Loan Week, October 24-30

A roundup of the latest syndicated loan market news.

Australia

Lend Lease Corp has completed a $375 million three-year bank guarantee facility through bookrunners and mandated lead arrangers Bank of America Merrill Lynch, Barclays and Standard Chartered.

Final allocations saw the leads commit $75 million each while ANZ, DBS and HSBC joined in with $50 million apiece as mandated lead arrangers.

Proceeds are for general corporate purposes.

China

Agile Property has amended and extended a $265 million one-year term loan through mandated lead arrangers Hang Seng Bank, HSBC and Standard Chartered.

The original $475 million facility was signed in April 2014.

Proceeds are for refinancing purposes.

Alibaba Group has secured a $3 billion five-year term loan on Monday (October 27) through bookrunners and mandated lead arrangers Citi, Deutsche Bank, JPMorgan and Morgan Stanley.

Final allocations saw the lead provide $380 million each while Credit Suisse, Goldman Sachs and Mizuho joined in with $260 million apiece as mandated lead arrangers. BNP Paribas, DBS, HSBC and ING came in with $175 million each.

Proceeds are for working capital and general corporate purposes.

CNOOC Ningbo Daxie Petrochemical has inked a $300 million five-year term loan on a club basis through mandated lead arrangers Citi, Commonwealth Bank of Australia, Credit Agricole, HSBC, JPMorgan, Societe Generale, Standard Chartered and Westpac.

Proceeds are for general corporate purposes.

Hebei China Coal Risun Coking has obtained a Rmb500 million three-year term loan through sole bookrunner and mandated lead arranger Credit Agricole.

Syndication saw Bank of China, Chang Hwa Commercial Bank and Taiwan Cooperative Bank join in as lead arrangers.

Proceeds are for working capital purposes.

Hong Kong

China Resources Power Holdings has inked a $111 million-equivalent four-year term loan through sole bookrunner and mandated lead arranger Mizuho.

The loan package is split into a HK$500 million portion and a $47 million credit.

Syndication saw IBJ Leasing, KEB Asia Finance, Korea Exchange Bank, National Bank of Kuwait and Shanghai Commercial Bank join in as lenders.

Proceeds are for refinancing and general corporate purposes.

Taiwan

Pacific Sogo Co Ltd has signed a NT$6 billion loan package through joint bookrunners and mandated lead arrangers Bank of Taiwan, CTBC, Mega International Commercial Bank and Taiwan Cooperative Bank.

The financing is split into a NT$3 billion five-year term loan, a NT$2 billion five-year revolver and a NT$1 billion one-year commercial paper.

Syndication saw Agricultural Bank of Taiwan, Bank of Kaohsiung, Chang Hwa Commercial Bank, China Construction Bank, Grand Bills Finance, Hua Nan Bank, International Bills Finance, Land Bank of Taiwan, Mega Bills Finance, Taiwan Cooperative Bills Finance and Yuanta Bank come in as participants.

Proceeds are for refinancing and working capital purposes.

 

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