Roc Oil signed a $305 million 364 day term loan on November 7. Mandated arranger Commonwealth Bank of Australia committed $235 million while BOS International (Australia) and Societe Generale joined as lenders with tickets of $35 million each. Proceeds are for acquisition purposes.
China
SIHL FinanceÆs HK$3 billion fundraising was signed on Thursday (Nov 16) via mandated arrangers Bank of China (Hong Kong), BNP Paribas, Calyon, CCB International Finance, DBS Bank, SMBC and HSBC. The five year facility saw 10 banks join in general syndication.
Joining as arrangers are Agricultural Bank of China, Bank of China (Macau), Bank of East Asia, BBVA, Rabobank International and Mizuho Corporate Bank. Co-arrangers are Bank of China (Singapore), Tai Fung Bank, Nanyang Commercial Bank and Wing Lung Bank.
BNP Paribas and HSBC are running the books while Bank of China (Hong Kong) is the facility agent and CCB International Finance is acting as the documentation agent. Proceeds will be used to repay existing debt.
Hong Kong
Hongkong Land Treasury ServicesÆ S$800 million financing has been launched via mandated coordinating arrangers Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, DBS Bank, HSBC, Standard Chartered and Mizuho Corporate Bank.
The term facility carries a margin of 29bp over Sibor and banks have been invited to join on two levels. Arrangers pledging S$40 million or above receive 22.5bp, translating to a top level all-in of 33.5bp; lead managers holding S$20 million to S$39 million get 17.5bp for an all-in of 32.5bp.
Proceeds will be used for working capital. Banks have until early December to revert.
India
Syndication of Bharat Petroleum Corp (BPCL)Æs $200 million financing has yet to close with banks expected to revert by the end of this month. Mandated coordinating arrangers BNP Paribas, Calyon, Mizuho Corporate Bank and Standard Chartered are all bookrunners on the deal. BNP Paribas is both the documentation and facility agent.
The five year facility features a spread of 59bp over Libor and is inviting banks to participate on three levels. Lead arrangers committing $20 million or above get 35bp over Libor, leading to a top level all-in of 66bp; arrangers lending $10 million to $19 million receive 25bp for an all-in of 64bp while co-arrangers holding $5 million to $9 million earn 15bp for an all-in of 62bp. Proceeds will be used for capital expenditure purposes.
HDFC BankÆs $100 million fundraising has been completed. There are 10 banks participating in the transaction. Mandated arrangers DZ Bank, Mizuho Corporate Bank and Natexis Banques Populaires committed $15 million each and Raiffeisen Zentralbank Oesterreich and DBS Bank provided $13 million apiece.
A consortium of banks has launched India Oil CorpÆs $200 million yen equivalent facility into general syndication. The arranger group includes BNP Paribas, Bank of Tokyo-Mitsubishi UFJ, Calyon, Citigroup, HSBC, ING Bank, Mizuho Corporate Bank and Standard Chartered. All mandated arrangers except Bank of Tokyo Mitsubishi UFJ are running the books and BNP Paribas is acting as the facility agent. The 3.17 year deal carries a margin of 30bp over Libor. Banks have until December 15 to respond. Proceeds will be used to refinance an existing facility signed in December 2004.
Tata SonsÆ $150 million term loan has been launched into sub-underwriting via mandated coordinating arrangers Banc of America Securities, Barclays Capital and Standard Chartered. The six year amortising facility offers a top level all-in of 59bp over Libor. Proceeds will be used for working capital. A wider syndication will be launched shortly.
Tata Steel, another subsidiary of Tata Group, is returning to the market with a $1.45 billion facility via joint mandated lead arrangers ABN Amro and Standard Chartered. The facility has been downsized from $1.78 billion and launched into general syndication. Around 30 banks are being invited to join and 17 banks are already processing credit approvals. Proceeds will be used to support the $10.1 billion acquisition of Corus Group. Financial close is scheduled for November 17 (Friday).
The Ç100 million fundraising for Reddy Holdings has been completed via sole mandated lead arranger Citigroup. The five year facility saw Calyon, Mizuho Corporate Bank, SMBC and State Bank of India join in syndication. Proceeds will be used to refinance an existing facility.
