Loan week, October 30-November 5

Australia

Felix Resources has successfully secured a A$383 million multi-tranche debt package from mandated lead arrangers and bookrunners Commonwealth Bank of Australia and Sumitomo Mitsui Banking Corp. BNP Paribas, WestLB and Westpac are the other lenders in the deal.

The transaction comprises a A$150 million five-year term loan, a A$133 million five-year leveraged finance lease, a A$50 million two-year working capital facility and a A$50 million two-year revolving credit.

Proceeds are to fund the construction and development of the Moolarben Coal Project and for general corporate purposes.

Westfield's $1.36 billion forward start facility inked in mid-August was further upsized to $1.42 billion in late October with Lloyds Bank signed into the Accordion feature. 

With Lloyds Bank having joined in as a co-arranger with a $60 million ticket in the revolving portion, the debt package is now split into a $1.3 billion revolving credit and a $110 million term loan tranche.

Proceeds are to refinance a $1.65 billion portion of a $4.7 billion facility signed in June 2007.

China

A Rmb875 million credit facility for Hebei Risun Coking was sealed last week via sole bookrunner Calyon.

Guaranteed by Xingtai Risun Coking, the three-year transaction is priced at 110% of the PBOC rate.

Final allocations saw the lead and co-lead arrangers Agricultural Bank of China and China Bohai Bank contribute Rmb200 million each, while senior managers Bank of Dalian and Postal Savings Bank of China committed Rmb100 million apiece. Hana Bank (China) came in with $75 million.

Proceeds are for working capital purposes.

Hong Kong

A HK$650 million three-year term loan for Apple Daily was completed on October 30 via sole mandated lead arranger and bookrunner HSBC. Bank Sinopac, Chang Hwa Commercial Bank, DBS Bank, Hua Nan Commercial Bank, Industrial Bank of Taiwan, Shanghai Commercial & Savings Bank and Taiwan Business Bank participated at lower levels.

The financing was guaranteed by Next Media and features an amortising repayment schedule. Proceeds are for working capital purposes.

Noble Group's $2.4 billion multi-tranche fundraising was upsized from $1.8 billion and signed on October 28 via bookrunners Agricultural Bank of China, Bank of Tokyo-Mitsubishi UFJ, China Development Bank, Commerzbank, DBS Bank, HSBC, ING, J.P. Morgan, Royal Bank of Scotland, Societe Generale and Standard Chartered Bank. China Minsheng Bank, Bank of Nova Scotia, Fortis Bank and Mizuho Banking Corp joined as equal status lead arrangers.

The facility is split into a $645 million 364-day new loan priced at 135bp over Libor, an $877 million one-year facility priced at 190bp over the same benchmark, and an $877 million two-year facility priced at 240bp.

Apart from the 14 top-tier lenders, there are four lead arrangers, 10 arrangers and 35 co-arrangers participating in the financing.

Proceeds from the new loan are for general corporate purposes, while the other portions are to extend a $1.2 billion revolving credit signed in June 2007.

India

Abhijeet Madc Nagpur Energy successfully secured a 13.75-year dual-currency transaction on October 30 from sole mandated lead arranger and bookrunner Axis Bank.

The deal comprises a Rs5.7 billion term loan and a $30 million portion.

The lead committed Rs2 billion, while participants Bank of Maharashtra, Indian Bank, State Bank of Hyderabad and State Bank of Travancore took Rs500 million apiece. UCO Bank, Vijaya Bank and India Infrastructure & Finance pledged Rs1 billion, Rs750 million and $30 million respectively.

Proceeds are to finance the construction of a 175MW coal-based thermal power plant based at Nagpur, India.

A $175 million seven-year debt package for Bhushan Power & Steel has been sealed via sole mandated lead arranger and bookrunner State Bank of India.

The lead contributed $39 million to the financing, while participants Punjab National Bank and Union Bank of India committed $28 million and $20 million respectively. Canara Bank and Indian Overseas Bank each gave $18 million. Bank of India lent $15 million and Bank of Baroda pledged $12 million. Allahabad Bank and Syndicate Bank provided $10 million apiece and Indian Bank rounded out the group with a hold of $5 million.

The deal pays a spread of 475bp over Libor and proceeds are for project financing purposes.

Educomp Solutions' Rs1.7 billion 4.6-year term loan has been inked via sole mandated lead arranger and bookrunner State Bank of India. Canara Bank, Standard Chartered Bank and State Bank of Patiala joined in the deal at lower levels.

The deal is priced at 120bp per annum and is scheduled to be repaid in 18 quarterly installments after a grace period of two months.

Proceeds are for general corporate purposes.

A Rs9.6 billion 15-year term loan for Pune Solapur Expressways was completed on October 28 via sole mandated lead arranger and bookrunner IDBI Bank.

The lead provided Rs1.6 billion, while lender Bank of Baroda committed Rs1.3 billion. India Infrastructure Finance and Infrastructure Development Finance contributed Rs1 billion apiece. Canara Bank and Punjab National Bank each took Rs900 million, while Andhra Bank gave Rs800 million. Union Bank of India pledged Rs740 million. Indian Bank and Yes Bank each held Rs500 million and Bank of Maharashtra rounded out the group with Rs400 million.

Proceeds are to support a highway widening project in India.

Indonesia

Bukit Makmar Mandiri Utama (BUMA)'s $285 million four-year term loan was signed on October 29 via bookrunners Barclays and Sumitomo Mitsui Banking Corp.

Final allocations saw Sumitomo Mitsui Banking Corp providing $60 million, while Barclays and joint lead arranger ING Bank each committed $50 million. Deutsche Bank and Macquarie Bank contributed $35 million apiece. Bank of Tokyo-Mitsubishi UFJ and lender Farallon Capital joined with $30 million and $25 million tickets respectively.

The facility was guaranteed by Prime Dig. Proceeds are to refinance an acquisition bridge and for working capital purposes.

Garudafood Putra Putri Jaya TBK has secured a Rp500 billion four-year club fundraising via mandated lead arrangers ANZ Panin Bank, Bank CIMB Niaga TBK, Bank UOB Indonesia and Oversea-Chinese Banking Corp.

Proceeds are for refinancing and capital expenditure purposes.