Australia
Pacific Equity Partners Fund IV LP sealed an A$800 million multi-tranche facility on a club basis last Wednesday (May 18) through mandated lead arrangers Citi and Commonwealth Bank of Australia.
The two-year loan consists of A$464 million, A$228 million, A$72 million and A$36 million revolvers. Proceeds are to refinance a A$400 million facility signed in July 2010 and for general corporate purposes.
China
TCC Chongqing Cement has secured a dual-tranche dual-currency facility through leads BNP Paribas, Bank of Communications and OCBC.
The facility comprises a Rmb163 million five-year tranche and a HK$120 million one-year portion. The latter tranche features two one-year extension options.
Syndication saw BNP Paribas and Bank of Communications commit Rmb88 million and Rmb75 million in the five-year facility while OCBC contributed HK$120 million to the one-year loan. Proceeds are for capital expenditure and working capital purposes.
Hong Kong
Champion Reit, through its SPV CP Finance, has obtained a HK$7 billion three-year term loan through a consortium of seven mandated coordinating arrangers.
Guaranteed by the trustee HSBC Institutional Trust Services and owners of the properties, the facility is priced at 93bp over Hibor.
The lenders include Bank of China, Citibank, Hang Seng Bank, HSBC, OCBC, SMBC and UOB. Proceeds are to refinance an existing HK$7.2 billion dual-tranche facility signed in 2006.
Noble Group successfully launched its $2.3 billion dual-tranche loan on Tuesday (May 24) through a consortium of 16 banks. The revolver is split into a $675 million 364-day portion and a $1.6 billion three-year facility.
Bookrunners and mandated leads are ABN Amro, Banco do Brasil, Bank of America, Bank of Tokyo-Mitsubishi UFJ, Citi, Commerzbank, DBS, Goldman Sachs, HSBC, ING, J.P. Morgan, Natixis, Rabobank, Royal Bank of Scotland, Societe Generale and Standard Chartered.
Proceeds are to refinance existing indebtedness and for general corporate purposes.
India
Abhijeet Infrastructure’s Rs5.6 billion 9.75-year term loan was signed last Friday (May 20) through sole mandated lead SBI Capital Markets.
The loan package is priced at 425bp over SBI Base Rate, and will be repaid in 28 quarterly installments.
Syndication saw participants State Bank of India pledge Rs1.25 billion while Bank of India provided Rs1 billion. Punjab National Bank gave Rs750 million while Corporation Bank lent Rs620 million. Indian Overseas Bank provided Rs500 million while Karnataka Bank and Vijaya Bank both contributed Rs400 million each. State Bank of Bikaner & Jaipur joined in with Rs362 million while State Bank of Hyderabad ended up with Rs360 million.
Proceeds are for project financing purposes.
A $90 million one-year term loan for Yes Bank was inked on Monday (May 23) through joint bookrunners and mandated leads Citi, Commerzbank, Standard Chartered and Wells Fargo. Syndication saw Afrasia and Oberbank join in as arrangers.
Proceeds are for general corporate purposes.
Indonesia
Astra International has secured a $145 million three-year revolver on a club basis through mandated leads ANZ Panin Bank, DBS, Mizuho Corporate Bank and SMBC.
Final allocations saw Mizuho Corporate Bank give $50 million while DBS, SMBC and ANZ Panin Bank lent $40 million, $30 million and $25 million respectively.
Proceeds are for general corporate purposes.
Multi Harapan Utama’s $120 million project financing has been signed through bookrunners Standard Chartered and CIMB.
The transaction offers a margin of 600bp over Libor for onshore lenders and 500bp over the same rate for offshore lenders.
Final allocations saw the lead Bank CMBA Niaga and Standard Chartered commit $30 million and $28 million respectively. Arrangers Bank Permata and Export-Import Bank of Indonesia joined in with $20 million each while lead arranger ANZ Panin came in with $15 million. Lead managers Bank Bukopin ended up with $8 million.
