Optus Finance's A$725 million three-and-a-half-year revolver was sealed on November 14 via ANZ, Bank of Tokyo-Mitsubishi UFJ, Citi, Commonwealth Bank of Australia and Westpac.
Proceeds are to refinance an existing debt facility and for working capital purposes.
Service Stream Holdings Property's A$130 million two-year credit facility has been completed as a club deal by mandated arrangers Commonwealth Bank of Australia and Westpac Banking Corp.
The leads each committed A$65 million to the unsecured bullet loan. Proceeds are to refinance existing debt facilities.
A $300 million three-year fundraising for Transfield Services was completed on November 18 via mandated lead arrangers and bookrunners ANZ and Westpac.
The deal pays a spread of 275bp over Libor. Syndication saw Calyon, HSBC, Mizuho and RBS joining at lower levels.
India
Syndication of Tata Chemical's $300 million six-year term loan has been extended via bookrunners ANZ, Calyon, HSBC, Standard Chartered Bank and State Bank of India.
Pricing is split into three tiers based on a consolidated net debt to Ebitda ratio over Libor û if the leverage is below one, the margin is priced at 225bp; between two and three it pays a spread of 375bp and if greater than three, the margin is priced at 455bp.
The funds are to take out the remainder of a bridge facility signed in August.
Indonesia
Excelcomindo Pratama's $140 million three-year loan has been signed via mandated leads Bank of Tokyo-Mitsubishi UFJ, Chinatrust Commercial Bank, DBS Bank and Export Development Canada as a club deal.
Proceeds are to refinance existing debt and for capital expenditure purposes.
Profesional Telekomunikasi IndonesiaÆs $460 million dual-tranche facility has seen the arranger group expand with Chinatrust Commercial Bank and Standard Chartered Bank joining Bank Central Asia, CIMB Bank, DBS Bank, Overseas Chinese Banking Corp, PT Bank Mandiri and Royal Bank of Scotland.
The deal is expected to be launched into syndication by early next year. Proceeds are for working capital purposes and to refinance an existing bridge loan.
Malaysia
AirAsia's $283 million dual-tranche transaction was signed last week via bookrunners BNP Paribas and Natixis with Bank Rakyat, Helaba Bank and RHB Islamic Bank joining as equal status arrangers.
The debt package comprises $235 million and $47 million term loans. Final allocations saw BNP Paribas, Helaba and Natixis contribute $67 million each, while and Bank Rakyat and RHB Islamic Bank committed $47 million and $34 million respectively.
Proceeds are to support the purchase of seven A320-200 aircraft.
Philippines
A $544 million multi-tranche credit for First Gas Power was funded last week via mandated leads Bank of Tokyo-Mitsubishi UFJ, Calyon, ING Bank, KfW, Maybank, Societe Generale, Standard Chartered Bank and UniCredit Group.
The deal is guaranteed by Hermes and comprises a $282 million 13-year term loan, a $218 million 10-year portion and a $44 million tranche solely provided by KfW. The 13-year loan pays a spread of 325bp over Libor and is fully covered by Political Risk Insurance (PRI). The margin for the uncovered portion steps up from 350bp in years one to five to 375bp in years six to seven and 390bp thereafter.
Banks have been invited to join as equal-status lead arrangers committing $40 million or above for an upfront fee of 135bp. Banks joining in as lead arrangers with $20 million to $39 million receive an upfront fee of 115bp.
Proceeds are for refinancing and general corporate purposes.
Singapore
A S$350 million five-year credit for Singtel Group Treasury was signed on November 13 via mandated lead arrangers Bank of Tokyo-Mitsubishi UFJ, DBS Bank and Oversea-Chinese Banking Corp on a club basis.
Proceeds are to refinance existing debt and for working capital purposes.
Taiwan
A $34 million loan for Cayman Ton Yi Industrial Holdings was upsized from $30 million and sealed on November 12 via mandated lead arrangers and bookrunners Chang Hwa Commercial Bank, Chinatrust Commercial Bank, Mega International Commercial Bank and Taipei Fubon Commercial Bank. Taiwan Business Bank and Taiwan Cooperative Bank joined as managers while First Commercial Bank came in as a participant.
Guaranteed by Ton Yi Industrial Corp, the deal pays a spread of 90bp over Libor and has a commitment fee of 20bp.
On the same date, the same group of banks signed another NT$3.85 billion loan (increased from NT$3 billion) for Ton Yi Industrial Corp together with manager Agricultural Bank of Taiwan and participants Hua Nan Commercial Bank and Yuanta Commercial Bank.
The margin of the amortising loan is 35bp over the one-year Post Office Savings Rate and the commitment fee is 20bp.
Proceeds from the two facilities are for refinancing purposes.
Syndication of a NT$16.2 billion project financing for Kao Ming Container Terminal û the project SPV of Yang Ming Marine Transport û is close to signing via original mandated lead arrangers Mega International Commercial Bank and Taipei Fubon Commercial Bank.
E. Sun Commercial Bank, First Commercial Bank, Land Bank of Taiwan, Taiwan Business Bank and Taiwan Cooperative Bank joined the deal as equal status arrangers, while Agricultural Bank of Taiwan, Chang Hwa Commercial Bank, Export-Import Bank of Taiwan and Hua Nan Commercial Bank participated at lower levels.
The deal is split into NT$11.7 billion and NT$4.0 billion 20-year term loans, which are priced at 85bp over the one-year Postal Bureau Deposit Rate, and a NT$500 million guarantee facility, which pays a 50bp guarantee fee. The commitment fee is 5bp.
Proceeds are to support the construction of Kaohsiung Port Container Terminal No. 6. Signing is expected to take place by the end of the year or in early 2009.
Lo-Toun Steel & Iron WorksÆ NT$2.1 billion seven-year financing was signed on November 14 by mandated lead arrangers Taiwan Business Bank and Taiwan Cooperative Bank. Chang Hwa Commercial Bank and Mega International Commercial Bank came in as participants.
The fundraising is divided into NT$653 million and NT$1.45 billion term loans. Proceeds are for capital expenditure purposes.
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