Australia
Murray Goulburn’s A$270 million dual-tranche revolver was signed last Friday (September 2) through joint bookrunners and mandated lead arrangers National Australia Bank and Westpac.
The facility consists of a A$150 million one-year tranche and a A$120 million three-year portion.
Syndication saw ANZ, Bank of Tokyo-Mitsubishi UFJ, BNP Paribas and Commonwealth Bank of Australia join in at lower levels.
Proceeds are to refinance existing indebtedness.
Hong Kong
Leo Paper Bags Manufacturing (1982) has obtained a HK$130 million three-year term loan through sole bookrunner and mandated lead arranger Mizuho Corporate Bank.
Final allocations saw the lead take HK$80 million while participant China Construction Bank (Asia) lent HK$50 million.
Proceeds are for general corporate purposes.
India
Jaigad Power Transco’s Rs4.2 billion 9.5-year term loan was inked last Monday (August 29) through sole bookrunner and mandated lead arranger SBI Capital Markets.
Final allocations saw participants State Bank of India provide Rs2.1 billion while Punjab National Bank and Indian Overseas Bank lent Rs1.3 billion and Rs750 million respectively.
Proceeds are to refinance an existing project signed in 2009.
A Rs9.1 billion 10-year term loan for Jaypee Cement was signed this Monday (September 5) through sole bookrunner and mandated lead arranger AXIS Bank.
Sponsored by Jaiprakash Associates, the facility will be repaid in 24 quarterly instalments after a four-year grace period.
Syndication saw Andhra Bank, Bank of Baroda, Indian Bank, Jammu & Kashmir Bank, Punjab National Bank, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala, State Bank of Travancore and Vijaya Bank join in as participants.
Proceeds are to support the construction of an integrated cement plant.
Supreme Pavel Indapur Tollways successfully completed a Rs9 billion 14-year nine-month term loan last Tuesday (August 30) through sole bookrunner and mandated lead arranger SBI Capital Markets.
Final allocations saw participant State Bank of India pledge Rs2.1 billion while Canara Bank, India Infrastructure Finance Co (IIFCL) and Union Bank of India committed Rs1.4 billion each. State Bank of Patiala and Corporation Bank lent Rs1 billion and Rs950 million respectively while L&T Infrastructure Finance rounded up the syndicate with Rs750 million.
Proceeds are to support the construction of a highway project.
Indonesia
Indomobil Finance Indonesia has secured a $75 million dual-tranche financing through bookrunners Bank Mandiri and Chinatrust Commercial Bank.
The three-year fundraising comprises two term loans of $20 million and $55 million each. The first tranche is priced at 255bp over Libor and the second tranche offers a margin of 280bp over Libor.
Syndication saw Bank Negara Indonesia, Mega International Commercial Bank and Taiwan Cooperative Bank join in as mandated lead arrangers while Bank of China came in as a lead arranger.
Proceeds are for capital expenditure purposes.
Tri Wahana Universal has obtained a $92 million facility on a club basis through mandated lead arrangers Bank Negara Indonesia, Bank of Tokyo-Mitsubishi UFJ, HSBC and United Overseas Bank.
Guaranteed by Saratoga Investama Sedaya, the secured debt package comprises a $16 million five-year revolver, a $43 million five-year term loan and a $33 million seven-year term loan.
Proceeds are for refinancing and capital expenditure purposes.
Japan
Softbank Corp signed a ¥180 billion one-year revolver last Friday (September 2) through a group of 13 local and international banks.
The deal consists of a ¥112.7 billion domestic tranche solely led by Mizuho Corporate Bank and a ¥67.3 billion portion syndicated to international banks. Citibank and Mizuho Corporate Bank were the bookrunners in the second tranche while Bank of America, Barclays, BNP Paribas and Credit Agricole joined in as mandated lead arrangers.
Proceeds are for working capital purposes.
Malaysia
Airport Cooling Energy Supply’s MYR310 million 11 year 4 month Islamic project financing has been signed as a club through mandated lead arrangers Bank Muamalat Malaysia and CIMB.
The deal is sponsored by TNB Engineering Corp and Malaysia Airports Holdings.
Proceeds are to part finance the development of generation plant for the supply of chilled water and electricity and associated works at the new Low Cost Carrier Terminal in Malaysia.
New Zealand
A NZ$258 million multi-tranche facility for Matariki Forests was signed last Thursday (September 1) through sole bookrunner Bank of New Zealand.
The revolver is split into NZ$160 million, NZ$75 million and NZ$23 million tranches maturing in three-year, five-year and one-year respectively. The loan can be withdrawn in NZ$ and US$.
Final allocations saw the lead provide NZ$88 million while Commonwealth Bank of Australia and HSBC took NZ$60 million each. Westpac ended up with NZ$50 million.
Proceeds are to refinance a NZ$220 million transaction signed in July 2010.
Ravensdown Fertiliser Cooperative has sealed a NZ$440 million multi-tranche facility through sole bookrunner and mandated lead arranger Bank of New Zealand.
The debt package consist of NZ$40 million one-year, NZ$80 million one-year, NZ$160 million three-year and NZ$160 million four-year revolvers. The loan is available in NZ$ and US$.
Final allocations saw the lead commit NZ$104 million while Rabobank gave NZ$99 million. ANZ, Commonwealth Bank of Australia and Westpac provided NZ$79 million each.
