Loan Week, November 14-20

A roundup of the latest syndicated loan market news.

Hong Kong

Shanghai Electric Newage has sealed a €400 million one-year term loan on a club basis through mandated lead arrangers Bank of China, Barclays, Citi, Deutsche Bank, HSBC, Intesa Sanpaolo, JPMorgan, RBS and Societe Generale.

Proceeds are to refinance existing indebtedness.

India

Essel Jabalpur MSW has secured a Rs1.2 billion 13-year term loan through sole bookrunner and mandated lead arranger State Bank of India.

Final allocations saw the lead commit Rs490 million while India Infrastructure Finance joined in with Rs350 million. Vijaya Bank lent Rs250 million while Jayneer Capital concluded the syndicate with Rs100 million.

Proceeds are to support project financing.

Reliance Jio Infocomm has obtained a $1.5 billion term loan through bookrunners and mandated lead arrangers ANZ, Bank of America Merrill Lynch, Barclays, BNP Paribas, Bank of Nova Scotia, Bank of Tokyo-Mitsubishi UFJ, Citi, Credit Agricole, DBS, HSBC, Mizuho, RBS, Standard Chartered, SMBC and Westpac.

The facility is split into a $1 billion five-year and six-month tranche and a $500 million seven-year portion.

Syndication saw National Bank of Abu Dhabi and UOB join in as mandated lead arrangers while Abu Dhabi Commercial Bank, Sumitomo Mitsui Trust Bank and Societe Generale came in as lead arrangers. Bank of Taiwan, Land Bank of Taiwan and Mega International Commercial Bank joined in as co-arrangers while CTBC Bank and Iyo Bank came in as lead managers. Hyakujushi Bank concluded the syndicate as manager.

Proceeds are to refinance existing indebtedness.

Indonesia

Adira Dinamika Multi Finance has completed a $100 million three-year term loan through sole bookrunner and mandated lead arranger BNP Paribas.

Final allocations saw the lead commit $75 million while KDB joined in with $25 million as mandated lead arranger.

Proceeds are for general corporate purposes.

Bank Negara Indonesia (Persero) has inked a $260 million two-year term loan through bookrunners and mandated lead arrangers BNP Paribas and Wells Fargo.

Final allocations saw the leads contribute $50 million each while Commerzbank, CTBC Bank, National Bank of Abu Dhabi and UOB join in with $40 million apiece as mandated lead arrangers.

Proceeds are for general corporate purposes.

Singapore

Fernvale Development has secured a S$560 million five-year term loan on a club basis through mandated lead arrangers OCBC and UOB.

Proceeds are to part finance land cost, development charge and construction costs.

HSBC Institutional Trust Services (Singapore) has sealed a S$400 million facility on a club basis through mandated lead arrangers ANZ, DBS, HSBC, Standard Chartered and UOB.

The facility is split into a S$185 million four-year term loan, a S$150 million five-year term loan and a S$65 million four-year revolver.

Proceeds are to refinance existing indebtedness and general corporate purposes.

Mercuria Energy Trading has obtained a $1 billion financing through bookrunners and mandated lead arrangers ANZ, Bank of Tokyo-Mitsubishi UFJ, DBS, Emirates NBD PJSC, First Gulf Bank, ICBC, ING, RBS, Societe Generale and SMBC.

The debt package comprises of a $422 million and a $200 one-year revolvers and a $378 million three-year term loan.

Syndication saw Al Ahli bank of Kuwait, Arab Petroleum Investments Corp, HSBC, Mizuho, Rabobank and Standard Chartered join in as mandated lead arrangers while Banco Do Brasil, Bank of China, BNP Paribas, Indian Bank, OCBC, State Bank of India and Westpac came in as lead arrangers.

Commonwealth Bank of Australia, CTBC Bank, Garanti Bank International, Hang Seng Bank, Indian Overseas Bank, Qatar National Bank, UBS and UOB joined in as arrangers while Bank of East Asia, Mashreqbank, Mega International Commercial Bank, Raiffeisen Bank International, Union de Banques Arabes et Francaises, Union National Bank, and Zenith Bank concluded the syndicate as co-arrangers.

Proceeds are for refinancing purposes.

Taiwan

Shang Chen Steel has completed a NT$3.5 billion five-year revolver on a club basis through mandated lead arrangers CTBC Bank, E.Sun Commercial Bank, First Commercial Bank, Hua Nan Commercial Bank, Land Bank of Taiwan and Taipei Fubon Commercial Bank.

Margin is 65bp over the 3m- and 6m- TAIBOR.

Proceeds are to refinance existing indebtedness and working capital purposes.