BIS IndustriesÆ A$905 million multi tranche facility has been signed via mandated arrangers ANZ Investment Bank and Credit Suisse. A total of 24 undisclosed banks joined in syndication.
The six-year financing comprises a A$565 million bullet loan, a A$275 million term portion and a A$65 million revolver.
Proceeds are to refinance an existing A$1.69 billion Kohlberg Kravis Roberts & Co (KKR)-led acquisition of BramblesÆ Cleanaway Australia and New Zealand. KKR sold the company to Transpacific Industries in May 2007.
ING Office FundÆs A$1.425 billion dual-tranche financing was signed yesterday (June 14) via mandated arrangers Citi, ING Bank and Westpac. Citi and Westpac led the books.
The facility is divided into a A$570 million three year revolving credit, and a A$855 million five year revolver with pricing undisclosed.
Syndication saw twelve other banks joining as participants. ANZ Investment Bank, BNP Paribas, Commonwealth Bank of Australia, National Australia Bank, Sumitomo Mitsui Banking Corp and United Overseas Bank committed A$100 million apiece while Bank of America, HSBC, JP Morgan, Mizuho Corporate Bank, Royal Bank of Scotland and Toronto Dominion contributed A$75 million each.
Proceeds are to refinance existing debt and for general corporate purposes.
China
Gracious SkyÆs HK$1.5 billion seven year bullet facility was signed on June 13 as a club deal via a consortium of 10 banks. China Merchants Group is acting as guarantor in the deal.
The deal pays a spread of 32bp over Hibor.
Mandated lead arrangers were Agricultural Bank of China (Hong Kong Branch), Bank of China (Hong Kong Branch), BayernLB (Hong Kong Branch), Calyon, Commonwealth Bank of Australia, DBS Bank, ING Bank, KBC Bank, Mizuho Corporate Bank and Sumitomo Mitsui Banking Corp.
Final allocations saw each bank contributing HK$150 million apiece. Proceeds are to refinance existing facilities.
Hong Kong
A HK$2.1 billion five year term loan for Beijing Enterprises Holdings will be inked today (June 15) via a syndicate of 14 banks.
Mandated arrangers Bank of China, BNP Paribas, Calyon, Rabobank, DBS Bank, Mizuho Corporate Bank and arranger Agricultural Bank of China lent HK$200 million apiece.
Arrangers China Construction Bank provided HK$138 million while Export Development Bank of Canada took HK$116 million. DZ Bank and Wing Lung Bank held HK$111 million each while Bank of Tokyo-Mitsubishi UFJ and Bank of China (Singapore) contributed HK$83.5 million apiece. Lead manager Tai Fung Bank ended up with HK$57 million.
The facility features a spread of 28.5bp over Hibor. Proceeds are to support general corporate purposes.
A HK$1.2 billion dual-tranche fundraiser for Peace Mark (Holdings) was closed on June 12 after receiving an overwhelming response from the market. The deal was upsized from HK$900 million
Joining original mandated arrangers and bookrunners ABN AMRO and ING Bank as equal status arrangers were Agricultural Bank of China (Hong Kong Branch), Banco Bilbao Vizcaya Argentaria (Hong Kong Branch), Bank of Tokyo-Mitsubishi UFJ, Commonwealth Bank of Australia, Fortis Bank (Guangzhou Branch), Nanyang Commercial Bank and United Overseas Bank.
The financing is split into a HK$960 million term loan and a HK$240 million revolver, both with tenors of four years and an average life of 3.2 years.
Final allocations saw the mandated arrangers providing HK$70 million apiece with the exception of Agricultural Bank of China (Hong Kong Branch) and Banco Bilbao Vizcaya Argentaria (Hong Kong Branch) which held HK$60 million each.
Coming in as lead arrangers, all contributing HK$45 million apiece were Arab Bank (Singapore Branch), Bank of China (Macau Branch), Bank of Nova Scotia, BNP Paribas, First Commercial Bank, Nordea Bank and Taiwan Business Bank.
Senior managers Bank of Taiwan, Fubon Bank (Hong Kong Branch), Maybank, Public Bank and Taiwan Cooperative Bank (Offshore Banking) committed HK$30 million each. DBS Bank (Hong Kong Branch), Mizuho Bank, Shanghai Commercial Bank, Shanghai Commercial & Savings Bank and Wing Hang Bank held HK$25 million apiece.
Proceeds are to partially refinance an existing HK$630 million facility signed in April 2005 and for general corporate purposes.
Sun Hung Kai PropertiesÆ HK$15.25 billion six year revolver has been completed with a consortium of 26 banks participating. The facility was oversubscribed and has been upsized from HK$14.5 billion.
Mandated arrangers Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Calyon, HSBC, Industrial & Commercial Bank of China (Asia), Mizuho Corporate Bank, Rabobank, Standard Chartered and Sumitomo Mitsui Banking Corp each committed HK$1 billion.
Co-arrangers Bank of China (Hong Kong) provided HK$900 million and Fortis Bank contributed HK$800 million. Banco Bilbao Vizcaya Argentaria, Bangkok Bank, Bank of Communications, Bank of East Asia and Hang Seng Bank took HK$500 million apiece. CB International Finance held HK$400 million while Agricultural Bank of China, Citi and Wing Lung Bank lent HK$300 million each. Bank of China (Singapore) and Shanghai Commercial Bank pledged HK$200 million each. Hua Nan Commercial Bank, Maybank and Tai Fung Bank held HK$100 million apiece while lead manager Scotiabank ended up with HK$50 million.
The funds are to support general corporate needs.
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