Loan week, May 28-June 3

Australia

Ageis Securitisation Nominees' A$237 million project financing has been inked via mandated lead arrangers Commonwealth Bank of Australia, WestLB and Bendigo Bank.

The five-year debt package comprises a A$222 million construction term loan, a A$13 million debt service reserve facility and a A$2 million revolving credit.

Proceeds are to finance the Ararat Prison Project.

DuluxGroup (Finance)'s A$400 million dual-tranche fundraising has been signed on a club basis via mandated lead arrangers ANZ, Bank of Scotland International, Commonwealth Bank of Australia, HSBC, National Australia Bank, United Overseas Bank and Westpac.

The revolver is split into a A$300 million three-year portion and a A$100 million five-year tranche.

Proceeds are to fund the costs associated with the group's demerger from Orica and for general corporate purposes.

Hong Kong

Fosun International's $140 million three-year debt package was signed on May 31 via bookrunner and mandated lead arranger Credit Agricole.

Final allocations saw Credit Agricole pledge $20 million, while mandated lead arrangers China Development Bank, Natixis, and Bank of China contributed $40 million, $22 million, and $20 million respectively. Joining in as arrangers were Industrial & Commercial Bank of China and Nanyang Commercial Bank, which ended up with $10 million apiece. Senior manager Cathay Bank gave $8 million, while China Construction Bank and Bank Negara Indonesia contributed $5 million each.

Proceeds are to refinance existing indebtedness and for working capital purposes.

An HK$800 million four-year term loan for Fountain Set was launched into syndication in May via mandated lead arrangers Bank of China, HSBC and Standard Chartered Bank. The deal is guaranteed by Fountain Set, Lake Side Printing Factory and Ocean Yam Dyeing Factory.

The deal is expected to be closed by the end of July.

A HK$3.5 billion self-arranged transaction for Hong Kong Air Cargo Terminals was signed last week via mandated lead arrangers ANZ, Bank of East Asia, Bank of Tokyo-Mitsubishi UFJ, Credit Agricole, HSBC, Mizuho Corporate Bank, Oversea-Chinese Banking Corp and Sumitomo Mitsui Banking Corp.

The debt package consists of a HK$2.6 billion 4.25-year term loan and a HK$940 million four-year revolving credit.

Proceeds are for general corporate purposes.

Right Lane's $200 million three-year term loan is expected to close in June. The financing is fully underwritten by mandated lead arrangers HSBC and Royal Bank of Scotland.

Sinochem's $700 million five-year credit facility was launched into senior syndication on May 27 via ANZ, Bank of Tokyo-Mitsubishi UFJ, Credit Agricole and Standard Chartered. General syndication will commence shortly.

Proceeds are for general corporate purposes.

India

A Rs49.0 billion one-year bullet loan for Aircel was sealed on May 25 via sole mandated lead arranger IDBI Bank.

The debt comprises two term loans of Rs22.0 billion and Rs27.0 billion respectively.

Syndication saw Allahabad Bank, Bank of Baroda, Canara Bank, Federal Bank, Jammu & Kashmir Bank, Punjab & Sind Bank, Syndicate Bank, United Bank of India and Yes Bank join in as participants.

Proceeds are to support the acquisition of 3G and BWA licenses for providing mobile cellular services.

Japan

FI ELM Leasing has secured a ¥4.0 billion 9.5-year term loan via sole bookrunner and mandated lead arranger Credit Agricole with Sumitomo Mitsui Finance & Leasing coming in as a participant.

Proceeds are for aircraft financing purposes.

Philippines

Petron Corp's $355 million five-year term loan was sealed on June 1 via bookrunners Bank of Tokyo-Mitsubishi UFJ, Standard Chartered Bank and ANZ. The deal was oversubscribed and upsized from $350 million.

Final allocations saw Bank of Tokyo-Mitsubishi UFJ and Standard Chartered Bank commit $70 million apiece, while ANZ pledged $50 million.

Joining in as mandated lead arrangers were Maybank Group and Chinatrust (Philippines) Commercial Banking with $70 million and $50 million respectively. Mega International Commercial Bank came in as an arranger with $20 million. Manager Taiwan Cooperative Bank took $10 million and Cathay United Bank, HSBC, and NORD/LB took $5 million each.

Proceeds are for refinancing and general corporate purposes.

Singapore

Morganite's S$1.6 billion self-arranged transferrable club deal has been secured via mandated lead arrangers Arab Bank, Bank of China, Bank of Tokyo-Mitsubishi UFJ, DBS Bank, HSBC, Malayan Banking (Maybank), Natixis, Oversea-Chinese Banking Corp and United Overseas Bank.

The deal is split into three 4.25-year portions of S$870 million, S$366 million and S$255 million, which are priced at 215bp over Singapore dollar swap rate. There is also a $134 million guarantee facility with a margin of 135bp over the same rate.

Proceeds are to refinance a S$2.0 billion credit facility signed in June 2008, to finance construction costs and for general corporate purposes.

South Korea

General syndication of LG Display's $600 million financing has been closed with two banks joining in as lead arrangers.

The three-year facility comprises a $250 million onshore term loan and a $350 million offshore loan-style floating-rate note (FRN).

For the onshore portion, bookrunners Korea Development Bank, Korea Finance Corp, Mizuho Corporate Bank and Sumitomo Mitsui Banking Corp committed $50 million each, while Bank of America Merrill Lynch lent $40 million. Bank of China (Seoul) came in as a lead arranger with a hold of $10 million. 

For the offshore facility, bookrunners ANZ, Credit Agricole, DBS Bank, HSBC and Standard Chartered Bank gave $50 million each, while BNP Paribas contributed $40 million. Scotiabank took $30 million, Korea Development Bank pledged $20 million and Shanghai Commercial & Savings Bank joined in as a lead arranger by lending $10 million.

Proceeds are for capital expenditure and working capital purposes.

Shinhan Bank's €150 million term loan has been completed via a consortium of 11 mandated lead arrangers with Commerzbank acting as the facility agent.

The 366-day term loan is priced at 60bp over Euribor.

Final allocations saw Commerzbank give €14 million, while Barclays Capital, BNP Paribas, Credit Agricole (Seoul), HSBC (Seoul), ING Bank (Seoul), Landesbank Baden-Wuerttemberg (LBBW), Natixis (Hong Kong), Oversea-Chinese Banking Corp, RZB-Austria (Singapore) and Standard Chartered Bank (Hong Kong) lent €13.6 million each.

Proceeds are to refinance and upsize a €90 million one-year club facility completed in March 2009 and to provide for general funding requirements.