Loan week, September 24-29

China

Dongfeng Nissan Auto Finance’s Rmb1.5 billion multi-tranche financing was inked on September 29 via sole bookrunner Standard Chartered Bank (China).

The three-year deal is split into an Rmb850 million revolving credit, a Rmb200 million term loan and a Rmb400 million tranche. The first two tranches are priced at 83% of the PBOC rate, while the latter portion is priced at 83.5% of the PBOC rate.

Syndication saw mandated lead arrangers China Citic Bank (Shanghai) give Rmb500 million and Standard Chartered Bank (China) take Rmb400 million. China Merchants Bank (Shanghai) contributed Rmb300 million, while Mizuho Corporate Bank (China) lent Rmb200 million. First Sino Bank came in as a participant with Rmb50 million.

Proceeds are for working capital purposes.

India

A Rs900 million 13-year term loan for Kalyan Infratech was signed last week via sole bookrunner and mandated lead arranger IDBI Bank.

Final allocations saw the lead take Rs500 million, while participants Bank of India and State Bank of Bikaner & Jaipur gave Rs200 million each.

Proceeds are to support a highway construction project in India.

Prayagraj Power Generation’s Rs80.1 billion 14.25-year term loan was signed on September 28 via sole bookrunner SBI Capital Markets.

Syndication saw Andhra Bank, Bank of Baroda, Bank of India, Canara Bank, Corporation Bank, IDBI Bank, Indian Bank, Indian Overseas Bank, L&T Finance, L&T Infrastructure Finance, Life Insurance Corp of India, Orient Bank of Commerce, Punjab National Bank, UCO Bank and United Bank of India join in as participants.

Proceeds are to support the 1,980MW coal-based thermal power plant at Bara, Allahabad,  India.

Surana Power’s Rs18.0 billion 15-year term loan was completed on September 24 via sole bookrunner and mandated lead arranger IDBI Bank.

Sponsored by Surana Industries, the facility will be repaid in 44 quarterly instalments.

Syndication saw the bookrunner provide Rs3.6 billion, while participant Punjab National Bank pledged Rs2.7 billion. L&T Infrastructure Finance, UCO Bank and Dena Bank contributed Rs2.5 billion, Rs2.3 billion and Rs2.0 billion respectively. State Bank of Patiala gave Rs1.5 billion, while Life Insurance Corporation of India and PTC India Financial Services took Rs1.2 billion apiece. Allahabad Bank came in with Rs1.0 billion.

Proceeds are to set up a 420MW coal-based thermal power plant in Raichur, Karnataka, India.

Japan

Acom’s ¥6.0 billion two-year term loan was signed on September 24 via sole bookrunner Credit Agricole.

Credit Agricole and mandated lead arranger Natixis committed ¥2.0 billion each, while ANZ and Union de Banques Arabes et Francaises (UBAF) contributed ¥1.0 billion apiece.

Proceeds are for working capital purposes.

Malaysia

IOI Corp’s $600 million seven-year term loan was signed on September 28 via sole bookrunner Bank of Tokyo-Mitsubishi UFJ (Labuan).

The club-style transaction saw the sole bookrunner contribute $300 million, while mandated lead arrangers Oversea-Chinese Banking Corp and HSBC (Labuan) gave $200 million and 100 million respectively.

Proceeds are for general corporate purposes.

Taiwan

Advanced Connectek’s NT$1.0 billion dual-tranche facility was signed last week via bookrunners and mandated lead arrangers Hua Nan Commercial Bank and Industrial Bank of Taiwan.

The five-year financing is split into a NT$1.0 billion term loan and a NT$300 million note issuance facility. However, the total outstanding amount cannot exceed NT$1.0 billion.

Final allocations saw the leads take NT$150 million each, while co-arranger Chang Hwa Commercial Bank joined in with NT$130 million. DBS Bank, Taishin International Bank and Taiwan Cooperative Bank lent $80 million apiece, while Agricultural Bank of Taiwan, Land Bank of Taiwan, Mega International Commercial Bank and Shanghai Commercial & Savings Bank came in with NT$70 million each. Bank of East Asia ended up with NT$50 million.

