GWA Group has signed a A$300 million dual-tranche facility through joint lead arrangers ANZ, Commonwealth Bank of Australia, HSBC, National Australia Bank and Westpac. The loan package is split into a A$200 million three-year tranche and a A$100 million five-year portion. Proceeds are to refinance existing indebtedness.
Toll Holdings has successfully raised a $400 million three-year dual-currency revolver for its subsidiaries BALtrans Logistics, Toll Finance, Toll Global Forwarding (Hong Kong) and Toll Group (USA) through joint bookrunner and mandated leads ANZ (Hong Kong), Citi, Commonwealth Bank of Australia and Westpac.
Syndication saw the leads contribute equally to the facility. The loan amount is available in US dollars and Hong Kong dollars. Proceeds are to refinance existing indebtedness and for general corporate purposes.
Orchid Container Finance 2011has secured a $198 million five-year term loan through mandated lead arrangers DBS and ING. The facility is priced at 185bp over Libor. Proceeds are for the sale and lease-back of containers.
Sunny Force signed a HK$600 million dual-tranche facility through sole bookrunner Credit Agricole. The three-year transaction is split into a HK$200 million term loan and a HK$400 million revolver.
Bank Sinopac, Chang Hwa Commercial Bank and First Commercial Bank joined in as participants. Proceeds are for working capital purposes.
Indian Green Grid Group completed an Rs8.5 billion eight-year term loan on Monday (May 9) through sole bookrunner and mandated lead arranger SBI Capital Markets. It will repay the facility in 24 quarterly instalments.
Syndication saw participants State Bank of India contribute Rs3.2 billion while Canara Bank pledged Rs1.2 billion. Bank of Baroda, Punjab National Bank and State Bank of Hyderabad lent Rs970 million each. State Bank of Bikaner & Jaipur and Federal Bank gave Rs730 and Rs440 million respectively.
Proceeds are for capital expenditures.
JSW Projects sealed a Rs18 billion 9.5-year term loan last week through sole bookrunner and mandated lead arranger ICICI Bank. Sponsored by JSW Investment, the facility will be repaid in 24 quarterly instalments.
Final allocations saw the lead pledge Rs9 billion while participant Union Bank of India lent Rs2.6 billion. UCO Bank provided Rs2.3 billion while Bank of India and Vijaya Bank contributed Rs1.5 billion each. United Bank of India rounded up the syndicate with Rs1.1 billion.
Proceeds are for project financing.
1Malaysia Development completed general syndication of a $300 million facility through sole bookrunner and underwriter Standard Chartered. The three-year term loan is priced at 130bp over Libor.
Final allocations saw the bookrunner commit $80 million while joint mandated lead arrangers OCBC (Labuan) and SMBC (Labuan) contributed $75 million each. Arranger Land Bank of Taiwan (Singapore) lent $25 million while lead manager First Commercial Bank (Singapore) took $15 million. Cathay United Bank (Labuan), Export-Import Bank of the Republic of China and Taiwan Cooperative Bank (Offshore Banking) ended up with $10 million respectively.
Proceeds are for working capital and investment purposes.
Hong Leong Holdings successfully obtained a S$500 million five-year dual-tranche facility on Monday (May 9) through a consortium of five mandated lead arrangers. The facility consists of a S$330 million revolver and a S$170 million term loan.
Syndication saw Bank of Tokyo-Mitsubishi UFJ (Singapore), HSBC, Maybank (Singapore), OCBC and SMBC join in as mandated lead arrangers. Proceeds are for general corporate purposes.
South Beach Consortium’s S$1.6 billion five-year term loan has been sealed through mandated lead arrangers DBS, HSBC, OCBC, SMBC (Singapore) and United Overseas Bank.
Proceeds are to refinance an existing S$800 million bridge facility signed in June 2009 and to finance the construction of South Beach.
Bookrunners Chang Hwa Commercial Bank, Mega International Commercial Bank and Taipei Fubon Commercial Bank have signed a NT$2 billion-equivalent three-year term loan for Ichia Technologies and Ichia Holdings (BVI).
The two-year extendible term loan is split into a NT$1 billion portion for working capital and a $40 million tranche for capital expenditure. Pricing for the two tranches are 90bp over the 90-day secondary CP rate and 80bp over Libor respectively.
Bank Sinopac, Land Bank of Taiwan and Taiwan Cooperative Bank came in at mandated lead arranger level while Hua Nan Commercial Bank joined in as co-arranger.
Lite-On Mobile and Perlos (Guangzhou) Electronics Components, which are both subsidiaries of Lite-On Technology, have secured $200 million and $50 million five-year loans respectively.
The $200 million loan comprises a $150 million refinancing term loan and a $50 million working capital revolver, which feature a margin of 60bp over Libor. Mandated lead arrangers include ANZ, Bank of Taiwan, Chang Hwa Commercial Bank, Chinatrust Commercial Bank, Citibank, First Commercial Bank, Hua Nan Commercial Bank, Land Bank of Taiwan, Mega International Commercial Bank, SMBC, Taipei Fubon Commercial Bank, Taishin International Bank and Taiwan Cooperative Bank. DBS joined at a lower level.
The $50 million term loan for capital expenditure is priced at 60bp over Libor. ANZ, Chang Hwa Commercial Bank, Chinatrust Commercial Bank, Citibank, Hua Nan Commercial Bank, Land Bank of Taiwan, Mega International Commercial Bank, SMBC, Taipei Fubon Commercial Bank and Taishin International Bank are the mandated lead arrangers while DBS is a co-arranger.
Long Chen Paper’s Chinese subsidiaries closed a $152 million five-year working capital facility last week through joint bookrunners First Commercial Bank, Taipei Fubon Commercial Bank, Taishin International Bank and Taiwan Business Bank.
The term loan is priced at 135bp above Libor.
Syndication saw Chang Hwa Commercial Bank, Chinatrust Commercial Bank, DBS, Industrial Bank of Taiwan, Sunny Bank, Taichung Commercial Bank, Taiwan Cooperative Bank, Taiwan Shin Kong Commercial Bank and Yuanta Commercial Bank contribute at lower tiers.
Taiwan Calcom International Computer Graphic completed a NT$500 million three-year revolving credit facility last week through bookrunners Cathay United Bank, Entie Commercial Bank, First Commercial Bank, Taiwan Business Bank and Taiwan Cooperative Bank.
The bullet facility offers a spread of 165bp over the secondary CP rate with an interest-rate floor of 2.5%. General syndication saw Chang Hwa Commercial Bank, Hua Nan Commercial Bank, Jih Sun Commercial Bank, King’s Town Bank and Land Bank of Taiwan participate as managers.
Proceeds are for refinancing an existing loan of the same amount signed in 2008 and working capital purposes.