Loan Week, July 12-18

A roundup of the latest syndicated loan market news.

 

China


 

Sekisui House (Wuxi) has secured a Rmb600 million three-year term loan through sole bookrunner and mandated lead arranger Bank of Tokyo-Mitsubishi UFJ. Sekisui House, the borrower’s parent, is the guarantor of the financing.

Final allocations the lead give Rmb360 million while participant Agricultural Bank of China lent Rmb240 million.

Proceeds are for real estate development purposes.

 

India


 

BPRL International has inked a $150 million three-year term loan though sole bookrunner and mandated lead arranger RBS.

Final allocations saw the lead commit $65 million while mandated leads BBK BSC and Mega International Commercial Bank provided $20 million each. Bank of East Asia, Chinatrust Commercial Bank and State Bank of India came in with $15 million each.

Proceeds are to refinance existing indebtedness.

Reliance Marcellus has obtained a $350 million five-year term loan through sole bookrunner and mandated lead arranger RBS.

Final allocations saw the lead contribute $125 million while mandated leads ANZ, Bank of America Merrill Lynch, Barclays, Credit Agricole and Standard Chartered pledged $45 million each.

Proceeds are for general corporate purposes.

 

Japan


 

Nassan Motor and Nissan Motor Acceptance Corp have completed a $2.2 billion five-year revolver through sole bookrunner and mandated lead arranger Citi.

Syndication saw Mizuho join in as mandated lead arranger while other participants were undisclosed.

Proceeds are for general corporate purposes.

 

Korea


 

Korea National Oil Corp has signed a $330 million credit facility on a club basis through mandated lead arrangers ANZ, BNP, Credit Agricole, DBS, Mizuho and Standard Chartered.

Proceeds are to refinance existing indebtedness.

 

Malaysia


 

Petroliam Nasional and Petronas Lubricants Italy have concluded a €435 million five-year financing through sole bookrunner Bank of Tokyo-Mitsubishi UFJ.

Syndication saw Citi and Mizuho come in as mandated lead arrangers.

Proceeds are to repay debt.

 

Thailand


 

Solar Power (Khon Kaen 10) has inked a Bt488 million 10-year financing through sole bookrunner and mandated lead arranger Kasikornbank.

Syndication saw Bank of Ayudhya, ICBC and Thai Military Bank join in as participants.

Proceeds are to support the construction of solar plant.

Solar Power (Loei 2) has obtained a Bt480 million ten-year term loan through sole bookrunner Kasikornbank.

Syndication saw Bank of Ayudhya, ICBC and Thai Military Bank join in at lower levels.

Proceeds are for the development of a solar plant.

 

Taiwan


 

Advanced Semiconductor Engineering has concluded a $400 million five-year financing through joint bookrunners Bank of Taiwan, Bank of Tokyo-Mitsubishi UFJ, CTBC Bank, Chang Hwa Commercial Bank, Citi and Taipei Fubon Commercial Bank.

The facility contains a $270 million term loan and a $130 million revolving credit.

Syndication saw Mizuho join in as mandated lead arranger while China Development Financial Holding, E.Sun Commercial Bank, Export-Import Bank of the Republic of China, Far Eastern International Bank, First Commercial Bank, Mega International Commercial Bank, Metrobank, Taishin International Bank and Taiwan Cooperative Bank rounded up the group as participants.

Proceeds are for capital expenditure and working capital purposes.

Compeq Manufacturing has obtained a NT$5 billion five-year term loan through joint bookrunners Bank of Taiwan, CTBC Bank, Chang Hwa Commercial Bank, China Development Industrial Bank, E.Sun Commercial Bank, Far Eastern International Bank, First Commercial Bank, Hua Nan Commercial Bank, Industrial Bank of Taiwan, Land Bank of Taiwan, Mega International Commercial Bank, Ta Chong Bank, Taipei Fubon Commercial Bank, Taishin International Bank, Taiwan Cooperative Bank and Yuanta Commercial Bank.

Syndication saw Shanghai Commercial & Savings Bank and Taichung Commercial Bank come in as participants.

Proceeds are for repaying existing indebtedness.

Glotech Technical Materials successfully signed a NT$1.5 billion five-year financing on Tuesday (16 July) through joint bookrunners Bank of Taiwan and First Commercial Bank.

The facility comprises a NT$1 billion tranche, a NT$250 million term loan and a NT$250 million revolver.

Syndication saw Agricultural Bank of Taiwan, Bank of Panhsin, Far Eastern International Bank, Mega International Commercial Bank and Taiwan Cooperative Bank join in at lower tiers.

Proceeds are to refinance an existing loan facility signed in Jun 2011, and for capital expenditure and working capital purposes.

Highwealth Construction has sealed a NT$5.5 billion five-year term loan through sole bookrunner Mega International Commercial Bank.

The facility is priced at 148bp over the one-year post office savings rate.

Final allocations saw the lead take NT$2.2 billion while participants Agricultural Bank of Taiwan, Jih Sun International Bank, Kaohsiung Business Bank, Taichung Commercial Bank, Taiwan Business Bank and Taiwan Cooperative Bank pledged NT$550 million each.

Proceeds are to support construction projects in Kaohsiung and Danshui, and for land purchasing purposes.

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