Loan Week, June 27-July 3

A roundup of the latest syndicated loan market news.

Australia

Colonial Holding has secured a A$350 million four-year term loan through bookrunners and mandated lead arrangers Citi, Commonwealth Bank of Australia, HSBC, Mizuho and SMBC.

Syndication saw Mega International Commercial Bank and Standard Chartered join in as mandated lead arrangers while Bank of China joined in as lead arranger. Chang Hwa Commercial Bank, Jih Sun International Bank, Land Bank of Taiwan and Taiwan Cooperative Bank concluded the syndicate as arrangers.

Proceeds are for refinancing purposes.

Echo Entertainment Group has inked a A$500 million revolver through bookrunners and mandated lead arrangers ANZ, Commonwealth Bank of Australia and NAB.

The debt package is split evenly into two A$250 million tranches.

Final allocations saw NAB pledge A$120 million while ANZ and Commonwealth Bank of Australia lent A$100 million each. Lead arranger SMBC joined in with A$50 million while Bank of Nova Scotia and UOB came in with A$40 million apiece. BNP Paribas committed A$30 million while Mega International Commercial Bank concluded the syndicate with A$20 million.

Proceeds are to refinance existing indebtedness.

Hong Kong

Comba Telecom Systems has sealed a $125 million three-year term loan through mandated lead arrangers Bank of China (Hong Kong), China Citic Bank International, Hang Seng Bank and HSBC on a club basis.

The facility is guaranteed by Comba Telecom Systems Holdings.

Final allocations saw HSBC pledge $35 million while the other banks provided $30 million each.

Proceeds are for debt repayment purposes.

Yanlord Land (Hong Kong) has obtained a $385 million three-year loan package through joint bookrunners DBS, Hang Seng Bank HSBC and Standard Chartered.

The financing comprises a $242 million term loan and $143 million revolving credit facility.

Final allocations saw Hang Seng Bank and HSBC take $75 million each while Standard Chartered and DBS provided $75 million and $50 million, respectively. Mandated Lead Shanghai Pudong Development Bank lent $40 million while lead arranger Tai Fung Bank contributed $30 million. Arrangers Bank of East Asia and China Citic Bank International contributed $20 million apiece to complete the syndication.

Proceeds are to refinance existing indebtedness and for general corporate purposes.

India

Balkrishna Industries has completed a $175 million three-year term loan on a club basis through mandated lead arrangers ANZ, Bank of Tokyo-Mitsubishi UFJ, Barclays, Citi, RBS, Standard Chartered and UOB.

Proceeds are to refinance existing indebtedness.

Neopro Technologies has inked a INR2 billion eight-year and five-month term loan through sole bookrunner and mandated lead arranger IndusInd Bank.

Syndication saw DCB Bank join in as participant.

Proceeds are for securitization purpose.

Indonesia

Garuda Indonesia has sealed a $200 million three-year debt package through joint bookrunners and mandated lead arrangers Ban Panin, Dubai Islamic Bank, Emirates NBD, First Gulf Bank, Standard Chartered and Warba Bank.

The facility is split into a $110 million term loan and a $90 million Islamic facility.

Final allocations saw Warba Bank provide $45 million while Dubai Islamic Bank and Emirates NBD offered $35 million each. Bank Panin and Standard Chartered lent $30 million apiece while First Gulf Bank gives takes $25 million.

Proceeds are for debt repayment and general corporate purposes.

Japan

Itochu Corp has inked a $500 million one-year revolving credit facility through sole bookrunner Citi.

Syndication saw Credit Agricole join in as mandated lead arranger.

Proceeds are to refinance an existing facility signed in June 2013.

Taiwan

CLEVO has sealed a NT$6 billion loan package through joint bookrunners and mandated lead arrangers CTBC Bank, First Commercial Bank, Land Bank of Taiwan and Taiwan Business Bank.

The facility is split into a NT$3.6 billion two-year term loan and a NT$2.4 billion five-year revolver. The tranche margin is 95bp over Taiwanese Secondary CP with 200bp floor rate.

Syndication saw Chang Hwa Commercial Bank, E. Sun Commercial Bank, Mega International Commercial Bank, Tachong Bank and Taiwan Cooperative Bank join in as participants.

Proceeds are for working capital and refinancing purposes.

Nien Made Enterprise has obtained a NT$3.6 billion five-year term loan through sole bookrunner and mandated lead arranger Taipei Fubon Commercial Bank.

The facility is split into a NT$2.5 billion tranche and a NT$1.1 billion portion and is priced at 95bp over Taiwanese Secondary CP.

Syndication saw CTBC Bank, Mitsubishi UFJ and SinoPac Securities join in as mandated lead arrangers while Chang Hwa Commercial Bank, E. Sun Commercial Bank, Industrial Bank of Taiwan and Taiwan Cooperative Bank came in as participants.

Proceeds are to repay existing debt.

Unitech Printed Circuit Board has secured a NT$3.3 billion five-year facility through joint bookrunners and mandated lead arrangers Bank of Taiwan, Taipei Fubon Commercial Bank and Taishin International Bank.

The loan is split into a NT$2.2 billion and a NT$550 million term loans and a NT$550 million revolver.

Syndication saw Mega international commercial Bank join in as mandated lead arranger while Chang Hwa Commercial Bank, First Commercial Bank, Shanghai Commercial & Savings Bank and Taiwan Cooperative Bank joined in as participants.

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