Indonesia
Tunas Financindo SaranaÆs $20 million facility was signed on November 7. Sole mandated arranger Standard Chartered (Singapore) was joined by SMBC (Singapore). Proceeds will be used for working capital and general corporate purposes.
Malaysia
Klebang Capital has signed a $500 million fundraising via a total of five banks. Khazanah Nasional is providing a guarantee. Sole mandated arranger BNP Paribas took $170 million, arrangers BayernLB held $120 million, Mizuho Corporate Bank and Oversea-Chinese Banking Corp pledged $80 million each and DZ Bank joined with a ticket of $50 million. Proceeds are to refinance existing debt and to provide for general corporate requirements. The signing ceremony was held on November 7.
Philippines
Mandated arrangers Banco de Oro, Calyon, Development Bank of the Philippines and HSBC have launched NutriAsia PacificÆs $165 million financing into general syndication.
The facility is split between a $115 million seven year term loan and a $50 million three year revolving credit. It is priced at 220bp over Libor and is being marketed to banks on three tiers. Arrangers providing $20 million or above earn 75bp over Libor, translating to a top level all-in of 234bp; co-arrangers taking $10 million to $19.9 million receive 55bp over Libor for an all-in of 230bp while lead managers committing $5 million to $9.9 million get 40bp over Libor for an all-in of 227bp.
Calyon and HSBC are running the books and proceeds will be used to refinance an existing facility signed in January 2006. Banks have until December 4 to respond.
South Korea
Korea Exchange BankÆs $300 million fundraising has been launched via mandated lead arrangers BayernLB, Calyon, DBS Bank, HSBC, HSH Nordbank, Oversea-Chinese Banking Corp, Standard Chartered and SMBC.
The dual tranche facility comprises a one year term tranche that is priced at 7bp over Libor and a three year tranche that features a margin of 11bp over Libor. Banks are being invited to join on three levels. Arrangers holding $10 million or above receive 5.5bp on the one year tranche and 9bp on the three year tranche, translating to a top level all-in of 12.5bp and 16bp respectively; co-arrangers lending $5 million to $9 million get 4.5bp and 7bp for an all-in of 11.5bp and 15bp accordingly; while lead managers taking $2 million to $4 million earn 3.5bp and 5bp for an all-in of 10.5bp and 14bp.
Proceeds will be used for working capital and the deadline is slated for November 22 (next Wednesday).
Taiwan
Rich Achieve Enterprise and ShenMao TechnologyÆs NT$1.2 billion revolver has been signed via mandated arrangers Taiwan Business Bank and Chinatrust Commercial Bank. The five year facility carries a margin of 50bp over the CP rate. Proceeds are to refinance existing debt and to provide working capital requirements.
Mandated arrangers Taiwan Business Bank and Chinatrust Commercial Bank provided NT$350 million and NT$150 million respectively. Participants Hua Nan Commercial Bank lent NT$150 million, Shin Kong Commercial Bank provided NT$120 million, Chang Hwa Commercial Bank and Taiwan Cooperative Bank contributed NT$100 million each, Cathay United Bank pledged NT$70 million, Hsinchu International Bank and Taipei Fubon Commercial Bank committed NT$60 million apiece and International Bank of Taipei ended up with NT$40 million.
Wistron CorpÆs $240 million financing has been signed on a club basis. The 364 day facility has been downsized from $300 million. The margin is 20bp over Sibor and there is a commitment fee of 10bp.
Mandated arrangers Cathay United Bank, Fuhwa Bank, HSBC (Taipei), Hua Nan Commercial Bank, Land Bank of Taiwan, Oversea-Chinese Banking Corp, Shanghai Commercial & Savings Bank and Taiwan Business Bank contributed $30 million apiece. Proceeds are for working capital purposes.
Thailand
Advanced Info Service has successfully raised $260 million via joint mandated lead arrangers Barclays Capital and Citigroup. The five year facility saw a total of five banks join in syndication. Arrangers are DBS Bank, Export Development Canada and SMBC. Citigroup is the sole bookrunner. Proceeds will be used for working capital and signing took place on November 10 in Bangkok.
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