loan-week-march-2026

Loan week, March 20-26

A roundup of the latest syndicated loan market news.

Australia

Hasting Funds Management's A$80 million dual tranche fundraising has been signed via ANZ and Westpac on a club basis.

The leads each contributed A$40 million to the loan, which is divided into A$59.6 million and A$20.4 million bridge facilities. Proceeds are for general corporate purposes.

A $300 million three-year term loan for Woodside Petroleum was launched into syndication on March 17 via mandated lead arrangers and bookrunners ANZ and Bank of Tokyo-Mitsubishi UFJ.

Proceeds are for general corporate purposes and banks will have until April 16 to revert.

India

BGR Energy Systems' Rs38.5 billion facility was inked last week via sole mandated lead arranger and bookrunner IDBI Bank.

The deal comprises a Rs7 billion bank guarantee facility and a Rs31.5 billion letter of credit.

Final allocations saw the bookrunner lend Rs8.3 billion, while participant Bank of India gave Rs4.7 billion. Allahabad Bank provided Rs4.6 billion and Indian Bank Rs4 billion. Central Bank of India and Axis Bank committed Rs3.7 billion and Rs2.8 billion respectively, while Andhra Bank, Corporation Bank and State Bank of Bikaner & Jaipur took Rs2.3 billion each. Karur Vysya Bank and Syndicate Bank ended up with commitments of Rs1.8 billion apiece.

Proceeds are for working capital and receivables-backed financing purposes.

Syndication of Delhi Airport Metro Express's Rs2 billion dual currency financing was sealed on March 24 via sole bookrunner Axis Bank.

The 17.25-year single tranche term loan comprises Rs17.6 billion from nine domestic banks and a US dollar commitment of $54 million from IIFCL (UK). Pricing of the local currency component is at an interest of 13.5% per annum, while the external commercial borrowing (ECB) portion pays a spread of 485bp over six-month Libor.

Final allocations saw the lead provide Rs3.3 billion, while participant IIFCL (UK) committed $54 million. UCO Bank lent Rs2.3 billion and Bank of India, Canara Bank, Central Bank of India and Dena Bank each provided Rs2 billion. Allahabad Bank and Punjab & Sind Bank ended up with Rs1.5 billion apiece, while Andhra Bank rounded off the syndicate with a commitment of Rs1 billion.

Proceeds are to finance the development of a 23km Delhi Metro Airport Express Line extension in New Delhi, India.

Sterling Infotech Group's Rs4.3 billion secured loan was sealed on March 19 via sole bookrunner SBI Capital Markets. The three year term loan has a fixed interest rate of 0.25%.

Final allocations saw the lead provide Rs2 billion, while participant Union Bank of India lent Rs1.3 billion and Andhra Bank joined in with Rs1 billion.

Proceeds are for debt repayment. 

A Rs6.3 billion debt package for Vijayawada Tollway Private, an SPV for the NH5 road expansion project, was signed last week via sole bookrunner SBI Capital Markets.

The deal is split into a Rs5.9 billion 13-year term loan and a Rs400 million three-year term loan.

Final allocations saw the lead contribute Rs1.6 billion, while participants Canara Bank and Infrastructure Finance Development joined in with Rs978 million and Rs950 million respectively. State Bank of Bikaner & Jaipur, State Bank of Hyderabad and Union Bank of India lent Rs500 million apiece, while State Bank of Patiala ended up with Rs400 million. State Bank of Mysore provided Rs350 million, while Bank of Baroda and Corporation Bank rounded off the syndicate with Rs250 million each.

Proceeds are for project financing purposes.

Indonesia

Excelcomindo Pratama's $214 million club deal was inked on March 23 via Standard Chartered Bank and Royal Bank of Scotland.

The size of the overall facility is $428 million, of which a $214 million portion was completed in December 2008.

Proceeds are for the procurement of Ericsson equipment from Sweden and Indonesia.

Japan

Mandated lead arrangers and bookrunners BNP Paribas, Citi and J.P. Morgan have successfully closed a $1.87 billion multi-currency financing for Sony Corp with HSBC joining as an equal status arranger. Deutsche Bank, Societe Generale and Standard Chartered Bank came in as lead arrangers, while China Construction Bank and ING Bank participated as arrangers.

The three-year CB-backed facility offered by the consortium of international banks is unique in comparison to other similar transactions, which usually feature a tenor of 364 days.

Proceeds are to refinance a $4.28 billion five-year tranche of a $5.35 billion facility dated March 2004. Signing is targeted for the end of this week or early next week.

