Loan Week, October 17-23

A roundup of the latest syndicated loan market news.

Australia

M2 Group has inked a A$363 million revolver through sole bookrunner and mandated lead arranger Commonwealth Bank of Australia.

The facility is split into a A$23 million two-year tranche, a A$70 million four-year portion and a A$270 million three-year facility.

Syndication saw ANZ, Goldman Sachs, HSBC, NAB, SMBC and Westpac join in as participants.

Proceeds are to refinance existing indebtedness.

NRT Finance has signed a A$1.5 billion seven-year and six-month term loan on a club basis through mandated lead arrangers ANZ, Bank of Tokyo-Mitsubishi UFJ, HSBC, ING, Mizuho, NAB, OCBC, Standard Chartered and Westpac.

Proceeds are to support the design, construction and commissioning of the North West Rail Link.

China

China Tianyi has obtained a $35 million three-year term loan through bookrunners and mandated lead arrangers Cathay United Bank and HSBC.

Final allocations saw the leads commit $15 million each while arranger Hwatai Bank joined in with $5 million.

Proceeds are to refinance existing indebtedness.

Sound Agents has secured a $105 million two-year term loan through bookrunners and mandated lead arrangers Deutsche Bank and Taiwan Cooperative Bank.

Final allocations saw the leads contribute $30 million each while arranger Taishin International Bank lent $25 million. E.Sun Commercial Bank came in with $10 million while Chang Hwa Commercial Bank and Taiwan Business Bank concluded the syndicate with $5 million each.

Proceeds are for refinancing and general corporate purposes.

India

ACB (India) has completed a Rs4.7 billion 10-year term loan though sole bookrunner and mandated lead arranger ICICI Bank.

Final allocations saw the lead and Syndicate Bank provide Rs1 billion apiece while Bank of India and Punjab National Bank gave Rs750 million each. Indian Overseas Bank lent Rs660 million while Tata Capital concluded the syndicate with Rs500 million.

Proceeds are for refinancing purposes.

Shristi Hotel has secured a Rs2 billion 10-year and six-month revolving/term loan credit facility through sole bookrunner and mandated lead arranger Axis Bank.

Final allocations saw the lead pledge Rs1 billion while participants Central Bank of India and Corporation Bank joined in with Rs500 million each.

Proceeds are to support the construction and development of a hotel in Kolkata.

Welspun Urja Gujarat has sealed a Rs1.7 billion 14-year term loan through sole bookrunner and mandated lead arranger Yes Bank.

Final allocations saw the lead commit Rs530 million while Indian Bank joined in with Rs500 million. India Infrastructure Finance Company concluded the syndicate with Rs670 million.

Proceeds are for capital expenditure purposes.

Singapore

GP Industries has obtained a S$60 million three-year term loan through bookrunners and mandated lead arrangers OCBC and UOB.

Syndication saw First Commercial Bank, Maybank and Mega International Commercial Bank come in as participants.

Proceeds are for refinancing, working capital and general corporate purposes.

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