Hope Downs Iron Ore has successfully raised A$370 million from the market via mandated arrangers BNP Paribas, National Australia Bank and Royal Bank of Scotland. The facility consists of A$315 million, A$35million and A$20 million ten year tranches. Rio Tinto Minera SA (RTM) and Kumba Resources are sponsoring the deal.
Mandated arrangers BNP Paribas committed A$100 million and National Australia and Royal Bank of Scotland held A$85 million each while Bank of Scotland and Commonwealth Bank of Australia joined as lenders with tickets of A$50 million apiece.
Proceeds are to support a mine construction project in the Pilbara region of Western Australia.
Santos Finance Unit has mandated Commonwealth Bank of Australia to lead arrange a A$606 million facility. Santo Finance tapped the market via a A$350 million term loan in 1996. ANZ Investment Bank, Bank of America, Citibank (Australia), Commonwealth Bank of Australia and JP Morgan (Australia) were the mandated arrangers.
Rivercity Motorway Finance has signed a A$1.8 billion dual tranche fundraising with a syndicate of 24 banks. Proceeds are to support the North South Bypass Tunnel project in Brisbane Queensland.
The facility is split into A$1.3 billion and A$503 million four year, two months loans. Mandated arrangers ABN Amro, Calyon, National Australia Bank and WestLB provided A$120 million apiece and HSBC lent A$82 million. Arrangers ANZ Investment Bank, BBVA (Singapore), China Construction Bank, Commonwealth Bank of Australia, Depfa Bank, HypoVereinsbank (Singapore), ICBC (Asia), KBC Bank, United Overseas Bank (Sydney) and Westpac held A$82 million each, co-arranger DZ Bank (Hong Kong) took A$73 million while lead managers Allied Irish Bank contributed A$71 million, BayernLB (Hong Kong), Fortis Bank, HSH Nordbank, Mega International Commercial Bank and Oversea-Chinese Banking Corp joined with tickets of A$50 million apiece. Erste Bank and NordLB (Singapore) ended up with A$33 million and A$30 million respectively.
China
Asia Timber ProductÆs $86 million financing has yet to reach financial close. ABN Amro and Royal Bank of Scotland are the mandated arrangers. Proceeds will be used for working capital purposes. Banks have until mid-November to revert.
China Special Steel HoldingsÆ $25 million three year fundraising was signed on Oct 20 via sole mandated arranger Citic Ka Wah Bank. The deal offers a spread of 115bp over Libor. Proceeds are for general corporate purposes.
Weiqiao TextileÆs $280 million three year term loan has been signed and allocated. The facility offers a margin of 110bp over Libor. Proceeds are to refinance exiting debt and to provide for working capital requirements.
Mandated arrangers Bank of China (Shangdong) and Royal Bank of Scotland took $30 million apiece, China Construction Bank (Hong Kong) held $25 million and Bank of Tokyo-Mitsubishi UFJ, Commerzbank (Hong Kong), Deutsche Bank (Beijing), Mizuho Corporate Bank and WestLB contributed $20 million apiece. Arrangers Bumiputra-Commerce Bank (Hong Kong), Norinchukin Bank (Singapore) and Sanpaolo IMI S.p.A. (Shanghai) lent $10 million each. Joining as senior managers are Banca Intesa (Shanghai) and Bank of China (Macau) contributing $7.5 million apiece, State Bank of India (Hong Kong) and Korea Exchange Bank (Hong Kong) pledging $7 million each, Bank of China (Sydney) taking $6 million and Asia Commercial Bank (Shenzhen), Korea Development Bank (Shanghai), Ping An Bank (Fuzhou), Shanghai Commercial Bank, UBAF (Hong Kong) and United Overseas Bank (Beijing) ending up with $5 million apiece.
Hong Kong
Rumor has it that Hong Kong Disneyland is sounding out banks for a HK$3.2 billion facility to refinance an existing loan signed in November 2000. The original loan was arranged by Chase Manhattan Asia which brought in 27 other banks, including Bank of China (Hong Kong), BNP Paribas, HSBC and Standard Chartered. The borrowing entity was Hong Kong International Theme Parks, which is a joint venture between US-based Disneyland and the Hong Kong government. The project financing was used to fund the construction and development of the Disneyland theme park in Hong Kong.
Joint mandated lead arrangers Standard Chartered and SMBC have won the mandate for River Trade TerminalÆs HK$2 billion financing. The five year facility is split into a HK$1.7 billion term loan and a HK$300 million revolving credit. Sun Hung Kai Properties and Hutchison Port Holdings are acting as the guarantors. A wider syndication will be launched shortly.
Tianjin Development Holdings has completed syndication of a HK$2 billion fundraising with a total of 21 banks joining in the deal. The five year financing is split between a HK$860 million term loan and a HK$1.14 billion revolver which will then be converted into a term loan three years after the drawdown. It is priced at 47bp and offers a top level all-in of 52bp over Hibor.
Mandated coordinating arrangers Calyon, Rabobank, HSBC and Hang Seng Bank are taking HK$170 million each while Bank of China (Hong Kong), Bank of East Asia, Bank of Tokyo Mitsubishi UFJ and Mizuho Corporate Bank are pledging HK$160 million apiece and came in as equal status coordinating arrangers.
Arrangers Bank of China (Shanghai), China Construction Bank (Hong Kong), ICBC Asia and Nan Yang Commercial Bank are contributing HK$83 million each. Senior managers are BNP Paribas, OCBC and Wing Lung Bank holding HK$56 million apiece while six others û Bank of Communications (Hong Kong), Dah Sing Bank (Shenzhen), Liu Chong Hing Bank, Maybank, Public Bank (Hong Kong) and Shanghai Pudong Development Bank û joined with holds of HK$30 million each.
Proceeds will be used to refinance an existing facility signed in July 2003 and for general corporate purposes. Signing is targeted for early November.
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