Australia
A A$3.8 billion dual tranche facility for Wesfarmers has been completed via mandated lead arrangers and bookrunners ANZ, BNP Paribas and National Australia Bank.
A total of 22 banks joined the deal as participants, namely ABN AMRO, Bank of America, Bank of China (Hong Kong), Bank of Tokyo-Mitsubishi UFJ, Barclays, Chinatrust Commercial Bank, Commonwealth Bank of Australia, Deutsche Bank, DZ Bank, Goldman Sachs, Intesa San Paolo, Mega International Commercial Bank, Mizuho, Oversea-Chinese Banking Corp, Rabobank, Scotia Bank (Asia), Scotia Bank (Hong Kong), Societe Generale, Sumitomo Mitsui Banking Corp, WestLB and Westpac.
The refinancing is equally split into two A$1.9 billion term loans with two- and three-year maturities that pay a spread of 200bp and 250bp over Libor respectively.
Proceeds are to refinance a A$5 billion term loan that was signed in October 2007 to pay for the acquisition of Coles Group in Australia.
China
Guangzhou Water Investment Group's Rmb23.3 billion project financing has been signed via sole mandated lead arranger and bookrunner Bank of China, along with 13 local lenders including Agricultural Bank of China, Bank of Communications, China Construction Bank, China Merchants Bank, China Minsheng Banking Corp, Citic Bank, Guangdong Development Bank, Guangzhou Rural Cooperative Bank, Huaxia Bank, ICBC, Shanghai Pudong Development Bank, Shenzhen Pingan Bank and Xingye Bank.
The 20-year term loan features a pricing of 90% of the PBOC rate and a quarterly repayment schedule.
Proceeds are to fund the Guangzhou sewage and riverway disposal project.
Hong Kong
Link REIT's HK$1.8 billion three-year financing has been mandated to ANZ, DBS and HSBC. Several other lenders are currently processing their credit approvals. The loan is expected to be signed later this month as a club deal.
The deal has an all-in pricing of 175bp over Hibor. Proceeds are to refinance several bilateral loans signed in 2006.
A $300 million multi-currency financing for Woolworths has been launched into syndication via mandated lead arrangers and bookrunners ANZ and Citi.
The debt comprises both term loans and revolvers. Proceeds are for general corporate purposes.
Japan
Mitsubishi Corp's $1 billion 364-day revolver was launched into syndication on March 6 via sole bookrunner Citi. Syndication is slated to close by next week.
Proceeds are for general corporate purposes.
Singapore
Alhambra, a special purpose vehicle for Cambridge Industrial Trust's S$390 million dual-tranche loan, was launched into limited syndication on March 11 via bookrunners HSBC and Royal Bank of Scotland. National Australia Bank and RHB Bank have already joined in as equal-status lead arrangers.
The three-year financing is divided into two term loans of S$330 million and S$60 million apiece.
Proceeds are to refinance existing debt.
Taiwan
Chipbond Technology Corp's NT$2 billion financing has been completed via coordinating arrangers First Commercial Bank, Land Bank of Taiwan, Mega international Commercial Bank, Taipei Fubon Commercial Bank and Taiwan Cooperative Bank.
The debt is equally split into two five-year term loans which are priced at 125bp over the secondary CP rate and offer a commitment fee of 20bp.
Final allocations saw the mandated lead arrangers contributing NT$345 million each. Senior manager Taiwan Business Bank ended up with NT$200 million, while manager Hua Nan Commercial Bank joined in with NT$75 million.
Proceeds are to refinance existing debt facilities and to redeem convertible bonds due on April 4 2012.
Syndication of ITEQ Corp's NT$1.2 billion three-year revolving credit is expected to close at the end of the month. Mandated lead arrangers Chinatrust Commercial Bank, Hua Nan Commercial Bank and Mega International Commercial Bank are waiting for Taiwan Business Bank and Yuanta Commercial Bank to get credit committee approval.
The loan offers a margin of 110bp over the secondary CP rate and has a commitment fee of 15bp.
Proceeds are for working capital purposes.
Jei Yang Construction Corp and Long Da Construction's NT$4.4 billion 3.5-year transaction is close to signing via sole mandated lead arranger and bookrunner Land Bank of Taiwan. Bank of Taiwan, DBS, King's Town Bank, Ta Chong Bank and Taiwan Cooperative Bank are coming in as participants.
The debt is divided into NT$1.4 billion and NT$3 billion term loans and features a pricing floor of 330bp and 340bp per annum respectively.
Proceeds are to finance the acquisition of land and the construction of residential properties. The loan agreement is scheduled to be signed by the end of March.
A NT$3.5 billion credit for MITAC International Corp has been completed via mandated lead arrangers and bookrunners Chinatrust Commercial Bank, E. Sun Commercial Bank, First Commercial Bank, Land Bank of Taiwan and Mega International Commercial Bank.
The deal is split equally into two term loans and pays a spread of 80bp over the secondary CP rate with a commitment fee of 10bp.
Final allocations saw the leads contributing NT$500 million apiece, while participants Cathay United Bank, Chang Hwa Commercial Bank, Hua Nan Commercial Bank, Shanghai Commercial & Savings Bank and Taiwan Business Bank held NT$200 million each.
Proceeds are for refinancing and working capital purposes.
A NT$700 million dual-tranche fundraising for Tera Autotech Corp has been closed via mandated lead arrangers and bookrunners Chinatrust Commercial Bank, DBS, Land Bank of Taiwan, Industrial Bank of Taiwan and Taiwan Cooperative Bank.
The deal comprises a NT$400 million four-year term loan and a NT$300 million three-year revolver, which feature a margin of 75bp over the primary CP rate and a commitment fee of 10bp if usage of the loan is less than 50%.
The leads each committed NT$126 million, while participant Bank of Panhsin joined with a NT$70 million ticket.
Proceeds are for capital expenditure and working capital purposes. The signing is expected to take place on March 20.
Vietnam
GS Saigon Development One-Member's $90 million dual-tranche package was signed last week via ANZ, Bank of Nova Scotia Asia and Natixis on a club basis.
The three-year financing is guaranteed by GS Engineering & Construction Corp. The deal consists of a $70 million portion with an insurance policy from Korea Export & Insurance Corp and a $20 million term loan.
Proceeds are for capital expenditure purposes.
