FKP and Australian Retirement HomesÆs A$375 million three-year bullet loan has been inked via sole bookrunner ANZ, which held A$75 million.
Lenders Bank of New Zealand and Suncorp Metway each provided A$150 million.
Proceeds are to refinance an existing debt facility.
A A$300 million three-year credit for Valad Commercial Management has been completed via sole lead arranger Commonwealth Bank of Australia.
The three-year loan comprises a A$211 million facility, a A$74.5 million debt and a A$14.5 million portion.
Commonwealth Bank of Australia and lender Bank of New Zealand committed equal portions to the deal.
China
ASE Assembly & Test (Shanghai)Æs $147 million five-year term loan has been signed via mandated lead arrangers and bookrunners DBS Bank and HSBC. The facility was downsized from $190 million.
The deal features a margin of 90bp over Libor and an average life of four years. Advanced Semiconductor Engineering (Taipei) is the parent company.
Final allocations saw the bookrunners and five other banks that joined in as equal-status arrangers contribute $20 million apiece. The banks were Agricultural Bank of China, Bangkok Bank, Bank of Tokyo-Mitsubishi UFJ, Sumitomo-Mitsui Banking Corporation and Wing Hang Bank.
Coming in as a senior manager was Bank of Shanghai (Pudong Branch), which lent $7 million.
The funds are to partly refinance existing debt and for general corporate purposes.
Huawei-3Com HoldingsÆ $800 million dual tranche LBO financing led by ABN AMRO, Bank of China, Citi, HSBC and UBS has hit a snag as Bain Capital terminated an agreement with 3Com amidst concerns raised by US regulatory bodies on national security.
3ComÆs subsidiary, TippingPoint Technologies, is at the heart of the concern as it manufactures anti-hacking software and has contracts with the US department of defence. Bain Capital and Huawei are leading the buyout with 83.5% and 16.5% respectively.
A banker close to the deal said the transaction has been paused and might fall through, despite having been previously funded by the leads.
Sub-underwriting saw Aozora Bank, China Development Bank, Rabobank, Sumitomo Mitsui Banking Corporation and WestLB join at the top as equal-status arrangers, while Bank of Nova Scotia and Chinatrust Commercial & Savings Bank came in as lead arrangers.
The five-year, non-recourse loan is split into a $750 million credit and a $50 million revolver. The deal offers spreads of 306.25bp and 300bp over Libor respectively.
A separate $400 million financing is being raised in the United States.
Bank of China inked a Rmb4.03 billion 18-year dual tranche financing for Si Chuan China Power Investment Fuxi Power Co on March 19.
The loan is split into a Rmb3.55 billion 18-year credit and a Rmb480 million one-year portion.
Final allocations saw Bank of China provide Rmb1.81 billion, while lender Industrial & Commercial Bank of China contributed Rmb1.33 billion. China Construction Bank ended up with Rmb890 million.
Hong Kong
CRE BeverageÆs HK$1.8 billion five-year fundraising received an enthusiastic market response and was inked on April 1 via mandated arrangers Agricultural Bank of China, Bank of China (Hong Kong), Bank of Tokyo-Mitsubishi UFJ and Mizuho Corporate Bank. The facility was upsized from HK$1.425 million.
CR Snow is acting as the guarantor. The funds are for general corporate purposes and for the refinancing of existing debt. The full syndicate was undisclosed at the time of going to press.
Syndication of Pacific Andes Treasury ManagementÆs $160 million four-year dual tranche financing has been extended for another few weeks to accommodate lenders. The mandated leads and bookrunners are 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. Several other commitments have been received, but are still undisclosed.
The syndication is scheduled to close in mid-April. Proceeds are to refinance an existing debt signed in July 2006 and for working capital purposes.
Taiwan
First Commercial Bank has been awarded a working mandate to arrange a NT$4.75 billion five-year fundraising for Gintech Energy Corporation.
The formal mandate is expected to be confirmed next week with syndication to follow soon after.
Leadtek GlobalÆs $700 million three-year fundraising is being enthusiastically received via lead arrangers ABN AMRO, Bank of Taiwan, Bank of Tokyo-Mitsubishi UFJ, Cathay United Bank, Chinatrust Commercial Bank, DBS Bank, HSBC, ING Bank, Sumitomo-Mitsui Banking Corporation and Taiwan Cooperative Bank. The loan amount was increased from $450 million as the MLA group was expanded.
The deal features an extension option of two years and offers a spread of 62.5bp over Libor. Chi Mei Optoelectronics is acting as the guarantor.
So far syndication has seen Standard Chartered Bank joining in as an equal-status arranger, while one commitment has been received in general syndication. The facility amount may be increased yet further to $900 million due to the good response in the market.
Syndication is expected to close towards the end of April. Proceeds are for working capital purposes.
Bank of China, Chinatrust Commercial Bank and Citi launched Pou Chen CorporationÆs NT$5 billion five-year credit into senior and general syndication simultaneously on March 28.
The margin is priced at 43.5bp over the secondary CP rate.
Syndication is slated to close on April 25. The funds are to refinance existing debt and for working capital requirements.
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