Malaysia


A $500 million debt facility for Klebang Capital has been closed as a club deal via mandated lead arrangers Bank of Tokyo-Mitsubishi UFJ, DBS and Oversea-Chinese Banking Corp.

The three-year loan, which is guaranteed by Khazanah Nasional, is to refinance an equal sized bilateral bridge facility provided by Bank of Tokyo-Mitsubishi UFJ. Signing will take place on March 31.

Singapore

Olam International has secured a $170 million one-year club loan from Bank of Tokyo-Mitsubishi UFJ, ING Bank, Standard Chartered Bank and Sumitomo Mitsui Banking Corp.

Proceeds are for refinancing and general corporate purposes.

Syndication of Senoko Power's S$2.9 billion multi-tranche facility was sealed on March 23 via mandated lead arrangers ANZ, Bank of Tokyo-Mitsubishi UFJ, DBS, Dexia, Dresdner Bank, KBC Bank, Mizuho Corporate Bank, Natixis, Oversea-Chinese Banking Corp and Royal Bank of Scotland. With the exception of Dexia, all the mandated leads are also acting as bookrunners .

The deal is split into S$1.7 billion and S$713 million bridge facilities, a S$100 million revolver and a S$425 million credit.

Syndication saw Sumitomo Trust & Banking Corp join in as an arranger with a S$100 million ticket.

Proceeds are to support the S$3.7 billion acquisition of Senoko Power by Lion Power Holdings. which was completed in late 2008.

South Korea

Samsung Oil & Gas USA Corp's $100 million six-year facility has been signed via Calyon and ING on a club basis.

The debt pays a spread of 270bp over Libor. Final allocations saw the leads provide $50 million apiece.

Proceeds are for the acquisition of an oilfield.

Taiwan

Syndication of Chung Nan Textile's NT$1.4 billion five-year fundraising is expected to close on March 31 via bookrunner and original mandated lead arranger Land Bank of Taiwan.

The loan comprises a NT$1.25 billion term loan and a NT$150 million revolver priced at 160bp over the primary CP rate, with a margin floor of 3.1%.

Banks are invited to join at three levels. Equal status arrangers committing NT$300 million or above get an upfront fee of 30bp, whereas banks joining with NT$200 million to NT$299 million receive the joint arranger title for a fee of 15bp. Participants pledging NT$100 million earn 5bp.

Proceeds are to refinance an existing debt facility and to provide for working capital requirements.

Hotai Finance Corp's NT$2.4 billion debt was sealed yesterday (March 26) via bookrunners Chang Hwa Commercial Bank, Chinatrust Commercial Bank, Mega International Commercial Bank, Mizuho Corporate Bank and Taiwan Cooperative Bank. The facility was oversubscribed and upsized from NT$2 billion.

The 3.5-year term loan pays a spread of 120bp over the secondary CP rate, with a commitment fee of 15bp.

The five bookrunners gave NT$230 million each and E.Sun Commercial Bank, King's Town Bank and Yuanta Commercial Bank joined in as mandated lead arrangers, also committing NT$230 million apiece. Co-arrangers Agricultural Bank of Taiwan, Bank of Taiwan and Hua Nan Commercial Bank provided NT$160 million each while lead manager Shanghai Commercial & Savings Bank ended up with NT$80 million.

Proceeds are to refinance an existing debt facility and for working capital purposes.

Synnex Technology International Corp's NT$5 billion five-year dual tranche facility was launched into syndication last Tuesday via mandated lead arrangers Bank of Taiwan, Chang Hwa Commercial Bank, Hua Nan Commercial Bank, Mega International Commercial Bank and Taipei Fubon Commercial Bank.

The debt is split into a NT$3 billion term loan and a NT$2 billion revolver, paying a spread of 80bp over the secondary CP rate. There is a margin floor of 1.8% and a commitment fee of 10bp.

Banks have been invited to join as equal-status arrangers with a commitment of at least NT$750 million for an upfront fee of 22.5bp.

Proceeds are to refinance the borrower's existing convertible bond facility and for working capital purposes.

Syndication of Taiwan Paiho's NT$1.4 billion financing has been closed and upsized via coordinating arrangers Bank of Taiwan, China Development Industrial Bank, Chinatrust Commercial Bank, DBS, Hua Nan Commercial Bank and Land Bank of Taiwan.

The four-year term loan is priced at 135bp over the 90-day, 120-day or 180-day secondary CP rate. Secured by land, factory and machinery, the facility offers a commitment fee of 15bp.

Final allocations saw the mandated leads hold NT$200 million each, while participants Agricultural Bank of Taiwan and Chang Hwa Commercial Bank joined in with NT$100 million apiece.

The signing date is slated for March 30. Proceeds are for working capital purposes.

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