Chailease International FinanceÆs RMB210 million three-year term loan was signed last Wednesday after the borrower decided to close the loan instead of waiting for commitments to reach Rmb300 million. Parent company, Chailease Finance Co is acting as the guarantor.
Sole mandated lead arranger and bookrunner Mizuho Corporate Bank committed Rmb80 million while lead arranger Agricultural Bank of China (Shanghai branch) and arranger First Sino Bank joined in with Rmb100 million and Rmb30 million respectively.
The deal is priced at 110% of the PBOC rate and has a commitment fee of 15bp. Proceeds are for general working capital purposes.
A $115 million 10-year debt package for ChangJiang Shipping Group Phoenix has been sealed via sole bookrunner BNP Paribas.
The loan pays a spread of 95bp over Libor.
Final allocations saw BNP Paribas contributing $30 million while Industrial & Commercial Bank of China and ING Bank provided $60 million and $25 million respectively.
Proceeds are to support the construction of four shipping vessels.
Hainan Airlines CompanyÆs $120 million two-year offshore financing has been inked via sole lead arranger Royal Bank of Scotland. The deal was oversubscribed and commitments were scaled back at the borrowerÆs discretion and was downsized from $131 million.
The facility is split into four term loans comprising $16.7 million, $16.8 million, $43.7 million and $42.8 million portions.
Syndication saw four banks joining in as lead arrangers - Bayerische Hypo-und Vereinsbank, Bayerische Landesbank, Nanyang Commercial Bank and Natixis.
The funds are to finance the purchase of two 737 and two 787 Boeing aircraft which are slated to be delivered in 2010.
After a long delay, TCC Guigang Cement CorpÆs Rmb900 million dual tranche fundraising has finally been completed via mandated leads and bookrunners BNP Paribas, Calyon, Standard Chartered Bank and Oversea-Chinese Banking Corp. The deal was downsized from Rmb1.06 billion as a few banks did not obtain their credit approvals in time.
The deal is split into a Rmb47.2 million five-year portion and a Rmb352.8 million three-year revolver priced at 105% of the PBOC rate. The two tranches have a two-year extension option. Taiwan Cement Corp is acting as the guarantor.
Final allocations saw the bookrunners committing Rmb100 million apiece while China Development Bank and Bank of China joined in as equal-status arrangers with holds of Rmb300 million and Rmb200 million respectively.
Proceeds are to support the construction of the second phase cement plant.
Wuhan Iron & SteelÆs $200 million three-and-a-half-year credit is still in syndication and is being led by bookrunners Calyon and Royal Bank of Scotland.
The bullet term loan features a spread of 180bp over Libor, flexed-up from 110bp.
At present, syndication has seen 10 banks joining in. Banks have until next week to revert.
Hong Kong
Integrated Precision EngineeringÆs four-year dual tranche fundraising was downsized to HK$225 million from HK$250 million and inked on 25 April. Mandated lead and sole bookrunner Standard Chartered Bank contributed HK$49 million, while lead manager Bangkok Bank committed HK$30 million. Managers Chang Hwa Commercial Bank lent HK$28 million, while DBS Bank, E.Sun Commercial Bank, Industrial & Commercial Bank of China, Land Bank of Taiwan and United Overseas Bank held HK$20 million apiece. Bank of Taiwan rounded out the group with HK$18 million.
The facility, which pays a spread of 85bp over HIBOR, is to refinance existing indebtedness and for corporate funding purposes
India
A $210 million three-year loan for Bank of India has been signed via mandated leads Bank of Tokyo-Mitsubishi UFJ, DZ Bank, HSBC, Intesa Sanpaolo and Sumitomo Mitsui Banking Corp. The facility was oversubscribed and upsized from $100 million due to an overwhelming response from the market.
The deal features a spread of 90bp over Libor.
Syndication saw around 20 commitments being received but are undisclosed as yet. Proceeds are for general corporate purposes.
A $170 million yen-equivalent one-year term loan for Industrial Development Bank of India (IDBI) has been signed via mandated leads BNP Paribas, DEPFA Bank and DZ Bank. BNP Paribas is the sole bookrunner. The deal was upsized from $130 million due to a good market response.
Final allocations saw BNP Paribas and DEPFA Bank providing $30 million apiece while DZ Bank took $25 million. Coming in as equal-status arrangers were Fortis Bank and Oversea-Chinese Banking Corp, contributing $20 million and $15 million respectively.
Arrangers Banca Monte dei Paschi di Siena and Banque des Mascareignes committed $10 million each, while co-arrangers First Commercial Bank and Taiwan Business Bank held $9 million and $6 million respectively. Rounding off the syndicate were Banco Popolare di Verona e Novara Scarl, Chang Hwa Commercial Bank and Land Bank of Taiwan, lending $5 million each.
Proceeds are for general corporate purposes.
¬ Haymarket Media Limited. All rights reserved.
