Loan Week, July 18-24

A roundup of the latest syndicated loan market news.

Australia

Computershare has completed a $450 million three-year revolver through bookrunners and mandated lead arrangers ANZ and NAB.

Final allocations saw BMO, Bank of America Merrill Lynch, Bank of Tokyo-Mitsubishi UFJ, Commonwealth Bank of Australia, HSBC, JPMorgan and RBS join in as lead arrangers.

Proceeds are for refinancing and general corporate purposes.

Sun Group Finance has inked a A$1.9 billion financing through underwriters and mandated lead arrangers ANZ, Commonwealth Bank of Australia, NAB and Westpac.

The facility is split into a A$750 million three-year and a A$750 million five-year term loan and a A$375 million three-year revolver.

Final allocations saw ANZ provide A$350 million while NAB pledged A$300 million. Commonwealth Bank of Australia lent A$300 million while Westpac took A$250 million. Bank of Nova Scotia joined in with A$80 million as mandated lead arranger while Bank of Tokyo-Mitsubishi UFJ came in with A$65 million as lead arranger. Bank of America Merrill Lynch, Credit Agricole, ING, RBC, RBS and SMBC took A$80 million apiece as participants while CIBC concluded the syndicate with A$50 million.

Proceeds are to support the $6.2 billion acquisition of Queensland Motorways by Transurban Group.

China

ICIL Thames Leasing has secured a $64 million 12-year term loan through sole bookrunner and mandated lead arranger Deutsche Bank.

Final allocations saw the lead contribute $14 million while Commonwealth Bank of Australia joined in with $50 million as arranger.

Proceeds are for aircraft financing.

Hong Kong

ZTE (HK) has inked a $450 million four-year term loan through joint bookrunners Bank of China, BNP Paribas, Credit Agricole and Societe Generale.

The facility is underwritten by the leads.

Syndication saw China Construction Bank and Shanghai Pudong Development Bank join in as mandated lead arrangers while Chang Hwa Commercial Bank, First Commercial Bank, Land Bank of Taiwan and Taiwan Cooperative Bank came in as arrangers. E.Sun Commercial Bank and Hua Nan Commercial Bank came in as senior managers to complete the process.

Proceeds are to repay a $900m loan that was signed in July 2011.

India

Prize Petroleum International has sealed a $100 million nine-year and six-month term loan through sole bookrunner and mandated lead arranger State Bank of India.

The facility is priced 375bp over Libor.

Final allocations saw participant Syndicate Bank provide $50 million while Allahabad Bank and Export-Import Bank of India contributed $25 million apiece.

Proceeds are to support the acquisition of an 11.25% stake in BassGas Infrastructure & Yolla field and a 9.75% stake in Trefoil field from AWE.

Taiwan

Century Iron & Steel Industrial has obtained a NT$3 billion five-year loan package through bookrunners and mandated lead arrangers Bank of Taiwan and Chang Hwa Commercial Bank.

The financing comprises a NT$1.6 billion revolver/term loan facility, a NT$400 million term loan and a NT$1 billion letter of credit facility.

Syndication saw First Commercial Bank, Hua Nan Commercial Bank, Taichung Commercial Bank and Taiwan Cooperative Bank come in as participants.

Proceeds are for debt repayment, working capital and capital expenditure purposes.

La New International has inked a NT$700 million three-year revolver through joint bookrunners and mandated lead arrangers Chang Hwa Commercial Bank, E. Sun Commercial Bank and Land Bank of Taiwan.

Syndication saw First Commercial Bank and Taiwan Cooperative Bank come in as mandated lead arrangers while Bank of Panhsin, Hua Nan Commercial Bank and Taiwan Business Bank join in at a lower tier.

Proceeds are for refinancing and working capital.

Tsai Wang Enterprise has signed a NT$7.2 billion seven-year fund package through joint bookrunners and mandated lead arrangers First Commercial Bank, Hua Nan Commercial Bank, Taichung Commercial Bank, Taishin International Bank, Taiwan Business Bank and Yuanta Bank.

The facility comprises a NT$5.2 billion term loan, a NT$1.5 billion term loan and a NT$500 million revolver.

Syndication saw Bank of Kaohsiung and Taiwan Cooperative Bank come in as participants.

Proceeds are to repay debt, and for investment and general corporate purposes.

Winbond Electronics Corp has secured a NT$9 billion term loan through joint bookrunners and mandated lead arrangers CTBC Bank, China Development Industrial Bank, DBS, First Commercial Bank and Taishin International Bank.

The loan package is split into a NT$6.5billion five-year portion and a NT$2.5billion three-year tranche.

Syndication saw Chang Hwa Commercial Bank join in as mandated lead arranger while Far Eastern International Bank and Taiwan Cooperative Bank came in as arrangers. Bank SinoPac, Bank of Taiwan, Taipei Fubon Commercial Bank, Shanghai Commercial & Savings Bank and Ta Chong Bank join in at lower tiers.

Proceeds are for refinancing and capital expenditure purposes.