Australia
Cheung Kong Infrastructure Finance (Australia) has sealed a A$260 million three-year term loan through bookrunners and mandated lead arrangers ANZ and Mizuho.
Final allocations saw Mizuho contribute A$185 million while ANZ lent A$60 million. Arrangers Tai Fung Bank and Chang Hwa Commercial Bank committed A$10 million and A$5 million, respectively.
Proceeds are to refinance existing indebtedness.
China
Inner Mongolia Huomei Hongjun Aluminium & Electricity successfully signed a $77 million three-year pre-financing term loan through sole bookrunner BNP Paribas. The facility was oversubscribed and upsized from $70 million.
The fundraising consists of a $50 million tranche maturing in December 2014 and a $27 million portion maturing in June 2015.
Syndication saw the sole lead and participant SMBC commit in tranche one while Cathay United Bank, Hua Nan Commercial Bank, Taishin International Bank and Taiwan Cooperative Bank participated in tranche two.
Proceeds are to finance alumina purchase in offtake contracts.
Hong Kong
Europe Container Terminal has obtained a €240 million three-year loan on a club basis through mandated leads Bank of China, Bank of Tokyo-Mitsubishi UFJ, China Construction Bank, Credit Agricole, Development Bank of Japan, ING, KfW IPEX-Bank, Mizuho, SMBC and Svenska Handelsbanken.
The deal is guaranteed by Hutchison Port Holdings. Proceeds are for working capital purposes.
Noble Group has successfully completed a $500 million two-year self-arranged revolving letter of credit and guarantee facility on a club-basis through 19 banks.
Final allocations saw mandated lead arrangers ING, Rabobank and Societe Generale contribute $35 million each while Bank of Tokyo Mitsubishi UFJ, Citi, Commerzbank, Commonwealth Bank of Australia, DBS, First Gulf Bank, NAB, Natixis, RBS and Standard Chartered pledge $30 million each. Arrangers Citic Bank, ICICI Bank and Lloyds Bank lent $20 million each while Gulf International Bank provided $15 million. Axis Bank and Bank of Taiwan ended up with $10 million each.
Proceeds are to issue trade and financial instruments, and refinance an existing $775 million letter of credit and guarantee tranche signed in August 2010.
India
Yes Bank has obtained a $216 million- equivalent one-year term loan through bookrunners and mandated lead arrangers Bank Muscat, Citi, Commerzbank, Doha Bank, HSBC, RBS, Standard Chartered, State Bank of India and Wells Fargo.
The facility is split into a $155 million tranche and a €50 million portion.
Syndication saw LBBW and Raiffeisen Landesbank Oberosterreich join in as lead arrangers while Afrasia Bank, Banca Monte de Paschi Di Siena and Oberbank came in as arrangers.
Proceeds are for debt repayment and general corporate purposes.
Indonesia
Maritim Barito Perkasa has secured a $40 million seven-year revolver on a club-basis through mandated lead arrangers DBS, HSBC, Mizuho, OCBC and SMBC.
The facility is priced at 250bp over Libor for offshore lenders and 270bp over Libor for onshore lenders.
Final allocations saw Mizuho commit $14 million while OCBC and SMBC contributed $8 million each. DBS and HSBC pledged $5 million each.
Proceeds are for general corporate purposes.
Singapore
Ascendas Hospitality Trust’s subsidiaries – Ascendas Hospitality Real Estate Investment Trust and Ascendas Hospitality Business Trust have secured term loan and revolving credit facilities totaling S$168 million through mandated lead arrangers DBS, HSBC, Nomura and Standard Chartered.
The first S$83 million facility, borrowed through the trustee company of Ascendas Hospitality Real Estate Investment Trust, comprises a S$65 million two-year term loan, and two one-year revolvers of S$6 million and S$12 million.
The second S$85 million facility, borrowed through the trustee-manager of Ascendas Hospitality Business Trust, is split into a S$50 million two-year term loan, and two one-year revolving credits of S$10 million and S$25 million.