Proceeds are to refinance an existing NT$1.0 billion facility signed in November 2007 and for working capital purposes.

Solartech Energy Corp’s NT$2.3 billion five-year debt package has been signed via mandated leads First Commercial Bank, Mega International Commercial Bank and Taiwan Cooperative Bank.

The facility is split into a NT1.3 billion tranche and a NT$1.0 billion portion, which are priced at 85bp over the 90-day secondary CP rate.

Bank of Taiwan, Cathay United Bank, Chang Hwa Commercial Bank, Export-Import Bank of Taiwan, Hua Nan Commercial Bank, Taishin International Bank, Taiwan Business Bank and Yuanta Commercial Bank joined in at lower tiers.

Proceeds are for equipment purchasing and working capital purposes.

A NT$1.2 billion five-year revolver for Tex-Ray Industrial has been inked via joint bookrunners Industrial Bank of Taiwan, Land Bank of Taiwan, Mega International Commercial Bank, Shanghai Commercial & Savings Bank and Taiwan Cooperative Bank.

The revolving credit features a margin of 41.5bp over the one-year post office savings rate.

Final allocations saw Industrial Bank of Taiwan, Mega International Commercial Bank and Taiwan Cooperative Bank commit NT$150 million apiece, while Land Bank of Taiwan took NT$130 million.  Shanghai Commercial & Savings Bank and Agricultural Bank of Taiwan contributed NT$110 million each, while E Sun Commercial Bank, Hua Nan Commercial Bank, Shin Kong Commercial Bank, Taishin International Bank and Taiwan Business Bank lent NT$80 million apiece.

Proceeds are for the refinancing of existing indebtedness and for working capital purposes.

Ubilux Optoelectronics Corp secured a NT$1.2 billion fundraising last week via lead arrangers Chang Hwa Commercial Bank, Entie Commercial Bank, First Commercial Bank, Land Bank of Taiwan and Mega International Commercial Bank.

Secured by building and machinery, the deal comprises NT$200 million and NT$800 million term loans and a NT$200 million revolving credit, which offer 125bp over the one-year post office savings rate.

Syndication saw Bank of Panhsin, Taichung Commercial Bank and Taiwan Cooperative Bank participate in the deal at lower tiers.

Proceeds are for refinancing, capital expenditure and working capital purposes.

A NT$6.5 billion five-year revolver for Yageo Corp was completed last week via a consortium of nine bookrunners and mandated lead arrangers. The deal was oversubscribed and upsized from NT$5.0 billion.

Secured by land, building and machinery, the revolver offers a commitment fee of 10bp.

Final allocations saw bookrunners Hua Nan Commercial Bank take NT$1.2 billion and Industrial Bank of Taiwan and Taiwan Cooperative Bank lend $650 million apiece. Chang Hwa Commercial Bank, Land Bank of Taiwan, Mega International Commercial Bank and Taipei Fubon Commercial Bank gave NT$625 million each, while China Development Bank and DBS Bank pledged NT$500 million each. Participants Shanghai Commercial & Savings Bank joined in with NT$300 million and Bank of Taiwan held NT$200 million.

Proceeds are for refinancing and working capital purposes.

Thailand

PTT Aromatics & Refining’s $200 million dual-tranche fundraising was sealed in mid-September via bookrunners and mandated lead arrangers Bank of Tokyo-Mitsubishi UFJ, Mizuho Corporate Bank and Sumitomo Mitsui Banking Corp.

The five-year financing comprises an $80 million term loan and a $120 million revolving credit.

Syndication saw Oversea-Chinese Banking Corp come in as a mandated lead arranger.

Proceeds are for general corporate purposes.

SMFL Leasing (Thailand)’s ¥3.6 billion three-year term loan was signed last week via sole bookrunner Credit Agricole, while ING Bank joined in as a mandated lead arranger.

Proceeds are for general corporate purposes.