loan-week-november-29

Loan Week, November 2-9

A digest of the latest loan news.
China

China International Trust Investment Corp CITIC Group has awarded the mandate for its $200 million five year facility to Bank of Tokyo-Mitsubishi UFJ, HSBC, ING Bank and Mizuho Corporate Bank. Sole bookrunner HSBC is the documentation and facility agent. Proceeds will be used for working capital. A wider syndication will be launched shortly.

The borrower last tapped the market when its subsidiary, CITIC Pacific raised HK$7.2 billion in April 2006. That facility featured a spread of 32bp over Libor and saw a total of 22 banks participating.

Market talk is that Xinyi Glass Holdings, ChinaÆs largest exporter of auto glass, is planning to raise Rmb600 million worth of loans. Proceeds...
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