank of China (Wuhan Branch), Hang Seng Bank, Mizuho Corporate Bank and United Overseas Bank. Proceeds are for capital expenditure purposes.
Swire PropertiesÆ Rmb2.4 billion dual tranche three-year bullet loan is still in general syndication as regulatory changes made by the government has delayed the process. The mandated leads are BNP Paribas, HSBC and Standard Chartered Bank.
The credit comprises a Rmb2.2 billion facility and a Rmb200 million portion. Both tranches offer a spread of 110bp over the PBOC rate.
Banks have until January 18 to revert and proceeds are for working capital purposes.
TCC Guigang Cement CorpÆs Rmb1.1 billion equivalent dual tranche credit is still in syndication due to slow responses over the festive period. BNP Paribas, Calyon, Standard Chartered Bank and Oversea-Chinese Banking Corp are the mandated lead arrangers and bookrunners with Bank of China joining in as an equal-status lead arranger.
The loan is split into a Rmb700 million five-year portion priced at 31bp over Libor and a Rmb360 million three-year revolver priced at 90% of the PBOC rate. The two tranches have a two-year extension option.
Proceeds are to support the construction of the second phase cement plant. The targeted closing date is towards the end of the month.
Hong Kong
Wheelock Properties (HK) Æs HK$6.0 billion dual tranche financing was launched into senior syndication on January 9 via sole lead arranger and bookrunner Standard Chartered.
The credit comprises a HK$5.5 billion five-year term loan and a HK$500 million revolver with both tranches featuring spreads of 50bp over Hibor.
Banks have been invited to join as equal status arrangers with contributions of HK$1.0 billion or above receiving 15bp in underwriting fees. They also have a take-and-hold option of HK$600 million for 7.5bp. Both offer 28.5bp in management fees.
The targeted close for banks to revert is January 25.
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