loan-week-may-1117

Loan Week, May 11-17

A roundup of the latest syndicated loan market news.
Australia

Westfield GroupÆs $4 billion multi-tranche financing was launched into general syndication on May 8. The deal has already received $3 billion in commitments with a bank presentation held in Singapore on May 16.

The deal is split into a $1.46 billion nine month facility, a $2.19 billion three year loan that pays a margin of 35bp over Libor, a $210 million five year financing that carries a margin of 42.5bp and a $140 million two year portion.

Banks have been invited to join on six tiers. Bank joining with commitments of $225 million or above receive 20bp in fees while those providing between $150m and $225 million get 17.5bp. Commitments of $100 million...
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