Australia
Brookfield Capital Management’s A$525 million three-year facility was signed last Friday (July 1) on a club basis through joint mandated lead arrangers ANZ, ING and National Australia Bank.
Final allocations saw ING and National Australia Bank commit A$197 million each while ANZ gave A$131 million.
Proceeds are to refinance existing indebtedness and to support the borrower's purchase of two new properties.
CLP Australia Finance’s A$2.1 billion multi-tranche revolver was successfully completed last week through a consortium of 15 banks. The loan package is split into a three A$450 million tranches with tenors of three-year, four-year and five-year respectively, and a A$700 million three-year working capital facility.
Final allocations saw joint bookrunners and mandated leads ANZ, Bank of Tokyo-Mitsubishi UFJ, National Australia Bank and Westpac commit A$215 million each while mandated lead arrangers Commonwealth Bank of Australia and HSBC gave A$215 million and A$140 million respectively. BBVA, Mizuho Corporate Bank, Royal Bank of Scotland and SMBC provided A$130 million each while BNP Paribas lent A$75 million. Lead arranger Bank of Nova Scotia took A$90 million while lead managers Bank of China, Credit Agricole and OCBC rounded up with syndicate with A$50 million each.
Proceeds are to refinance the A$1.6 billion acquisition facility signed in December 2010, and to refinance other existing facilities and for working capital purposes.
Fortescue Metals Group has obtained a $600 million three-year revolving credit through bookrunners Bank of America, Credit Suisse, Deutsche Bank, J.P. Morgan and Royal Bank of Scotland.
Syndication saw ANZ, Citibank and UBS join in as mandated lead arrangers while ICBC came in as a lead arranger.
The deal was borrowed through FMG Resources (August 2006). Proceeds are for capital expenditure purposes.
SingTel Optus’ subsidiary Optus Finance’s A$1.2 billion revolver was inked last week on a club basis through mandated lead arrangers ANZ, Bank of America, Barclays Bank, Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Citi, Commonwealth Bank of Australia, HSBC, J.P. Morgan, Mizuho Corporate Bank, OCBC and Westpac.
Proceeds are to repay existing debt and for general corporate purposes.
China
Trafigura Trading (Shanghai)’s Rmb490 million financing was signed last Thursday (June 30) through bookrunners BNP Paribas (China) and Standard Chartered (China).
The three-year revolving credit is priced at 100% of the PBOC rate.
Final allocations saw the leads and Bank of China take Rmb130 million each while Bank of Communications joined in as a senior manager with Rmb100 million.
Trafigura Beheer is the guarantor of the facility. Proceeds are for inventory storage purposes.
India
Adani Power Maharashtra’s Rs50.3 billion dual-tranche term loan was successfully completed last Thursday (June 30) through sole bookrunner and mandated lead arranger SBI Capital Markets.
The facility comprises a Rs47.2 billion 14-year tranche and a Rs3.1 billion 15-year portion, priced at 375bp and 525bp over the SBI Base Rate respectively. The loan package will be repaid in 40 quarterly installments after a six-month grace period and 42 quarterly installments after a one-year grace period.
Syndication saw Allahabad Bank, Andhra Bank, Bajaj Finance, Canara Bank, Corporation Bank, State Bank of Bikaner&Jaipur, State Bank of Hyderabad, State Bank of India, State Bank of Travancore and Syndicate Bank contribute as participants.
Proceeds are to support the development of a thermal power plant located at Gondia, Maharashtra, India.
A Rs2.9 billion 8.5-year term loan for Hanjer Biotech Energies was secured last week through sole bookrunner and mandated lead YES Bank. The facility will be repaid in 28 quarterly installments after a 1.5-year grace period.
Final allocations saw the lead pledge Rs2.6 billion while participant Karur Vysys Bank lent Rs300 million.
Proceeds are for project financing purposes.
Indonesia
Adaro Indonesia successfully obtained a $750 million 10-year unsecured loan on Monday (July 4) on a club basis through mandated lead arrangers Bank Mandiri, Bank of Tokyo-Mitsubishi UFJ (Singapore and Jakarta), DBS and OCBC.
The deal is guaranteed by the parent Adaro Energy. Proceeds are for capital expenditure, working capital and general corporate purposes.
Malaysia
First Solar Malaysia’s RM450 million seven-year facility has been completed on a club basis through CIMB Investment Bank, Maybank Investment Bank and RHB Investment Bank.
Final allocations saw each arranger commit equally to the financing.
Proceeds are for the construction of manufacturing plants.
New Zealand
A NZ$200 million multi-tranche revolver facility for Ngai Tahu Holdings was completed last Thursday (June 30) through sole bookrunner and mandated lead arranger Bank of New Zealand.
The facility is split into a NZ$40 million one year, four month tranche, two NZ$80 million portions with tenors of three year, four month and five year, four month respectively.
Syndication saw Commonwealth Bank of Australia and Westpac come in as participants. Both banks contributed equally to the transaction.
Proceeds are to refinance a NZ$200 million facility for Te Runanga o Ngai Tahu signed in 2008.
Turners & Growers’ NZ$125 million three-year dual-tranche facility was inked last Thursday (June 30) through sole mandated lead arranger Bank of New Zealand. The loan package consists of a NZ$100 million term loan and a NZ$25 million revolver.
