Loan Week, March 14-20

A roundup of the latest syndicated loan market news.

Australia

Newcastle Coal Infrastructure Group – NCIG has obtained a $1.7 billion facility through underwriters and mandated lead arrangers ANZ, Commonwealth Bank of Australia and SMBC.

The debt package comprises a $141 million and a $634 million three-year tranche, a $564 million five-year portion and a $352 million seven-year tranche.

Proceeds are for project financing.

China

China Lesso Group has concluded a $135 million three-year term loan through joint bookrunners CTBC Bank and Taipei Fubon Commercial Bank.

This is a debut credit facility for the borrower.

Syndication saw Bank of Taiwan, Chang Hwa Commercial Bank, First Commercial Bank, Hua Nan Commercial Bank, Land Bank of Taiwan and Taiwan Cooperative Bank come in as mandated lead arrangers.

Proceeds are to repay existing indebtedness.

China Resources Power Holdings has signed a HK$7.8 billion five-year term loan through joint bookrunners Bank of Tokyo-Mitsubishi UFJ, China Construction Bank, Commonwealth Bank of Australia, ICBC (Asia), Mizuho Bank, OCBC, Taipei Fubon Commercial Bank and UOB.

The facility is priced at 153bp over Hibor.

Final allocation saw Bank of Tokyo-Mitsubishi UFJ, China Construction Bank, Commonwealth Bank of Australia, ICBC (Asia), Mizuho Bank, OCBC, Sumitomo Mitsui Banking Corp and UOB contribute HK$800 million each while Taipei Fubon Commercial Bank lent HK$500 million. Mandated lead arranger Maybank took HK$300 million while lead arrangers Hua Nan Commercial Bank and Taiwan Cooperative Bank provide HK$200 million apiece. Arrangers CTBC Bank and Land Bank of Taiwan came in with HK$100 million each to complete the syndication.

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

China Sincere has inked a HK$1.1 billion three-year term loan through sole bookrunner Mizuho Bank.

New World Department Store China is the guarantor of the facility.

Syndication saw ICBC join in as mandated lead arranger while Chang Hwa Commercial Bank and Hua Nan Commercial Bank came in as arrangers.

Proceeds are for working capital purposes.

Hong Kong

Jet Union Development has sealed a HK$2.5 billion 3.5-year financing through mandated lead arrangers ANZ, China Construction Bank and SMBC on a club basis.

Proceeds are for real estate development purposes.

Japan

Sumitomo Corp has obtained a $1.1 billion 364-day revolver through sole bookrunner and mandated lead arranger Citi.

Syndication saw BNP Paribas join in as participant.

Proceeds are to refinance existing indebtedness.

New Zealand

Westland Dairy Co-operative has secured a NZ$210 million revolver on a club basis through mandated lead arrangers Commonwealth Bank of Australia, HSBC and Westpac.

The facility is split into a NZ$110 million one-year tranche and a NZ$100 million three-year portion.

Final allocations saw Westpac commit NZ$99 million while Commonwealth Bank of Australia pledge NZ$75 million. HSBC concluded the syndicate with NZ$37 million.

Proceeds are for general corporate purposes.

Singapore

Wii Pte has obtained a $2.5 billion loan package through joint bookrunner BNP Paribas, Maybank, Mizuho Bank, OCBC, Rabobank, SMBC and Westpac.

The facility is split into a $730 million three-year revolving credit facility and a $1.8 billion five-year portion.

Syndication saw Bank of Tokyo-Mitsubishi UFJ, China Construction Bank, Credit Agricole and National Bank of Abu Dhabi join in as mandated lead arrangers while 19 other banks came in at lower tiers.

Proceeds are for general corporate purposes.

Taiwan

Fareast Land Development has signed a NT$7.2 billion five-year term loan through sole bookrunner Taiwan Cooperative Bank.

The financing is evenly split into two NT$3.6 billion tranches.

During syndication, Agricultural Bank of Taiwan, Bank of East Asia, CTBC Bank, Chang Hwa Commercial Bank, Hua Nan Commercial Bank, Land Bank of Taiwan, Mega International Commercial Bank, Taichung Commercial Bank and Taiwan Business Bank joined in as mandated lead arrangers.

Proceeds are to repay existing debts and for investment purposes.

LG Chem (Taiwan) has secured a $75 million one-year term loan through sole bookrunner CTBC Bank.

Final allocations saw the lead hold $30 million, while participants Bank of China, China Development Industrial Bank, Taishin International Bank and Taiwan Shin Kong Commercial Bank contributed $10 million each. Ta Chong Bank ended up with $5 million.

Proceeds are for general corporate purposes.

Thailand

Cal-Comp Electronics (Thailand) and Logistar International have completed a $180 million three-year facility through joint bookrunners E.Sun Commercial Bank, Far Eastern International Bank, Mega International Commercial Bank, Taishin International Bank and Taiwan Cooperative Bank.

The facility is equally divided into two $90 million portions.

Syndication saw Land Bank of Taiwan and Yuanta Commercial Bank come in as mandated lead arrangers while CTBC Bank, Chang Hwa Commercial Bank, China Development Industrial Bank, Shanghai Commercial & Savings Bank and Ta Chong Bank rounded up the group at lower tiers.

Proceeds are for refinancing and working capital purposes.