Loan Week, March 28 - April 3

A roundup of the latest syndicated loan market news.

Australia

Bradken Resources has inked a $587 million-equivalent multi-tranche facility through sole bookrunner and mandated lead arranger NAB.

Syndication saw Commonwealth Bank of Australia, SMBC and Westpac join in as mandated lead arrangers while Bank of America Merrill Lynch, HSBC and Mizuho came in as lead managers.

Proceeds are for general corporate purposes.

Hong Kong

Dongfeng Motor International has secured a €830 million one-year term loan on a club basis through mandated lead arrangers Bank of China, BNP Paribas, HSBC, ICBC and Societe Generale.

Final allocations saw HSBC provide €350 million while Bank of China pledged €200 million. BNP Paribas lent €150 million while Societe Generale committed €100 million. ICBC rounded up the syndicate with €30 million.

Proceeds are to support the acquisition of a 14% stake in Peugeot by Dongfeng Motor.

Shanda Games Holdings (HK) has obtained a $117 million two-year term loan through joint bookrunners Bank of Taiwan, Mega International Commercial Bank, Shanghai Commercial & Savings Bank and Taiwan Cooperative Bank.

Parent group Shanda Games served as the guarantor of this financing.

Syndication saw Bank of Panhsin, Shanghai Commercial Bank and Taishin International Bank come in at lower tiers.

Proceeds are for debt repaying purposes.

Maldives

Salt Bidco has inked a $150 million five-year term loan through bookrunners and mandated lead arrangers Deutsche Bank and HSBC.

Syndication saw Babson Capital, China Development Industrial Bank and Macquarie Bank join in as lead arrangers.

Proceeds are to refinance an existing facility signed in January 2013.

Pakistan

Ministry of Finance of Pakistan has concluded a $150 million 18-months credit facility through joint bookrunners Allied Bank, Credit Suisse and United Bank.

Syndication saw Bank Al Habib come in at lower tiers.

Proceeds are for general corporate purposes.

Taiwan

Synnex Technology International has signed a $412 million five-year revolving credit facility through sole bookrunner Bank of Taiwan.

The revolver is divided into a NT$8.7 billion tranche and a $128 million portion.

During syndication, Chang Hwa Commercial Bank, China Development Industrial Bank, E.Sun Commercial Bank, First Commercial Bank, Hua Nan Commercial Bank, Taipei Fubon Commercial Bank, Taishin International Bank and Taiwan Cooperative Bank joined in as participants.

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

Tatung has signed a NT$1.6 billion three-year loan package through joint bookrunners Bank of Taiwan and CTBC Bank.

The fundraising is evenly split into a term loan and a revolving credit facility.

Final allocations saw the leads contribute NT$600 million each while participant King’s Town Bank came in with NT$400 million.

Proceeds are to refinance an existing loan facility signed in Mar 2011 and for working capital purposes.

Vietnam

Vietnam National Coal-Minerals Industries Group has secured a $300 million 14-year term loan on a club basis through mandated lead arrangers Bank of Tokyo-Mitsubishi UFJ, Credit Agricole, Mizuho, Standard Chartered, SMBC and Sumitomo Mitsui Trust Bank.

Syndication saw Shizuoka Bank join in as arranger.

Proceeds are for capital expenditure for an alumina project.

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