Syndication saw Rabobank join in as a lender, and both banks held equal portions. Proceeds are for refinancing and for working capital purposes.
University of Auckland’s NZ$210 million three-year revolver was signed last week (June 30) on a club basis through joint mandated lead arrangers ANZ and Commonwealth Bank of Australia who committed equally to the facility.
Proceeds are for general corporate purposes.
Singapore
A $1.55 billion multi-tranche revolver for Gunvor Group has been signed, of which $493 million was syndicated in Asia for Gunvor Singapore.
The Asian portion is split into a $463 million 364-day tranche and a $30 million three-year facility, priced at 165bp and 240bp over Libor respectively.
In the Asian tranches, A BILLION Amro, BNP Paribas, China Development Bank, Credit Agricole, Credit Suisse, HSBC, ING, Natixis, Rabobank International and Societe Generale joined in as bookrunners while SMBC participated as a senior mandated lead arranger. DBS, Garanti Bank International, Industrial & Commercial Bank of China, KfW IPEX-Bank, Raiffeisen Bank International, Royal Bank of Scotland and UBS came in as mandated lead arrangers.
Lead arrangers are Arab Petroleum Investment Corp, Bank of Baroda, DZ Bank and United Overseas Bank while Bank of Taiwan, Chinatrust Commercial Bank, First Commercial Bank, First Gulf Bank, Mega International Commercial Bank came in as arrangers with participants Bangkok Bank, Bank of East and Bank Negara Indonesia rounding up with syndicate.
Proceeds are to refinance the existing $1.1 billion facility signed last year and for working capital purposes.
Singtel Group Treasury completed a S$2.2 billion self-arranged facility last week through a consortium of 12 mandated lead arrangers.
The three-year revolver is guaranteed by Singapore Telecommunications.
ANZ, Bank of America, Bank of Tokyo-Mitsubishi UFJ, Citibank, DBS, Deutsche Bank, HSBC, Mizuho Corporate Bank, OCBC, Standard Chartered, SMBC and United Overseas Bank committed equally to the financing.
Proceeds are for debt repayment and general corporate purposes.
Taiwan
Coxon Precise Industrial has secured a NT$1.2 billion-equivalent fundraising through bookrunners Chinatrust Commercial Bank, E.Sun Commercial Bank, Hua Nan Commercial Bank and Taiwan Cooperative Bank. The deal is upsized from NT$1 billion-equivalent.
The three-year revolver is priced at 80bp over the secondary CP rate if drawn in NT$ and priced at 90bp over Libor if drawn in US$.
Final allocations saw the bookrunners pledge NT$250 million each, except for Hua Nan Commercial Bank, which gave NT$300 million. Shanghai Commercial & Savings Bank rounded up the syndicate with NT$150 million.
Proceeds are for working capital purposes.
A $50 million five-year term loan for Jiangsu Canyang Optoelectronics has been signed through joint bookrunners Bank SinoPac, Land Bank of Taiwan and Taipei Fubon Commercial Bank. The facility is priced at 110bp over three-month Libor, and will be repaid in seven semi-annual installments after a two-year grace period.
Syndication saw Chang Hwa Commercial Bank, E.Sun Commercial Bank, Far Eastern International Bank and Ta Chong Bank join in as mandated lead arrangers while Yuanta Bank came in as a participant.
Proceeds are for capital expenditure purposes.
Pou Chen Corp has obtained a NT$13 billion dual-tranche facility through a bookrunners E.Sun Commercial Bank, First Commercial bank, Standard Chartered, SMBC and Taipei Fubon Commercial Bank.
The five-year facility is split into a NT$7 billion term loan and a NT$6 billion revolving credit which are priced at 50bp over the 90-day or 180-day secondary CP rate with a minimum after-tax interest rate of 1.5% in the first two years after the signing date.
Final allocations saw the bookrunners First Commercial Bank take NT$1.5 billion while E.Sun Commercial Bank, SMBC and Taipei Fubon Commercial Bank committed NT$1.4 billion each. Standard Chartered contributed NT$1.3 billion while Bank Sinopac and mandated lead arrangers Bank of Tokyo-Mitsubishi UFJ and Shanghai Commercial & Savings Bank gave NT$1 billion each. Managers Bank of East Asia, DBS, Industrial Bank of Taiwan, Taipei Fubon Commercial Bank and Taiwan Shin Kong Commercial Bank ended up with NT$600 million each.
Proceeds are to refinance the NT$7 billion facility signed in 2008 and for working capital purposes.
Scientech Wafer Technology Corp’s NT$800 million five-year dual-tranche facility was completed last week (June 27) through sole bookrunner and mandated lead arranger Chinatrust Commercial Bank.
The transaction comprises a NT$700 million term loan and a NT$100 million revolver, priced at 87bp and 125bp over the secondary CP rate respectively.
Final allocations saw the bookrunner pledge NT$220 million while Agricultural Bank of Taiwan came in as co-arranger with NT$130 million. Managers Hua Nan Commercial Bank and Taipei Fubon Commercial Bank lent NT$85 million each while Bank SinoPac, Taiwan Business Bank and Taiwan Cooperative Bank gave NT$75 million each. Bank of Kaohsiung rounded up the syndicate with NT$55 million.
Proceeds are to refinance existing indebtedness and for working capital purposes.
