Sky CityÆs NZ$500 million three year term facility was signed on June 16. Mandated arrangers ANZ Investment Bank, Bank of New Zealand and Commonwealth Bank of Australia contributed NZ$166.7 million apiece. Proceeds are to refinance existing debt.
China
Mandated arrangers Banc of America Securities Asia, Bank of Tokyo-Mitsubishi UFJ, Calyon, DBS Bank and ING Bank launched a $200 million dual tranche financing for Minmetals Capitals & Securities on Monday.
The deal is split equally into a term loan and revolving credit, both with margins of 26bp over Libor. Banks have been invited to join on three levels. Co-arrangers committing $25 million or above gain an all-in of 31bp, arrangers providing $15 million to $24 million get 30bp, and lead managers contributing $7 million to $14 million receive 28bp. The deadline for banks to respond is July 7.
Joint mandated arrangers BNP Paribas and Mizuho Corporate Bank launched Zhenjiang Union Chemical Industry Corp (Union) and Zhuhai Unicizers Industrial Corp (Unicizers)Æs $100 million renminbi equivalent revolver into general syndication on Tuesday. Both mandated arrangers are running the books while BNP Paribas is the facility and documentation agent.
The three year facility comprises a $60 million tranche that will be borrowed by Zhenjian Union Chemical Industry Corp, located in Jiangsu, and the remaining $40 million portion will be borrowed by Zhuhai Unicizers Industrial Corp. Proceeds will be used for working capital purposes.
The borrowersÆ Taiwanese parent, UPC Technology Corp, is providing a guarantee. A number of local PRC banks are interested in the financing according to bankers close to the deal. A site visit will be held on June 30.
Hong Kong
Champion REITÆs HK$7.2 billion dual tranche facility has been launched into general syndication via eight mandated lead arrangers. They are Bank of China (Hong Kong), Bank of East Asia, Citigroup, HSBC, Hang Seng Bank, ICBC (Asia), JP Morgan and SMBC. The facility was pre-funded on April 27.
The five year facility comprises a HK$7 billion term portion and a HK$200 million revolver offering a margin of 53bp over Hibor. The financing is being marketed on three tiers. Arrangers providing HK$300 million earn an upfront fee of 35bp, leading to a top level all-in of 60bp over Hibor. Senior managers with HK$200 million to HK$290 million get 27.5bp for an all-in of 58.5bp while managers taking HK$100 million to HK$190 million receive 20bp for an all-in of 57bp.
Banks have until June 28 to revert.
China Resources LandÆs HK$250 million facility was launched into general syndication via mandated arrangers Bank of China (Hong Kong), Calyon, DBS Bank, HSBC and Standard Chartered Bank (Hong Kong) on Tuesday.
The loan features a margin of 34bp over Hibor and participation levels are on two levels. Co-arrangers providing HK$150 million or above gain an all-in of 38.5bp and senior managers lending HK$75 million to HK$140 million get an all-in of 37bp.
Proceeds are to finance the general corporate funding requirements of the borrower and to refinance existing debt.
Hang Lung Properties signed its HK$6 billion revolving credit on June 21. Mandated arrangers Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Citigroup, DBS Bank, Industrial and Commercial Bank of China (Asia), Mizuho Corp Bank, Standard Chartered Bank (Hong Kong), Sumitomo Mitsui Banking Corp took HK$490 million each while Agricultural Bank of China (Hong Kong), Bank of China (Hong Kong) and BayernLB (Hong Kong) held HK$325 million apiece.
Bank of Communications (Hong Kong) joined as a co-arranger with a ticket of HK$485 million. Arrangers include Oversea-Chinese Banking Corp and Wing Lung Bank lending HK$200 million each. Senior managers are Tai Fung Bank lending HK$120 million and China Construction Bank (Hong Kong) providing HK$100 million.
The facility offers a margin of 23bp over Hibor. Proceeds are to refinance existing debt and for general corporate purposes.
Hopewell FinanceÆs HK$5.35 billion facility has been upsized further from HK$4 billion after an enthusiastic response from the market. A total of 17 banks joined in the financing.
Mandated co-ordinating arranger Bank of China (Hong Kong) pledged HK$525 million while six others joined with commitments of HK$500 million each. They are Bank of Communications, BNP Paribas, Calyon, China Construction Bank (Hong Kong), Citigroup and ICBC (Asia). Export Development Canada lent HK$300 million, Agricultural Bank of China and DBS Bank took HK$250 million apiece and joined at the same level.
Lead managers are Bank of Tokyo- Mitsubishi UFJ and Liu Chong Hing Bank committing HK$200 million each while Mizuho Corporate Bank, SMBC (Singapore) and Wing Lung Bank ended up with HK$150 million apiece. Joining as senior mangers are Tai Fung Bank and Oversea-Chinese Banking Corp with tickets of HK$100 million and HK$75 million respectively.
The signing ceremony has been scheduled for June 30.
Pacific Andes International HoldingsÆ $120 million multi-tranche facility is still syndicating. Mandated lead arrangers Hang Seng Bank, HSBC and Rabobank have extended the deadline to early next week to accommodate a few more banks. The facility will be used to fund the construction of a new factory in Qingdao and to refinance existing debt.
The HK$500 million loan for Hong Kong brokerage firm Tai Fook Securities has been allocated. The facility was oversubscribed with a total of 19 banks joining in syndication. Co-ordinating arrangers HSBC, Bank of China (Hong Kong) and ICIC Bank committed HK$70 million each. OCBC also joined at the top level with a hold of HK$44 million.
Arrangers include Dah Sing Bank lending HK$44 million, and Asia Commercial Bank, Bank of China (Macau), SMBC and Wing Hang Bank absorbing HK$20 million each. Chang Hwa Commercial Bank and CITIC Ka Wah Bank ended up with HK$18 million apiece.
Joining as senior mangers are International Bank of Taipei, Maybank and Taiwan Business Bank with tickets of HK$12 million apiece. Allied Banking Corp, Hang Seng Bank, Hua Nan Commercial Bank, Liu Chong Hing Bank and Shanghai Commercial Bank joined as managers and provided HK$10 million each.
Signing will be held on June 29.
¬ Haymarket Media Limited. All rights reserved.
