Babcock & Brown InternationalÆs A$2.35 billion three year revolving credit has been completed via mandated arranger BOS International. The facility was upsized from A$1.35 billion.
Participants are ANZ Bank, Bank of America, Bayerische Hypo-und Vereinsbank, BayernLB, BNP Paribas, Calyon, Citigroup, Commonwealth Bank of Australia, DBS Bank, Hypo Public Finance Bank, HSH Nordbank. Suncorp Metway, KfW, National Australia Bank, Oversea-Chinese Banking Corp, Societe Generale, United Overseas Bank, Westpac and WestLB.
Seven Media Group has successfully raised Ç1.53 billion from the market via a multi-tranche facility. The loan comprises Ç1.53 billion and Ç150 million portions with a spread of 237.5bp over BBSY and a Ç120 million six year financing that offers a margin of 212.5bp.
Mandated arrangers Citibank (Australia), Goldman Sachs JBWere, Mizuho Corporate Bank and Morgan Stanley Dean Witter Australia Finance took Ç110.3 million apiece while co-arrangers Aozora Bank, Bayerische Hypo-und Vereinsbank (Hong Kong), BNP Paribas, BOS International (Australia), Calyon (Australia), GE Capital Finance, ING Bank (Hong Kong), Royal Bank of Scotland and WestLB (Sydney) provided Ç110.3 million each. Lead manager Westpac Institutional joined with Ç36 million and Commonwealth Bank of Australia and Industrial & Commercial Bank of China ended up with Ç30 million each.
The funds will be used to support the A$735 million Kohlberg Kravis & Roberts-led leveraged buyout of Seven Media Group. Kohlberg Kravis & Roberts and Seven Network are the sponsors.
China
Nanjing TankerÆs $108 million 12 year financing has been launched into general syndication via mandated arrangers Societe Generale and Bank of China.
The margin is 49bp over Libor. Banks committing $15 million or above will get the arranger title and receive a fee of 22bp for an all-in of 51.7bp over Libor.
Proceeds are to fund the purchase of three oil tankers. Banks are scheduled to revert by March 16.
Hong Kong
Gold Peak IndustriesÆ HK$300 million three year amortising loan has been launched into general syndication via mandated arrangers Bank of China and China Construction Bank.
Banks have been invited on three levels. Arrangers contributing $40 million or above receive a front-end fee of 65bp for an all-in of 89 over Libor. Senior managers committing HK$30 million to HK$39 million get 60bp with an all-in of 87bp while managers providing HK$20 million to HK$29 million receive 60bp for an all-in of 85bp. Banks are to respond by March 23.
Proceeds are to refinance an existing HK$450 million facility that was signed in February 2004.
Allocations have been finalised for IFC Development Corporate FinanceÆs HK$17.35 billion five year financing. The deal was upsized from HK$14.8 billion due to an overwhelming response from the market. A total of 33 banks are participating in the facility.
The fundraising pays a margin of 37bp over Hibor. Co-arrangers providing HK$200 million or above get 25bp, senior lead managers committing HK$100 million to HK$190 million earn 22.5bp and lead managers taking HK$50 million to HK$90 million receive 20bp.
Mandated arrangers Bank of China (Hong Kong), Bank of East Asia, Bank of Tokyo-Mitsubishi UFJ, Calyon, Fortis Bank (Hong Kong), HSBC, Mizuho Corporate Bank and Sumitomo Mitsui Banking Corp committed HK$1 billion apiece, BNP Paribas (Hong Kong), Citigroup, DBS Bank and Standard Chartered Bank (Hong Kong) contributed HK$80 million each and ABN Amro, Bank of Communication (Hong Kong), BayernLB (Hong Kong), CCB International Finance, Cooperatieve Centrale Raiffeisen-Boerenleen Bank and Industrial & Commercial Bank of China (Asia) took HK$50 million apiece. Co-arrangers Shanghai Commercial Bank joined with a ticket of HK$50 million, Agricultural Bank of China (Hong Kong) pledged HK$40 million, Wing Lung Bank provided HK$30 million and Bangkok Bank (Hong Kong), BBVA (Hong Kong), KBC Bank (Hong Kong) and Scotiabank ended up with HK$20 million each.
Senior lead managers Bank of China (Tokyo) chipped in HK$190 million and Nanyang Commercial bank, Public Bank (Hong Kong) and Tai Fung Bank held HK$100 million apiece. Lead managers Mega International Commercial Bank (Hong Kong) lent HK$60 million and Bank of China (Macau) and Chong Hing Bank joined with commitments of HK$50 million apiece.
Proceeds will be used for general corporate purposes and signing is expected to be held on March 12.
Sanda Kan HoldingsÆ $92 million facility has been completed. Mandated arrangers DBS Bank, Standard Chartered Bank and Sumitomo Mitsui Banking Corp took $24 million apiece while arrangers Bank of Tokyo-Mitsubishi UFJ and Industrial & Commercial Bank of China joined in syndication with tickets of $15 million and $5 million respectively.
The deal is split into a $77 million term loan and a $15 million revolver with a margin of 235bp over Libor and features an average life of 4.43 years. Proceeds are for general corporate and refinancing purposes.
Bank of China has been mandated to arrange Western Harbour TunnelÆs HK$3.5 billion financing that will be used to refinance an existing HK$3.5 billion dual tranche loan completed in July 2002.
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