Loan Week

Loan Week, May 4-10

A roundup of the latest syndicated loan market news.

Australia

Norfolk Group has signed a A$150 million three-year facility on a club-basis through mandated lead arrangers Commonwealth Bank of Australia, HSBC and Westpac.

The transaction is split into a A$140 million tranche and a A$10 million overdraft portion.

Final allocations saw Commonwealth Bank of Australia and Westpac pledge A$60 million each and HSBC committed A$30 million.

Proceeds are to refinance an existing A$115 million facility signed in March 2010 and general corporate purposes.

 


China

Nanjing Jiangning Wanda Square Investment has signed a Rmb1.8 billion four-year term loan through sole bookrunner and mandated lead arranger Bank of China.

The facility is priced at 105% of the PBOC rate.

Final allocations saw the lead manager ICBC and participant Beijing Bank contribute Rmb500 million each. Participants China Merchants Bank and Commercial Bank of Chouzhou provided Rmb250 million and Rmb50 million respectively.

Proceeds are for the construction of Nanjing Jiangning Wanda Square.

Zoomlion Heavy Industry Science & Technology has signed a $100 million three-year deal through mandated lead arrangers and bookrunners SMBC and Westpac.

Syndication saw Banca Monte dei Paschi di Siena, First Commercial Bank, Intesa Sanpaolo and Korea Development Bank join in as arrangers.

Proceeds are for refinancing and working capital purposes.

 


Hong Kong

Kingboard Laminates Holdings has obtained a HK$3 billion-equivalent four-year facility through bookrunners and mandated lead arrangers Citi, HSBC and Standard Chartered.

The facility is split into a HK$2.4 billion term loan and an $81 million revolver.

Syndication saw China Construction Bank, ICBC, Mizuho, Nanyang Commercial Bank and SMBC join in as mandated lead arrangers while Tai Fung Bank and Taishin International Bank came in as coordinating arrangers. Banca Monte dei Paschi di Siena, Bank of East Asia, Bank of Taiwan, Bank Sinopac, Hua Nan Commercial Bank, Mega International Commercial Bank, Taiwan Cooperative Bank, Wing Hang Bank and Yuanta Commercial Bank came in as arrangers.

Proceeds are for capital expenditure and corporate funding requirement of the borrower’s core business.

Xtep International Holdings has successfully completed a $100 million-equivalent three-year dual-tranche term loan through sole bookrunner Hang Seng Bank.

The guaranteed facility is split into an $82 million tranche and a HK$140 million portion, and will be repaid in seven equal quarterly installments.

Syndication saw Chinatrust Commercial Bank and Wing Lung Bank join in as mandated lead arrangers while China Development Industrial Bank, Citic Bank, First Commercial Bank, Hua Nan Commercial Bank and ICBC acted as arrangers.

Proceeds are for working capital purposes.

 


India

Gupta Coal International has secured an $18 million eight-year project financing through sole bookrunner and mandated lead arranger SBI Capital Markets.

The term loan will be repaid in 28 quarterly instalments.

Syndication saw Export-Import Bank of India join in as a lender.

Proceeds are for the development of a coal mine in Indonesia.

Renew Wind Energy (Rajkot) has recently concluded a Rs950 million 14-year, three-month term loan through sole bookrunner and mandated lead arranger SBI Capital Markets.

Sponsored by Renew Wind Power, the facility will be repaid in 52 quarterly instalments after a one-year grace period.

Allocations saw PTC India Financial Services contribute Rs950 million.

Proceeds are for the construction of a 25.2MW wind farm.

 


Malaysia

HNG Capital has secured a M$370 million four-year term loan through sole bookrunner and mandated lead arranger OCBC.

Final allocations saw the lead contribute M$221 million while joint lead arranger AmInvestment Bank pledged M$148 million.

Proceeds are for the acquisition of Leader Universal Holdings.

Press Metal Bintulu has obtained a M$350 million eight-year term loan through mandated lead arrangers Maybank and RHB Bank.         

The deal will be repaid in 24 quarterly instalments after a two-year grace period.

Proceeds are for the construction and development of an aluminium smelting plant project in Samalaju Industrial Park, Indonesia.

Prime Resources Corp has signed a $150 million seven-year facility through sole bookrunner and mandated lead arranger OCBC.

The debt package comprises of a $120 million term loan and a $30 million revolver.

Final allocations saw the lead pledge $70 million while mandated lead arrangers Maybank joined in with $50 million and RHB Bank ended up with $30 million.

Proceeds are for the development of plantation lands and working capital purposes.

 


South Korea

Korea South-East Power has secured a $300 million loan-style floating rate note due in 2014 on a club-basis through mandated lead arrangers ANZ, Citi, DBS, HSBC, Mizuho, SMBC and United Overseas Bank.

Proceeds are for working capital and general corporate purposes.

Yeong Ju SMC II has obtained a W50 billion multi-tranche facility through sole bookrunner and mandated lead arranger Korea Development Bank.

The debt package is split into a two 22-year, three-month loans of W40 billion and W3.7 billion, a W4.4 billion 19-year, nine-month facility and a W2 billion three-month standby loan.

Syndication saw HeungKuk Life Insurance, Korea BTL Infrastructure Fund, Kyobo Life Insurance, Samsung Fire & Marine Insurance and Samsung Life Insurance join in as participants.

Proceeds are for the construction of sewage system in YeongJu City, South Korea.

 


Taiwan

New Brilliance has signed a $25 million seven-year term loan on a club-basis through mandated lead arranger Chinatrust Commercial Bank, Citi, Mega International Commercial Bank, Shanghai Commercial & Savings Bank and Taipei Fubon Commercial Bank.

Proceeds are to finance part of the acquisition cost of a Panamax bulk carrier.
 

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