loan-week-july-1117

Loan week, July 11-17

A roundup of the latest syndicated loan market news.
Australia

Singapore Power SPV SPI Australia AssetsÆ A$3.4 billion three-year facility was signed on July 15 and was oversubscribed following a blowout response from the market. The original mandated arrangers and bookrunners are ANZ, BNP Paribas, Commonwealth Bank of Australia, Royal Bank of Scotland and Westpac. The deal attracted commitments close to A$4 billion and was upsized from the original A$2.8 billion due to the overwhelming response.

The margin is priced at 85bp over BBSY and is tied to the ratings grid, meaning that an increment of 5bp will be added each time the ratings of the borrower decreases. Singapore Power is acting as the guarantor.

Syndication saw a total of 27 banks joining...
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