Proceeds are to refinance existing debt facilities and finance expansion capital expenditure purposes.
Malaysia
Genting New York obtained a $265 million five-year dual-tranche facility on Tuesday (May 24) through joint mandated leads Commerzbank and OCBC.
The loan package comprises a $225 million term loan which will be repaid in seven semi-annual installments and a $40 million revolver.
Syndication saw Bangkok Bank, Citi and Maybank participate at lower levels. Proceeds are to repay debt, for capital expenditures and working capital purposes.
Singapore
IOI Land Singapore has signed a S$200 million two-year term loan as a club deal through mandated lead arrangers Bank of China, Bank of Tokyo-Mitsubishi UFJ, Mizuho Corporate Bank and SMBC.
IOI Corp is the guarantor of the facility. Proceeds are for refinancing and general corporate purposes.
Taiwan
Chain Yarn has signed a NT$2.6 billion seven-year loan through mandated lead arrangers Bangkok Bank, Bank of Taiwan, Chang Hwa Commercial Bank, Land Bank of Taiwan, Taiwan Business Bank and Taiwan Cooperative Bank.
The unsecured loan is split into NT$1.6 billion and NT$550 million term loans and a NT$430 million revolver which are priced at 100bp over the secondary CP rate.
General syndication saw Agricultural Bank of Taiwan, Bank of Kaohsiung, E. Sun Commercial Bank, Export-Import Bank of the Republic of China, First Commercial Bank and Yuanta Commercial Bank join in as participants.
Proceeds are for capital expenditure purposes.
Sole bookrunner Chinatrust closed a NT$1 billion six-year term loan last week for CHC Healthcare Group. The upsized facility offers a spread of 90bp above the primary CP rate.
Final allocations saw the bookrunner commit NT$200 million while Agricultural Bank of Taiwan, Taiwan Business Bank, Taiwan Cooperative Bank and Yuanta Commercial Bank gave NT$110 million each. Bank of Taiwan and Chang Hwa Commercial Bank each lent NT$100 million while First Commercial Bank and Hua Nan Commercial Bank provided NT$80 million each.
Proceeds are for capital expenditure and working capital purposes.
Cheng Loong Corp completed a NT$1.6 billion note issuance facility through sole bookrunner Credit Agricole. The three-year loan comprises a NT$300 million tranche and a NT$1.3 billion portion.
Syndication saw the sole lead lent NT$300 million while China Bills Finance Corp, Dah Chung Bills Finance Corp, Mega Bills Finance, Grand Bills Finance Corp, International Bills Finance Corp, Ta Chong Bills Finance Corp committed NT$200 million. Taiwan Cooperative Bills Finance Corp ended up with NT$100 million.
Proceeds are for debt repayment and working capital purposes.
Kofu International obtained a $500 million one-year refinancing last week through joint bookrunners Cathay United Bank, Mega International Commercial Bank and Taiwan Cooperative Bank.
The term loan pays a margin of 150bp over Libor.
Bank of Taiwan, Land Bank of Taiwan, Taishin International Bank and Taiwan Business Bank came in as mandated lead arrangers while Chang Hwa Commercial Bank, First Commercial Bank, HSBC, Hua Nan Commercial Bank, Shanghai Commercial & Savings Bank, Taichung Commercial Bank and Yuanta Commercial Bank were brought in as participants.
A NT1.4 billion five-year debt for Taiwan First Biotechnology was completed last week through mandated leads Bank of Taiwan, E.Sun Commercial Bank, Taiwan Business Bank and Taiwan Cooperative Bank.
The debt is divided into a NT$1.1 billion term loan portion for capital expenditure and a NT$340 million working capital revolver tranche which are priced at 120bp over Bank of Taiwan’s two-year savings rate.
The mandated leads pledged NT$281 million each while Hua Nan Commercial Bank and Mega International Commercial Bank gave NT$186 million and NT$90 million respectively.
