Loan Week

Loan Week, May 17-23

A roundup of the latest syndicated loan market news.


Daiwa House (Wuxi) Real Estate Development has signed a Rmb238 million three-year term loan through sole bookrunner and mandated lead arranger Bank of Tokyo-Mitsubishi UFJ.

The facility offers a margin of 130% over the PBoC rate.

Final allocations saw the lead take Rmb100 million while participant China Merchants Bank provided Rmb138 million.

Proceeds are for the development of the Wubo Yuan real estate project.

Shenzhen Yantian Tug has concluded a Rmb300 million three-year financing through sole bookrunner and mandated lead arranger Bank of China.

Syndication saw China Development Bank and ICBC join in as participants.

Proceeds are for capital expenditure purposes.

Wenzhou Port Yueqing Bay Port has completed a Rmb1.5 billion 15-year financing through sole bookrunner Bank of China.

Wenzhou Port Group is the sponsor of the financing.

Syndication saw Bank of Communications, Export-Import Bank of China and ICBC come in as participants.

Proceeds are for the construction of the Wenzhou Yueqing Bay Port.


Hong Kong

Haitong International Securities Group has inked a HK$3 billion three-year revolving credit facility through bookrunners HSBC and Standard Chartered.

The single-tranche facility is priced at 200bp over Hibor.

Syndication saw Dah Sing Bank, First Commercial Bank, Hang Seng Bank, ICBC, Shanghai Pudong Development Bank, Taipei Fubon Commercial Bank and Taishin International Bank come in as mandated lead arrangers while Bank of East Asia, China Citic Bank, China Construction Bank, China Everbright Bank, China Merchants Bank, Maybank and Wing Hang Bank joined in as lead arrangers. Chang Hwa Commercial Bank, E.Sun Commercial Bank, Mega International Commercial Bank, SMBC, Taiwan Business Bank and Taiwan Cooperative Bank joined in as arrangers to complete the syndication.

Proceeds are for working capital purposes.

LHIL Finance has obtained a HK$6.8 billion three-year loan package through bookrunners ANZ, Citi, Deutsche Bank and HSBC.

Guaranteed by Langham Hospitality Investments, the facility is spilt into a HK$2.9 billion term loan, a HK$2.4 billion portion and a HK$1.5 billion tranche.

Syndication saw Bank of East Asia, ICBC, OCBC, RBS, SMBC, UOB and Wing Lung Bank join in as mandated lead arrangers.

Proceeds are for on lending to LHIL (LHK) for financing acquisition consideration.



MSR Hotel (Bangalore) has inked a Rs1.7 billion debt financing through sole bookrunner State Bank of India.

The secured facility consists of five term loans and one revolving credit facility.

Final allocations saw mandated lead arranger Vijaya Bank provide Rs1.2 billion while participants Federal Bank and City Union Bank contributed Rs320 million and Rs157 million, respectively.

Proceeds are for debt restructuring, capital expenditure and working capital purposes.



Manipal Academic Services International and Manipal Education Group have obtained a $270 million seven-year facility through mandated lead arrangers Deutsche Bank, ICICI Bank and Nomura on a club basis.

The facility consists of term loans for $43 million, $67 million and $160 million, which are priced at 600bp over Libor.

Final allocations saw the leads pledge $90 million each.

Proceeds are for share buyback and refinancing purposes.



Chinyi Eggs Technology has secured a NT$725 million five-year financing though bookrunners and mandated lead arrangers Agricultural Bank of Taiwan, First Commercial Bank, Land Bank of Taiwan and Taichung Commercial Bank.

Priced at 210bp over one-year post office savings rate, the facility comprises a NT$375 million term loan and a NT$350 million revolving credit facility.

Final allocation saw First Commercial Bank lend NT$160 million while the other three bookrunners pledged NT$116 million each. Co-arranger Taiwan Cooperative Bank provided NT$87 million while participants Bank of Panhsin, Hua Nan Commercial Bank and Taiwan Business Bank concluded the syndication by lending NT$44 million each.

Proceeds are for capital expenditure and working capital purposes.

Sino-American Silicon Products has sealed a NT$4 billion five-year loan package through bookrunners and mandated lead arrangers E.Sun Commercial Bank, Taipei Fubon Commercial Bank and Taiwan Cooperative Bank.

The facility is split into a NT2.5 billion term loan and a NT$1.5 billion revolving credit facility.

Syndication saw Dachong Bank, First Commercial Bank and Mega International Commercial Bank join in as participants.

Proceeds are to refinance an existing loan facility that was signed in May 2013 and for working capital purposes.

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