loan Week

Loan Week, July 5-11

A roundup of the latest syndicated loan market news.

Australia


Mirvac has self-arranged a A$1.7 billion revolving credit facility on a club basis through mandated lead arrangers ANZ, Bank of America Merrill Lynch, Citi, Commonwealth Bank of Australia, J.P. Morgan, NAB, RBC, SMBC and Westpac.

The facility comprises a A$680 million two-year and three-month tranche, a A$510 million four-year portion and a A$510 million five-year tranche.

Final allocations saw ANZ, Commonwealth Bank of Australia, NAB, SMBC and Westpac commit A$240 million each while Bank of America Merrill Lynch, Citi, J.P. Morgan and RBC pledged A$125 million each.

Proceeds are for refinancing purposes.

Qube Properties has secured a A$120 million three-year term loan through sole bookrunner NAB.

Final allocations saw the lead and mandated leads ANZ and Commonwealth Bank of Australia lend A$40 million each.

Proceeds are for refinancing purposes.

Visy Kraft Holdings has secured a A$400 million revolver through sole bookrunner and mandated lead arranger NAB.

The debt package is split into a A$100 million one-year portion and a A$300 million five-year tranche.

Syndication saw ANZ, Commonwealth Bank of Australia, Rabobank and Westpac join in as participants.

Proceeds are to refinance existing indebtedness.

 

China


Hangzhou Zhongce Rubber has obtained a $275 million three-year term loan through bookrunners and mandated lead arrangers SMBC and Standard Chartered.

Final allocations saw the leads provide $50 million each while lead arranger Natixis contributed $40 million. China Construction Bank and Commonwealth Bank of Australia came in with $30 million each while Bank of Tokyo-Mitsubishi UFJ pledged $20 million. Arrangers Bank of Taiwan, Chinatrust Commercial Bank, E.Sun Commercial Bank, KBC Bank and Mega International Commercial Bank lent $10 million each while senior manager Dah Sing Bank concluded with $5 million.

Proceeds are for working capital purposes.

 

Japan


Itochu Corp has signed a $500 million one-year revolver through sole bookrunner Citi.

Syndication saw Credit Agricole join in as the mandated lead arranger.

Proceeds are for general corporate purposes.

 

Hong Kong


China Minmetals and Onfem Finance have obtained a HK$3.8 billion three-year term loan through sole bookrunner and mandated lead arranger Wing Lung Bank.

The single-tranche facility is guaranteed by Minmetals Land and Minmetals Land Investments.

Final allocations saw the lead take HK$1.2 billion while lead arrangers China Everbright Bank, China Merchants Bank, Chong Hing Bank, Dah Sing Bank, Hang Seng Bank, ICBC, OCBC and Wing Hang Bank provided HK$300 million each. Participant Shanghai Pudong Development Bank rounded up the syndication with HK$240 million.

Proceeds are for general corporate purposes.

 

India


Assam Petrochemicals has signed a Rs6.4 billion 14-year term loan through sole bookrunner State Bank of India.

Assam Industrial Development Corp is the sponsor of the loan.

Final allocations saw the lead contribute Rs1.4 billion while participant Union Bank of India provided Rs900 million. Canara Bank, State Bank of Hyderabad and State Bank of Patiala lend Rs700 million each while Bank of Maharashtra, South Indian Bank and State Bank of Bikaner & Jaipur gave Rs440 million each. Vijaya Bank and Indian Overseas bank concluded the syndication by adding Rs350 million and Rs300 million, respectively.

Proceeds are for the construction of a captive power plant at Namrup, Assam, India.

 

Malaysia


Sime Darby Healthcare has secured a M$700 million five-year loan package on a club basis through mandated lead arrangers AmInvestment Bank, CIMB, OCBC and SMBC.

The facility comprises a M$250 million revolving credit facility and a M$450 million dual-currency portion.

Final allocations saw CIMB and OCBC provide M$250 million each while AmInvestment Bank and SMBC joined in with M$110 million and M$90 million, respectively.

Proceeds are to repay existing indebtedness and for acquisition purposes.

 

New Zealand


Matariki Forests has inked a NZ$258 million revolver on a club basis though mandated lead arrangers Bank of New Zealand, Commonwealth Bank of Australia, HSBC and Westpac.

The facility is split into a NZ$235 million three-year tranche and a NZ$23 million one-year portion.

Proceeds are to repay debt.

 

Taiwan


Jih Sun International Leasing & Finance has completed a NT$2.1 billion three-year revolving credit facility through sole bookrunner Bank of Taiwan.

The revolver has a commitment fee of 25bp.

Final allocations saw the lead pledge NT$600 million while Agricultural Bank of Taiwan participated with NT$400 million. Mega International Commercial Bank contributed NT$300 million while Chang Hwa Commercial Bank, Sunny Bank, Taiwan Cooperative Bank and Yuanta Commercial Bank held NT$200 million each.

Proceeds are for debt repaying purposes.

¬ Haymarket Media Limited. All rights reserved.

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