Australia
BlueScope Steel (Finance)'s A$1.3 billion transaction was signed on May 5 via mandated lead arrangers ANZ, Commonwealth Bank of Australia, Credit Suisse and Westpac. General syndication is expected to be launched within a fortnight.
The loan is split into two revolvers comprising a A$200 million two-year tranche and a A$1.1 billion three-year portion priced at 330bp and 350bp over the Australian Domestic Bill Rate (ADBR) respectively.
The deal is guaranteed by BlueScope Steel and proceeds are for refinancing and general corporate purposes.
China
Shanghai Chengtou Corp's Rmb13.7 billion syndicated lending has been completed via China Development Bank, Industrial & Commercial Bank of China and Shanghai Pudong Development Bank, with Agricultural Bank of China, Bank of China, China Construction Bank and China Minsheng Banking Corp joining in at lower levels.
Proceeds are to support the Rmb21.2 billion A15, A16 and A17 expressway development projects in Shanghai, China.
Hong Kong
A HK$450 million 4.25-year term loan for Fountain Set (Holdings) has been signed on a club basis.
Mandated lead arrangers Bank of China (Hong Kong), HSBC and Standard Chartered Bank each provided HK$150 million.
Guaranteed by parent company Fountain Set, the deal is priced at 225bp over Hibor. Proceeds are to refinance existing indebtedness and for working capital purposes.
A self-arranged HK$5.2 billion debt package for Hutchison Telephone Company and Hutchison Telecommunications Hong Kong Holdings was completed on a club basis on May 8 through mandated leads Calyon, DBS, HSBC, Sumitomo Mitsui Banking Corp and Standard Chartered Bank .
The one-year debt package comprises a HK$4.5 billion term loan and a HK$700 million revolving facility, priced at 141bp over Hibor and with an upfront fee of 10bp.
Final allocations saw DBS take HK$2.4 billion while Calyon, HSBC and Standard Chartered Bank lent HK$750 million apiece. Sumitomo Mitsui Banking Corp gave HK$550 million.
Proceeds are to refinance a HK$9 billion deal signed in 2008 and for working capital purposes.
General syndication of Noble Group's $700 million debt was launched this week through bookrunners ING, Royal Bank of Scotland, Societe Generale and Standard Chartered Bank.
