Loan Week, November 7-13

A roundup of the latest syndicated loan market news.

Australia

Recall Holdings has obtained a $1.1 billion five-year revolver through sole bookrunner and mandated lead arranger Commonwealth Bank of Australia.

Final allocations saw the lead take $200 million while Bank of America Merrill Lynch and HSBC came in with $200 million apiece as mandated lead arrangers. ANZ lent $150 million while Barclays and RBS joined in with $125 million each as lead arrangers. Commerzbank concluded the syndicate with $50 million as arranger.

Proceeds are to refinance existing indebtedness.

Hong Kong

Globaland has secured a $250 million two-year term loan through sole bookrunner and mandated lead arranger Standard Chartered.

The facility is guaranteed by Shui On Land.

Syndication saw Bangkok Bank, China Citic Bank International and Tai Fung Bank join in as participants.

Proceeds are to support property development and refinancing purposes.

Tongda Group Holdings has inked a HK$350 million three-year term loan through sole bookrunner and mandated lead arranger HSBC.

Final allocations saw the lead commit HK$180 million while Bank of Tokyo-Mitsubishi UFJ came in with HK$100 million as mandated lead arranger. KBC Bank pledged HK$70 million.

Proceeds are for working capital purposes.

Indonesia

Astra International has sealed a $300 million three-year revolver on a club basis through mandated lead arrangers ANZ, Bank of Tokyo-Mitsubishi UFJ, Citi, HSBC, Mizuho, OCBC, SMBC and UOB.

Final allocations saw Bank of Tokyo-Mitsubishi UFJ, Mizuho, HSBC and SMBC provide $50 million each while ANZ and Citi lent $30 million. OCBC and UOB concluded the syndicate with $20 million.

Proceeds are for general corporate purposes.

Japan

Orix Corp has sealed a $278 million one-year revolver through bookrunners ANZ and Standard Chartered.

Syndication saw AmBank, CIMB and RHB Bank join in as mandated lead arrangers.

Proceeds are for working capital and general corporate purposes.

Taiwan

King Yuan Electrics has signed a NT$3.9 billion five-year term loan through bookrunners and mandated lead arrangers Bank of Taiwan, Bank SinoPac, CTBC Bank, First Commercial Bank, Hua Nan Commercial Bank, Land Bank of Taiwan, Mega International Commercial Bank and Taipei Fubon Commercial Bank.

The deal is split into two NT$2 billion tranches.

Syndication saw Chang Hwa Commercial Bank, E Sun Commercial Bank, Taiwan Business Bank and Taiwan Cooperative Bank join in as co-arrangers.

Proceeds are for capital expenditure and working capital.

Taroko Development Corp has obtained a NT$2.4 billion seven-year term loan through sole bookrunner and mandated lead arranger Mega International Commercial Bank.

The financing is split into a NT$1.9 billion credit, a NT$340 million loan and a NT$200 million portion.

Syndication saw Agricultural Bank of Taiwan, Hua Nan Bank, Taiwan Business Bank and Taiwan Cooperative bank come in as lead arrangers while Bank of Kaohsing, Far Glory Life Insurance, Second Credit Cooperative Of Keelung, Shin Kong Bank, Tamshui First Credit Cooperative Bank and Taishin International Bank joined in as managers.

Proceeds are for capital expenditure and working capital purposes.

Wealthplus Holdings has secured a $100 million five-year term loan on a club basis through mandated lead arrangers Bank of Tokyo-Mitsubishi UFJ, Credit Agricole and Mizuho.

Proceeds are to refinance existing indebtedness.

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