Proceeds are to refinance a NZ$200 million deal signed in August 2010.
Singapore
Stemcor (SEA)’s $150 million fundraising was launched into syndication last Friday (September 2) through mandated lead arrangers and bookrunners A BILLION AMRO Bank, BNP Paribas, DBS, HSBC, ING, Societe Generale, Standard Chartered and United Overseas Bank.
The facility is a 364-day revolving credit and is guaranteed by Stemcor Holdings.
Rabobank International, OCBC and Raiffeisen Bank International have also joined in as mandated lead arrangers.
Proceeds are to refinance an existing $115 million facility signed in October 2010 and to finance working capital and general corporate requirements. Banks have until September 23 to revert.
Taiwan
Banco Latinoamericano de Comercio Exterior’s $165 million cross-border syndicated refinancing has been closed through sole bookrunner and coordinator Mizuho Corporate Bank.
BBVA (Tokyo), Chang Hwa Commercial Bank and First Commercial Bank joined in as mandated lead arrangers while Bank of Taiwan (Offshore Banking) and Export-Import Bank of the Republic of China participated as arrangers. Land Bank of Taiwan (Offshore Banking), Hua Nan Commercial Bank (Offshore Banking) and Mega International Commercial Bank (Offshore Banking) came in as senior managers.
Proceeds are to refinance two existing facilities signed in August and November 2009.
C Sun MFG obtained a NT$1 billion dual-tranche fundraising on Monday (September 5) through sole bookrunner Industrial Bank of Taiwan.
The five-year fundraising comprises a NT$300 million term loan and a NT$700 million revolver priced at 90bp over the secondary CP rate.
Final allocations saw the sole lead take NT$100 million while mandated lead arrangers Agricultural Bank of Taiwan, Bank of Taiwan, Hua Nan Commercial Bank, Jih Sun International Bank, Taishin International Bank and Taiwan Cooperative Bank committed NT$93 million each. E.Sun Commercial Bank lent NT$92 million while participants Bank Sinopac, Chang Hwa Commercial Bank, Shanghai Commercial & Savings Bank, Ta Chong Bank and Taiwan Business Bank ended up with NT$50 million each.
Proceeds are for refinancing and working capital purposes.
Long Bon International’s NT$1.2 billion bullet facility was completed on Tuesday (September 6) through sole bookrunner Chang Hwa Commercial Bank.
The five-year dual-tranche is split into a NT$1 billion revolver and a NT$200 million CP guarantee facility which are priced at 85bp and 75bp over the secondary CP rate respectively.
In tranche one, Cathay United Bank, Mega International Commercial Bank and Taiwan Cooperative Bank came in as mandated lead arrangers while First Commercial Bank joined in as a lead manager. Hua Nan Commercial Bank, Taipei Fubon Commercial Bank and Taiwan Business Bank participated at lower tiers.
China Bills Finance Corp, International Bills Finance Corp, Mega Bills Financial Corp and Taiwan Finance Corp contributed to tranche two.
Proceeds are for debt repayment and working capital purposes.
Suyin Corp’s NT$1.2 billion loan was signed in late August through sole bookrunner Taipei Fubon Commercial Bank.
The debt package is split equally two three-year revolvers of NT$600 million each with margins ranging from 80bp to 95bp over the secondary CP rate and a minimum interest rate of 1.5%.
Final allocations saw the lead take NT$180 million while mandated lead arrangers Taishin International Bank and Taiwan Cooperative Bank came in with NT$160 million each. Participants Bank Sinopac, Chang Hwa Commercial Bank, E.Sun Commercial Bank, First Commercial Bank, Hua Nan Commercial Bank, Shanghai Commercial & Savings Bank and Taiwan Business Bank ended up with NT$100 million each.
Proceeds are for refinancing and working capital purposes.
Sole bookrunner Taiwan Cooperative Bank has completed a NT$3.6 billion financing for Yieh Phui Enterprise.
Guaranteed by the chairman, the five-year term loan is priced at 110bp over the 90-day secondary CP rate and will be repaid in quarterly installments with a grace period of 21 months.
Syndication saw First Commercial Bank, Hua Nan Commercial Bank, Land Bank of Taiwan, Mega International Commercial Bank and Taishin International Bank join in as mandated lead arrangers while Bank of East Asia, Chang Hwa Commercial Bank, Chinatrust Commercial Bank, Industrial Bank of Taiwan, Shanghai Commercial & Savings Bank and Ta Chong Bank came in as participants.
Proceeds are for working capital purposes.
Thailand
A Bt49 billion multi-tranche 10-year facility for True Corp’s subsidiaries BFKT (Thailand) and Real Future was signed on Monday (September 6) through sole bookrunner Siam Commercial Bank.
The loan package comprises a Bt18 billion term loan, a Bt2.5 billion revolver, a Bt27 billion term loan and a Bt1.4 billion revolver. The term loan facilities will be repaid in 28 quarterly instalments after a three-year grace period while the revolvers have bullet repayment.
Syndication saw Krung Thai Bank come in as a mandated lead arranger while Export-Import Bank of Thailand and United Overseas Bank (Thailand) joined in as participants.
Proceeds are for general corporate and working capital purposes as well as to refinance bond and other related investments.
