A A$375 million three-year financing for Australian Retirement Homes and FKP is expected to be signed later this month via sole bookrunner ANZ.
So far, syndication has seen Bank of New Zealand (Australia Branch) and Suncorp Metway joining in. Proceeds are to refinance existing debt
ANZ, Bank of Australia (International) and Royal Bank of Scotland have been mandated to arrange a A$170 million multi-tranche LBO financing for BNT Holdco, an SPV for Bras N Things.
The loan comprises an A$80 million six-year bullet, a A$50 million amortising loan, a A$30 million seven-year revolver and a A$10 million portion.
Syndication is expected to be launched at the end of March.
A $170 million three-year bullet loan has been inked on a club basis for SAI Global via ANZ and Westpac Banking Corporation, which will hold A$110 million and A$60 million respectively.
Proceeds are to finance the acquisition of Quality Management Institute from Canadian Standards Association.
China
A Rmb2.4 billion dual tranche fundraising for Beijing Sanlitun North Property Management, Beijing Sanlitun South Property Management, and Beijing Sanlitun Hotel Management was signed on March 10 via a syndicate of eight banks.
The credit is split between a Rmb2.2 billion three-year loan and a Rmb200 million three year-debt with both tranches paying a margin of 110% of PBOC rate.
Allocations saw mandated lead arrangers BNP Paribas, HSBC and Standard Chartered taking Rmb533.33 million each while arrangers Bank of East Asia, Nanyang Commercial Bank and Oversea-Chinese Banking Corporation committing Rmb200 million apiece. Bank of Tokyo-Mitsubishi UFJ and Sumitomo Mitsui Banking Corporation ended up with Rmb100 million each.
Swire Properties is acting as the guarantor. The funds are to acquire a property in Beijing New Sanlitun Cultural District.
Calyon and Royal Bank of Scotland launched a $200 million 3.5-year term loan for Wuhan Iron & Steel into general syndication on March 12.
The loan features a spread of 110bp over Libor and banks are expected to revert by mid-April.
India
DLF Global HospitalityÆs $300 million five-year financing has received a $50 million commitment from Export-Import Bank of India with two banks expected to join the syndicate shortly. Three more banks are processing credit approvals. ICICI Bank and Standard Chartered are leading the deal.
The deal features a spread of 250bp over Libor.
Proceeds are to support the acquisition of Amanresorts from Singapore-based Silverlink Holdings.
Syndication is still ongoing for Delhi International AirportÆs $1.25 billion dual tranche project financing led by ICICI Bank.
The loan comprises a $900 million rupee-equivalent onshore loan and a $350 million 13-year offshore credit.
The offshore loan has already received joint commitments of $150 million via lead ICICI Bank and arranger Abu Dhabi Commercial Bank. Calyon and HSH Nordbank have joined the syndicate with holds of $30 million each and titles of mandated lead arranger. Intesa Sanpaolo and Bayern LB have already joined as equal-status arrangers with contributions of $50 million and $30 million respectively.
The facility marks the debut of IndiaÆs airport sector in the International debt market.
Industrial Development Bank of IndiaÆs (IDBI) $50 million one-year facility has been inked via mandated lead arrangers BNP Paribas, DZ Bank (Singapore Branch), First Commercial Bank (Offshore Banking Branch) and Intesa Sanpaolo (Singapore Branch). BNP Paribas is the sole bookrunner.
Final allocations saw the mandated leads providing $10 million apiece. Coming in as arrangers were Export-Import Bank of the Republic of China and Unicredito Italiano (Hong Kong Branch) taking $5 million each.
Not long after signing the previous deal, Industrial Development Bank of India is in the market again. A $130 million one-year credit has been launched into syndication via lead arrangers BNP Paribas, DEPFA Bank and DZ Bank. BNP Paribas is again the sole bookrunner.
A bank meeting is scheduled to be held next week in Taiwan. Syndication is expected to be closed early next month.
Tata ChemicalÆs $850 million dual tranche five year financing was launched into senior syndication this week via a group of seven leads û ABN AMRO, Bank of Nova Scotia, Calyon, HSBC, Mizuho Corporate Bank, Rabobank and Standard Chartered.
The credit comprises a $500 million five year fundraising that will be syndicated to the market while a $350 million portion will be completed as a club deal by the seven leads.
Proceeds are to support the acquisition of US-based General Chemical Industrial Products.
Export Import Bank has also joined VA TechÆs Ç65 million five year guarantee facility with a commitment of Ç25 million. ICICI Bank is the sole mandated arranger.
The loan was funded on September 19, 2007. The funds are to part finance the acquisition of VA Tech Austria.
Indonesia
PT Adaro and Coaltrade International ServicesÆ $750 million dual tranche debt package was signed last Thursday (March 6) via mandated lead arrangers Bank of Tokyo-Mitsubishi UFJ, DBS Bank, Standard Chartered Bank, Sumitomo Mitsui Banking Corp and United Overseas Bank. DBS Bank, Standard Chartered Bank and Sumitomo Mitsui Banking Corp were the bookrunners. The facility was funded in early December.
The credit is split between a $650 million five year amortising term loan, with an average life of 3.54 years and a $100 million three year revolver. The deal is priced at 130bp over Libor for the onshore portion and 120bp for the offshore tranche.
Final allocations saw the mandated arrangers contributing $110.8 million apiece with the exception of United Overseas Bank which held $72.1 million. Bank Mandiri joined in as an equal-status arranger taking $67.2 million.
Coming in as lead arrangers were ABN ABRO and ANZ both giving $50 million each. Rounding off the syndicate were arrangers NordLB providing $30 million while Bangkok Bank took $20 million. Commerzbank and Bank Lippo held $10 million and $7.5 million respectively.
Proceeds are to refinance an existing $200 million loan signed in March 2007 and a $400 million high-yield bond.
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