Loan Week

Loan Week, May 25-31

A roundup of the latest syndicated loan market news.


GMR Kishangarh Udaipur Ahmedabad Expressways concluded a Rs54 billion 14-year, 10-month term loan last week (May 24) through sole bookrunner and mandated lead arranger IDBI Bank.

The facility will be repaid in 45 quarterly instalments after a 10-month grace period.

Final allocations saw the lead provide Rs46 billion while lenders Central Bank of India and India infrastructure Finance took Rs4 billion each.

Proceeds are for the expansion of a 555.5km toll road.



Astra Sedaya Finance successfully obtained a $250 million three-year term loan on Wednesday (May 30) through bookrunners and mandated lead arrangers Bank of Tokyo-Mitsubishi UFJ, Mizuho Corporate Bank and SMBC.

Syndication saw Korea Development Bank join in as a mandated lead arranger while Aozora Bank, BPI Capital Corp, Shinsei Bank and State Bank of India came in as lead arrangers. First Gulf bank, IBJ Leasing and Kookmin Bank participated as arrangers.

Proceeds are for general corporate purposes.

Maritim Barito Perkasa signed a $160 million seven-year club facility on Tuesday (May 29) through 10 mandated lead arrangers. The deal was heavily oversubscribed to $915 million.

Final allocation saw Bank of Tokyo-Mitsubishi UFJ, HSBC and OCBC commit $28 million each while DBS took $21 million. SMBC lent $14 million while ANZ, CIMB, Mizuho Corporate Bank and Standard Chartered contributed $9 million each. Chinatrust Commercial Bank pledged $5 million to join in as a lead arranger.

The deal is guaranteed by the parent Adaro Energy. Proceeds are for capital expenditure, general corporate and refinancing purposes.

Media Karya Sentosa has completed a $175 million financing through bookrunners and mandated lead arrangers Bank Internasional Indonesia and Deutsche Bank.

The debt package comprises a $120 million term loan, a $30 million Islamic tranche and a $25 million standby letter of credit.

Syndication saw Bank Danamon Indonesia, Bank DKI, Bank Muamalat Indonesia, Bank Syariah Mandiri, Indonesia Eximbank, London Forfaiting and Raiffeisen Bank International join in as arrangers.



1MDB Energy, a subsidiary of Malaysian government investment arm 1Malaysia Development, secured a M$6.2 billion one-year, six-month bridge loan through mandated lead arrangers Maybank and RHB.

Proceeds are for the acquisition of Tanjong Energy Holdings from Tanjong.

Tune Ins Holdings has completed a M$160 million five-year term loan through mandated lead arrangers CIMB and RHB.

Proceeds are to support the acquisition of Oriental Capital Assurance.



All Ring Tech has completed a NT$610 million three-year facility through sole bookrunner and mandated lead arranger Bank of Taiwan.

The transaction consists of a NT$260 million term loan and a NT$350 million revolver.

Syndication saw Chinatrust Commercial Bank, Cosmos Bank Taiwan, Entie Commercial Bank, First Commercial Bank and Taiwan Cooperative Bank come in as participants.

Proceeds are to repay bank liability and for working capital purposes.

Fu You Land Development has recently signed a NT$1.7 billion one-year term loan through bookrunners Chinatrust Commercial Bank and Taichung Commercial Bank.

The facility is split into a NT$650 million tranche and a NT$1 billion portion. The deal offers a margin of 183bp over post office savings rate.

Syndication saw Bank of Kaohsiung come in as lead arranger while Bank of Panhsin and Industrial Bank of Taiwan joined in as participants.

Proceeds are for general corporate purposes.

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