loan-week-june-2026

Loan week, June 20-26

A roundup of the latest syndicated loan market news.
Australia

The extension of a A$1.192 billion term loan for BlueScope Steel was completed on June 20 via Commonwealth Bank of Australia and Westpac. The A$91.67 million facility will be extended to December 2009, while the new maturity date of the A$550 million portion will be in December 2011. The remaining A$550 transaction is unchanged and will mature in December 2010.

Proceeds are for general corporate purposes.

Crown Group FinanceÆs A$600 million five-year dual-tranche credit was sealed on June 20 via mandated arrangers and bookrunners ANZ, Bank of America, Commonwealth Bank of Australia, Royal Bank of Scotland and Westpac.

The deal is split equally into a term loan and a revolver portion and was syndicated in both Austrailan dollars and US dollars.

Final allocations saw mandated leads ANZ and Commonwealth Bank of Australia committing A$90.15 million apiece, while Bank of America, Royal Bank of Scotland and Westpac lent A$50 million each.

Coming in as a joint lead arranger was Commerzbank with a hold of A$79.7 million while co-arrangers BayernLB and BNP Paribas provided A$50 million apiece. Lead arrangers Mega International Commercial Bank, Scotia Bank and Toronto-Dominion Bank took A$30 million each.

The funds are to refinance existing debt and for general corporate purposes for casino operator Crown.

A A$320 million multi-tranche facility for EDL CSM (NSW) was completed last week as a club deal.

The loan comprises a A$192 million five-year refinancing tranche, a A$108 million five-year revolver for corporate and construction costs and a A$20 million one-year revolving credit for working capital purposes.

Final allocations saw mandated arrangers National Australia Bank providing A$95 million while ANZ, Commonwealth Bank of Australia and Suncorp-Metway contributed A$75 million each.

Proceeds are partly to support EDLÆs project financing of various assets, including coal mines and methane landfills, partly for remote power generation.

Syndication of HealthscopeÆs A$850 million three-year financing has been closed and is expected to sign today (Friday) via mandated lead arrangers ANZ and Westpac. ANZ is the sole bookrunner.

Final allocations saw ANZ and Westpac contributing A$210 million and A$183 million respectively. Commonwealth Bank of Australia took A$137 million as lead arranger, while co-arranger St George Bank held A$125 million.

Coming in as managers were BOS International, HSBC and Sumitomo Mitsui Banking Corporation, committing A$50 million apiece, while United Overseas Bank provided A$45 million.

Proceeds are to refinance an existing A$700 million loan signed in December 2007.

Transpower FinanceÆs NZ$250 million three-year debt package has been completed via sole bookrunner Citi.

The credit facility pays a spread of 40bp over the Bank Bill Rate. Transpower New Zealand is acting as the guarantor.

Allocations saw Citi and joint lead arranger Westpac providing NZ$50 million apiece. Coming in as participants were ANZ, ABN AMRO, Bank of New Zealand and Commonwealth Bank of Australia with holds of NZ$37.5 million each.

The funds are for general corporate purposes.

China

Wuhan Iron & SteelÆs $169 million three-and-a-half-year facility was sealed on June 26 via mandated arrangers and bookrunners Calyon and Royal Bank of Scotland. The loan was downsized from $200 million.

The deal features a spread of 180bp over Libor, flexed-up from 110bp.

Final allocations saw the bookrunners taking $30 million apiece. Equal-status arrangers Nanyang Commercial Bank also gave $30 million, while Commerzbank, KBC Bank and Swedbank contributed $20 million each.

Coming in as a senior manager was Westpac, which provided $10 million, and managers Bangkok Bank and Public Bank, which committed $5 million and $4 million respectively.

The funds are for working capital requirements.

Hong Kong

Citic Capital HoldingsÆ HK$750 million three-year term loan has been inked on a club basis via Bank of China (Hong Kong Branch), HSBC and Industrial & Commercial Bank of China (Asia).

Allocations saw the lenders committing HK$250 million apiece. Proceeds are for debt repayment purposes.

A HK$450 million three-year term loan/revolving credit for SG Finance is slated to sign today (June 27) via sole bookrunner Hang Seng Bank.

Syndication saw a further seven banks joining in at the top on a club-style basis û Citic Ka Wah Bank, HSBC, KBC Bank, Maybank, Oversea-Chinese Banking Corporation, Taipei Fubon Commercial Bank and Taiwan Business Bank.

Indonesia

PT Saptaindra SejatiÆs $300 million five-year debt package was signed on June 26 via a consortium of 10 mandated leads as a club deal.

The mandated arrangers were ANZ, Bank of Tokyo-Mitsubishi UFJ, Calyon, DBS Bank, Oversea-Chinese Banking Corporation, PT Bank Ekspor, PT Bank Mandiri, Standard Chartered Bank, Sumitomo Mitsui Banking Corporation and United Overseas Bank.

