Loan Week

Loan Week, March 1-7

A roundup of the latest syndicated loan market news.

China


Mianyang Fucheng Wanda Plaza Co has signed a Rmb700 million 10-year term loan through sole bookrunner and mandated lead arranger Bank of China.

The single-tranche facility is guaranteed by Dalian Wanda Commercial Properties.

Syndication saw Postal Savings Bank of China come in as participant.

Proceeds are for general corporate purposes.

Shanghai Sing Straits Land and Opal RE Holdings have obtained a $168 million three-year term loan through mandated lead arrangers First Commercial Bank, Standard Chartered and UOB.

The debt package comprises a $51 million tranche and a $117 million portion.

Final allocations saw the leads commit $35 million each while arranger Cathay United Bank lent $30 million. Arrangers Chinatrust Commercial Bank and KDB pledged $28 million and $5 million, respectively.

Proceeds are to refinance existing indebtedness and for capital expenditure purposes.

Sinobiz Holdings has inked a $300 million one-year term loan on a club basis through mandated lead arrangers ABN AMRO, DBS, Deutsche Bank, HSBC, ING, Natixis, Rabobank, Societe Generale and UOB.

Proceeds are for trade finance purposes.

Xinjiang Nongliushi Aluminium and Chiping Xinfa Huayu Alumina have obtained a $234 million-equivalent three-year term loan through sole bookrunner and mandated lead arranger Deutsche Bank.

The facility is split into a Rmb780 million tranche and a $111 million portion.

Syndication saw ANZ, Bank of Communications, Bank of Taiwan, Cathay United Bank, Chang Hwa Commercial Bank, First Commercial Bank, Land Bank of Taiwan, Mega International Commercial Bank and Societe Generale join in as arrangers.

Proceeds are for pre-financing contracts with Trafigura Trading (Shanghai).

 

India


AGC Networks has secured a Rs2.5 billion one-year revolving loan facility through bookrunner and mandated lead arranger Yes Bank.

Final allocations saw the lead take up Rs1.1 billion while participants CACIB, IDBI Bank and Bank of India joined in with Rs500 million, Rs482 million and Rs463 million, respectively.

Proceeds are for working capital purposes.

Indiabulls Realtech has signed a Rs48.9 billion 15-year financing through sole bookrunner and mandated lead arranger ICICI Bank.

The single tranche facility will be repaid in 42 quarterly instalments.

Final allocations saw the lead lend Rs47.9 billion while participant Central Bank of India provided Rs100 million.

Proceeds are for the development of a 1,350MW thermal power project in Sinnar SEZ, Nashik, Maharashtra, India.

NLC Tamil Nadu Power has inked a Rs9.4 billion 12-year term loan on a club basis through mandated lead arrangers Bank of India, Central Bank of India and Indian Bank.

Final allocations saw Indian Bank provide Rs5.4 billion while Bank of India and Central Bank of India contributed Rs2 billion each.

Proceeds are for the development of a thermal power plant at Tuticorin, India.

 

Indonesia


Navigat Energy has secured a $100 million five-year financing through sole bookrunner and mandated lead arranger Standard Chartered.

The facility is split into an $80 million term loan and a $20 million revolver.

Syndication saw Bank Mandiri, Cathay United Bank, Federated Project & Trade Finance Core Fund, Indonesia Eximbank join in as arrangers.

Proceeds are to refinance existing bilateral facilities, for working capital and capital expenditure purposes.

 

Thailand


Real Future Co has sealed a Bt21 billion loan package through sole bookrunner Siam Commercial Bank.

Fully-underwritten by Krung Thai Bank and Siam Commercial Bank, the facility comprises a Bt14.4 billion 10-year term loan, a Bt6 billion 10-year term loan and a Bt555 million revolving credit facility.

Final allocations saw Siam Commercial Bank and mandated lead arranger Krung Thai Bank provide Bt9.4 billion each. Participants UOB and Export-Import Bank of Thailand joined in with Bt2 billion and Bt300 million, respectively.

Proceeds are for investment, capital expenditure and working capital purposes.

 

Taiwan


Time On Investment has completed a $150 million two-year term loan through bookrunners and mandated lead arrangers Bank Sinopac, China Development Industrial Bank, Far Eastern International Bank and Industrial Bank of Taiwan.

The facility has a one-year extension option. It is priced at 275bp over Libor, and 300bp during the extended period.

Final allocations saw Industrial Bank of Taiwan provide $30 million while Bank Sinopac and China Development Industrial Bank gave $17 million each. Far Eastern International Bank took $15 million while participant Bank of East Asia pledged $15 million. Bank of Kaohsiung participated with $11 million while Bank of Taiwan, Mega International Commercial Bank, Taichung Commercial Bank, Taiwan Business Bank and Yuanta Commercial Bank rounded up the syndicate with $9 million each.

Proceeds are for refinancing and working capital purposes.
 

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