A $712 million-equivalent dual tranche financing for BBI Financewas signed on March 13 via a syndicate of 11 banks.
The loan comprises a A$150 million three-year bullet, an A$85 million five-year revolver, a $275 million three-year loan and a $225 million five-year credit.
ANZ, Commonwealth Bank of Australia, Dresdner Bank and Royal Bank of Australia are the original mandated arrangers. Joining the syndicate as arrangers were DnB Nor Bank, KFW Bank and Natixis, while National Australia Bank, Oversea-Chinese Banking Corporation and Societe Generale joined as managers.
Leads Commonwealth Bank of Australia and Westpac have sealed a A$1.6 billion multi-tranche fundraising for Goodman Australia Industrial Fund.
The financing is split between a A$450 million one-year debt, two A$400 million portions with tenors of three years and a A$350 million one-year credit.
The full syndicate was undisclosed at the time of going to press. Proceeds are to refinance existing debt and to fund expansion.
Iluka ResourcesÆ A$500 million five-year debt package was completed on March 12 via mandated lead arrangers and bookrunners ABN AMRO and Westpac.
Final allocations saw Westpac and ABN AMRO providing A$155 million and A$100 million respectively. Coming in as co-arrangers were nabCapital and ANZ, lending A$100 million and A$75 million respectivley. Rounding off the syndicate were HSBC (Australia) and Oversea-Chinese Banking Corportation, which took A$35 million apiece as managers.
Proceeds are to refinance existing debt and for general corporate purposes
Origin EnergyÆs A$1.54 billion multi-tranche facility has closed heavily oversubscribed despite the current market conditions. The loan was upsized from A$1.1 billion.
The dual-currency deal is divided into a A$700 million three-year revolver, a A$200 million three-year credit and a $200 million three-year bullet.
Final allocations saw underwriters ANZ, Commonwealth Bank of Australia, Deutsche Bank, JPMorgan and National Australia Bank each provide A$98 million, while co-arrangers Bank of China held A$212 million. Royal Bank of Scotland took A$98 million, while Banco Bilbao Vizcaya Argentaria, Bank of Nova Scotia, Bank of Tokyo-Mitsubishi UFJ, DnB Nor Bank and Fortis Bank took A$95 million apiece.
Lead manager Dexia Credit Local came in with A$70 million and senior managers Oversea-Chinese Banking Corporation lent A$55 million. Citi and Societe Generale committed A$50 million each while Bank of America ended up with A$30 million.
The funds will be used along with cash flow and existing facilities to finance the borrowerÆs capital expenditure requirements, including the Darling Downs Power Station Project and ongoing coal-seam gas developments.
A A$300 million dual tranche three-year bullet loan has been inked for Spotlight via sole lead National Australia Bank.
The debt is split between a A$200 million bullet and a A$100 million three-year portion.
Allocations saw the lead and co-arranger ANZ provide A$100 million each, while co-arrangers Commonwealth Bank of Australia and Bank of Western Australia contributed A$50 million apiece.
China
Jiangsu New Times Shipbuilding Shipping Export Project has obtained a $3 billion 18-year onshore bill facility via a consortium of seven banks.
Final allocations saw mandated leads Bank of China commit $1 billion, while Export-Import Bank of the Republic of China contributed $800 million.
Participants Agricultural Bank of China, China Everbright Bank and China Minsheng Bank each took $300 million. China Merchants Bank held $200 million, while Shanghai Pudong Development Bank ended up with $100 million.
Jiangsu New Century Shipbuilding and Jiangsu New Times Shipbuilding are acting as guarantors. Proceeds are to finance the acquisition of vessels.
Hong Kong
Pacific Andes Treasury ManagementÆs $160 million four-year dual tranche financing is ongoing in syndication via mandated leads and bookrunners Rabobank and Standard Chartered Bank.
The deal comprises a $100 million term loan and a $60 million revolver. The margin is priced at 125bp over Libor and features an average life of three years. The parent company, Pacific Andes International Holdings, is acting as the guarantor.
Citic Ka Wah Bank has so far joined in as an equal-status arranger with several other banks still processing their credit approvals. The syndication closing date has been extended to the end of the month.
Proceeds are to refinance existing debt signed in July 2006 and for working capital purposes.
India
State Bank of India has completed a $1 billion one-year fundraising for Aircel. A total of seven banks joined the syndicate.
Allocations saw State Bank of India providing $287.5 million and lender IDBI Bank committing $250 million. Allahabad Bank and Indian Overseas Bank each held $125 million, while United Bank of India lent $87.5 million. Indian Bank and State Bank of Patiala took $62.5 million apiece.
The funds are to support the implementation of pan-India GSM services.
Indian Overseas BankÆs $100 million three-year debt package has been inked via co-ordinating arrangers HSBC, Intesa Sanpaolo, Bank of Tokyo-Mitsubishi UFJ, DZ Bank, Bank of China, First Commercial Bank and Taiwan Cooperative Bank with each holding $9 million.
Arrangers Bank of Austria Creditanstalt and Land Bank of Taiwan provided $7 million each, while co-arrangers Banca Monte dei Paschi di Siena, Banque des Mascareignes and Hua Nan Commercial Bank contributed $5 million apiece. Export-Import Bank of the Republic of China lent $3.5 million while Bank of Kaohsiung committed $3 million. Shanghai Commercial & Savings Bank ended up with $1.5 million.
Indonesia
A $485 million two-year credit for Calipso Investment, an SPV of Bumi Resources, is being well received in syndication via sole mandated lead and bookrunner Credit Suisse.
Syndication has so far seen ICICI Bank and WestLB joining in as equal status mandated arrangers. Four more banks have also committed.
The funds are to support the acquisition of an Australian company, Herald Resources.
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