A $200 million seven-year revolver for Salamander Energy (South East Asia) has been funded by mandated leads BNP Paribas, International Finance Corporation and Natixis (Singapore branch). The sole bookrunner is BNP Paribas.

So far, syndication has seen ING Bank (Singapore branch) joining in.

The funds are to refinance an existing bridge facility and to fund capital expenditure purposes.

Singapore

AREIF (Singapore I)Æs S$525 million three-year dual-tranche facility was signed on June 20 via Bank of China (Singapore), DZ Bank (Singapore), Great Eastern Life Assurance, HSH Nordbank (Singapore), Landesbank (Singapore), Overseas Assurance Corporation, Oversea-Chinese Banking Corporation, Standard Chartered Bank and WestLB.

The financing was divided into a S$500 million portion to partly finance the acquisition of Singapore Power Building and a S$25 million loan to support the conversion of part of the existing property to retail space. The two tranches are priced at 120bp and 150bp respectively.

Sri Lanka

Government of Sri LankaÆs $150 million three-year fundraising was signed on June 16 as a club deal via a syndicate of eight lenders û Arab Investment Corporation, Bank Muscat, Emirates Bank International, HSBC, Indian Bank, Indian Overseas Bank, Standard Chartered Bank and State Bank of India.

The bullet loan features a margin of 250bp over Libor. Proceeds are to fund infrastructure projects.

Taiwan

BeyondPVÆs NT$1.1 billion five-year term loan was signed on June 20 through coordinating arrangers Chang Hwa Commercial Bank, China Development Industrial Bank, Chinatrust Commercial Bank, EnTie Commercial Bank and Taipei Fubon Commercial Bank.

The facility comprises NT$750 million and NT$350 million portions. The mandated leads each committed NT$110 million. Manager Taiwan Business Bank and Taiwan ShinKong Commercial Bank contributed NT$66 million apiece. Participants Bank Sinopac, Hua Nan Commercial Bank, Jihsun Commercial Bank, Mega International Commercial Bank and Shanghai Commercial & Savings Bank lent NT$55 million each. Export-Import Bank of the Republic of China lent NT$44 million and Bank of Kaohsiung, Bank of Panhsin and Taiwan Cooperative Bank held NT$33 million apiece.

Secured by stock, plants and equipment, as well as being guaranteed by Deer Forest Development and Luhua Technology, the spread on the transaction varies from 130bp to 170bp over the secondary CP rate depending on the operating margin. The commitment fee is 15bp.

The repayment schedule will be 14 uneven quarterly installments after a 21-month grace period. Proceeds are for capital expenditure purposes.

Hon Chuan (China) HoldingsÆ $30 million five-year dual-tranche facility was signed on June 18 via mandated lead arrangers E.Sun Commercial Bank, Land Bank of Taiwan, Ta Chong Bank and Taishin International Bank.

The debt package is split between a $28 million term loan and a $2 million revolver. Final allocations saw Land Bank of Taiwan committing $8 million, E.Sun Commercial Bank and Taishin International Bank each holding $5.5 million, Ta Chong Bank and lead manager Export Development Canada lending $4.5 million apiece, while Taiwan Business Bank gave $2 million.

The deal features a margin of 125bp over Libor and has a commitment fee of 20bp. Banks were invited to join on three levels. Co-arrangers participating with $6 million or more received a fee of 25bp, lead managers holding between $5 million and $5.9 million held 10bp and managers contributing from $2 million to $4.9 million earned 5bp.

The repayment schedule will be nine unequal semi-annual installments after a one-year grace period. Proceeds are for capital expenditure and working capital purposes.

A $60 million debt package for Huan Lung International and Huizhou Universal Cement was inked on June 25 by mandated leads Cathay United Bank, Chinatrust Commercial Bank, Land Bank of Taiwan and Mega International Commercial Bank.

The transaction is split into a $60 million term loan and a $60 million stand-by letter of credit with the total combined amount outstanding not exceeding $60 million. The mandated lead arrangers lent $11 million apiece, while manager Chang Hwa Commercial Bank and participant Taiwan Business Bank held $9 million and $7 million respectively.

Guaranteed by Universal Cement Corporation, the deal is priced at 70bp over Libor and the commitment fee is 15bp. The repayment schedule will be six semi-annual installments after a two-and-a-half-year grace period. Proceeds are for capital expenditure and working capital purposes.

A NT$650 million five-year revolving credit for Precision Motion Industries was upsized from NT$600 million and sealed on June 18 by Chinatrust Commercial Bank, First Commercial Bank, Land Bank of Taiwan, Industrial Bank of Taiwan and Shanghai Commercial & Savings Bank on a club basis.

Chinatrust Commercial Bank, Industrial Bank of Taiwan and Land Bank of Taiwan each committed NT$150 million while First Commercial Bank and Shanghai Commercial & Savings Bank contributed NT$100 million apiece.

Secured by land and factories, the amortising loan is priced at 80bp over the secondary CP rate and has a commitment fee of 20bp. Proceeds are for working capital purposes.
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