Loan Week

Loan Week, March 15-21

A roundup of the latest syndicated loan market news.

China


Lifan Industry (Group) and Chongqing Lifan Industry (Group) Import & Export have secured a $45 million one-year term loan through sole bookrunner and mandated lead arranger BNP Paribas.

Syndication saw Dah Sing Bank, First Commercial Bank and Taiwan Cooperative Bank join in as mandated lead arrangers while Bank of Taiwan, Chinatrust Commercial Bank and Mega International Commercial Bank came in as senior managers.

Proceeds are to refinance existing indebtedness.

 

India


C&C Constructions has secured a Rs11.9 billion loan package through sole bookrunner and mandated lead arranger State Bank of India.

The facility is split into a Rs3 billion 10-year term loan, a Rs4.3 billion 10-year term loan, a Rs1.4 billion seven-year term loan and a Rs3.1 billion one-year portion.

Syndication saw Axis Bank, Bajaj Finance, Central Bank of India, ICICI Bank, IDBI Bank, IndusInd Bank, L&T Infrastructure Finance, Oriental Bank of Commerce, SREI Equipment Capital, State Bank of Hyderabad and State Bank of Patiala join in as participants.

Proceeds are to repay existing indebtedness.

Island Star Mall Developers has obtained a Rs3.5 billion credit facility through sole mandated lead arranger Standard Chartered.

Final allocations saw the lead provide Rs1.8 billion while participants Bank of Baroda and Bank of India lent Rs915 million and Rs750 million, respectively.

Proceeds are to refinance existing indebtedness and capital expenditures.

Mangalore Refinery & Petrochemicals has completed a $400 million loan financing through sole bookrunner State Bank of India.

The facility consists of a $350 million five-year and three-month term loan and a $50 million seven-year and six month portion.

Final allocations saw State Bank of India lend $250 million while mandated lead arrangers Bank of Baroda, DBS and First Gulf Bank PJSC contributed $50 million each.

Proceeds are to support the further expansion of an existing refinery.

Piramal Enterprises has sealed a Rs3.5 billion six-year term loan through sole bookrunner and mandated lead arranger Axis Bank.

The single tranche facility will be repaid by 10 semi-annual installments.

Final allocations saw the lead take Rs1.5 billion while participants Bank of Maharashtra and Indian Bank provided Rs1.8 billion and Rs250 million, respectively.

Proceeds are for capital expenditure purposes.

 

Indonesia


Federal International Finance has concluded a $150 million three-year and six-month financing through joint bookrunners HSBC and Mizuho.

The facility is spilt into a $50 million tranche, a $40 million tranche and a $60 million portion.

Final allocations saw the leads lend $30 million each while participant JBIC contributed $50 million. Bank of Fukuoka, Chiba Bank, Chugoku Bank and Shizuoka Bank rounded up the deal with $10 million each.

Proceeds are for working capital purposes.

 

Japan


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

Syndication saw BNP Paribas and other undisclosed banks join in as participants.

Proceeds are to repay debt.

 

South Korea


Gapyeong Yangju Gangkoon Corp has completed a ¥130.6 billion facility through sole bookrunner and mandated lead arranger Wooribank.

The facility is split into a ¥125.6 billion 22-year-and-two-month term loan and a ¥5 billion 20-year standby facility.

Final allocations saw the lead provide ¥61.6 billion while participants Dongbu Life Insurance, Hanhwa General Insurance, Mirae Asset Life Insurance and Shinhan Life Insurance pledged ¥17.3 billion each.

Proceeds are for the construction of military barracks and residence purposes.

 

Taiwan


China American Petrochemical has signed a NT$6 billion five-year term loan through sole bookrunner and mandated lead arranger Bank of Taiwan.

Final allocations saw the lead take NT$2.6 billion while participant Agricultural Bank of Taiwan lent NT$800 million. Participants Chang Hwa Commercial Bank, Taishin International Bank and Yuanta Commercial Bank gave NT$600 million each while Bank SinoPac and E.Sun Commercial Bank contributed NT$300 million each. Hua Nan Commercial Bank rounded the group with NT$200 million.

Proceeds are for exiting financing.

CityVision Development, JetKing Holdings, Link Mart Enterprise and Star City International have completed a $435 million two-year term loan through bookrunners Bank Sinopac, Bank of Taiwan and Cathay United Bank.

The facility is split into a $190 million tranche, a $120 million tranche, a $100 million tranche and a $25 million portion.

Syndication saw China Development Industrial Bank join in as mandated lead arrangers while 11 other banks joined in at lower tiers.

Proceeds are for securities purchasing purposes and to repay existing indebtedness.

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