Proceeds are to partially fund the acquisition of properties and for general corporate purposes.
Neptune Orient Lines has obtained a $50 million three-year revolver on a club basis through a consortium of four mandated lead arrangers.
Final allocations saw Chinatrust Commercial Bank and Standard Chartered take $15 million each while First Commercial Bank and Land Bank of Taiwan ended up with $10 million each.
Proceeds are for working capital and general corporate purposes.
South Korea
Hana Bank signed a $302 million- equivalent one-year term loan on a club-basis through mandated lead arrangers ANZ, Bank of America Merrill Lynch, Barclays, Commerzbank, Doha Bank, HSBC, LBBW, Natixis, RBS, Standard Chartered, SMBC and Wells Fargo.
The facility is split into a $180 million portion and a €100 million tranche.
Proceeds are to refinance an existing €260 million facility signed in July 2011.
Shinhan Bank, acting through its Hong Kong branch, has secured a $100 million one-year facility on a club basis through a consortium of four mandated lead arrangers.
The one-year transferable term loan is priced at 85bp over Libor.
Final allocations saw mandated lead arrangers Wells Fargo Bank take $30 million while Standard Chartered and Mega International Commercial Bank held $25 million each. Doha Bank ended up with $20 million.
Proceeds are for general corporate purposes.
H&K Shipping, Omnia Enterprises and Pluto Lease Corp have signed three separate seven-year facilities of $122 million each totaling $366 million through mandated lead arrangers Bank of Tokyo-Mitsubishi UFJ, Korea Development Bank, Korea Finance Corp, SMBC and Standard Chartered.
Proceeds are for ship financing purposes.
Taiwan
Taiwan Optical Platform Group and its subsidiaries have sealed a NT$4.3 billion six-year facility through sole bookrunner Chinatrust Commercial Bank.
The debt package is split into a NT$3.7 billion term loan and a NT$600 million revolver, which are priced at 120bp over secondary CP rate.
Final allocations saw the lead take NT$1.5 billion while mandated lead arranger Land Bank of Taiwan provided NT$900 million. Lead Arrangers Taishin International Bank and Yuanta Commercial Bank joined in with NT$700 million each while Cathay United Bank ended up with NT$500 million.
Proceeds are for refinancing and working capital purposes.
UPC Technology Corp completed a NT$6.4 billion five-year revolving facility last week through bookrunners and mandated lead arrangers Bank of Taiwan, Bank SinoPac, Taipei Fubon Commercial Bank and Taiwan Cooperative Bank.
The facility consists of a NT$2.4 billion tranche and a NT$4 billion portion, which are priced at 63bp over secondary CP rate with a pre-tax interest rate floor of 1.5%.
Final allocations saw the leads contribute NT$880 million each while participant Far Eastern International Bank pledged NT$430 million. Participants Agricultural Bank of Taiwan, Chang Hwa Commercial Bank, E.Sun Commercial Bank, First Commercial Bank, Hua Nan Commercial Bank, Land Bank of Taiwan and Mega International Commercial Bank came in with NT$350 million each.
Proceeds are for refinancing and investment purposes.
YFY Cayman has successfully concluded a $150 million financing through bookrunners and mandated lead arrangers Bank of Taiwan, E.Sun Commercial Bank, Mega International Commercial Bank and Taipei Fubon Commercial Bank.
The five-year facility comprises a $100 million term loan and a $50 million revolver, which are priced at 120bp over a three- or six-month Libor.
Syndication saw Export-Import Bank of the Republic of China join in as a co-arranger.
Proceeds are for capital expenditure and working capital purposes.
Thailand
Coastal Energy has concluded a $200 million four-year, three-month reducing revolving credit through bookrunners BNP Paribas and Commonwealth Bank of Australia.
Syndication saw Standard Bank and Standard Chartered join in as mandated lead arrangers.
Proceeds are for capital expenditure purposes.
