Loan week, September 25-30

Bangladesh

Kazi Grand Parents' $26 million five-year term loan has been signed via sole mandated lead arranger and bookrunner HSBC (Bangladesh).

Bank Asia, BRAC Bank, Commercial Bank of Ceylon, Dhaka Bank, Dutch Bangla Bank, Eastern Bank, ICB Islamic Bank, International Finance Investment & Commerce Bank, Mercantile Bank, Mutual Trust Bank, National Bank, One Bank, Prime Bank, Pubali Bank, Shahjalal Islami Bank, Southeast Bank, The City Bank, Trust Bank and United Commercial Bank joined as lenders.

Proceeds are for general corporate purposes.

China

Pacific Century Premium Developments'  three-year dual currency facility via special purpose vehicles Beijing Jing Wei House & Land Estate Development and Pride Pacific was completed last week.

The debt package was divided into a HK$2.8 billion revolving credit and a Rmb10 million term loan solely provided by Standard Chartered Bank. The tranches are priced at 180bp over Libor and at 100% of the PBOC rate respectively.

Final allocations of the HK$2.8 billion club deal saw DBS contribute HK$800 million, while Standard Chartered Bank gave HK$700 million. Bank of East Asia lent HK$500 million, Bank of Tokyo-Mitsubishi UFJ and Industrial & Commercial Bank of China each provided HK$300 million, and Wing Lung Bank rounded out the group with a HK$200 million ticket.

Proceeds are to fund construction, maintenance and renovation of properties and for general corporate purposes.

Liaoning Zhongwang's Rmb2.0 billion deal was signed on September 25 through sole mandated lead arranger and bookrunner Calyon.

The loan pays a spread of 95% of the PBOC rate.

Final allocations saw the lead provide Rmb200 million, while participant China Postal Savings Bank committed Rmb500 million. Liaoyang City Commercial Bank gave Rmb400 million and China Construction Bank Corp, Oversea-Chinese Banking Corp and Ping An Bank contributed Rmb200 million apiece. Arrangers ANZ and Bank of China each provided Rmb100 million, while Bank of East Asia rounded off the syndicate with Rmb50 million.

Proceeds are to finance the payment of supply contracts. 

India

Adani Power Maharashtra's Rs21.5 billion dual-tranche loan has been inked via sole mandated lead arranger and bookrunner State Bank of India.

The debt package is split into a Rs20.2 billion 13-year term loan priced at 20% of the base rate and a Rs1.35 billion 13.25-year mezzanine debt.

Final allocations saw the bookrunner and participant Power Finance Corp contribute Rs6 billion each, while UCO Bank gave Rs3.1 billion. Rural Electrification Corp took Rs3 billion and IDBI and State Bank of Travancore came in with Rs2.7 billion and Rs750 million respectively.

Proceeds are to fund phase two of a 660MW coal-fired thermal power project in Gondia, Maharashtra.

Arshiya International's Rs3.6 billion transaction was completed last week via sole bookrunner Axis Bank. The loan is guaranteed by Ajay Mittal and Archana Mittal. The margin is 33.33%.

Final allocations saw the lead lend Rs700 million, while participant Dena Bank contributed Rs650 million. UCO Bank and Union Bank of India gave Rs400 million apiece and Andhra Bank lent Rs350 million. Karur Vysya Bank pledged Rs300 million, State Bank of India provided Rs280 million, Bank of India came in with Rs250 million and State Bank of Mysore contributed Rs220 million. 

Proceeds are for project financing purposes.

Dalmia Cement Ventures' Rs31.4 billion multi-tranche loan has been inked via sole mandated lead arranger IDBI Bank.

The 14.5-year debt package comprises a Rs24 billion term loan, a Rs4.9 billion mezzanine debt and a Rs2.5 billion short term loan.

Final allocations saw the bookrunner and participant Punjab National Bank lend Rs4 billion apiece. Corporation Bank gave Rs3 billion, while Indian Bank and United Bank of India held Rs2 billion each. Oriental Bank of Commerce provided Rs1.8 billion and Andhra Bank, Axis Bank, Canara Bank and Union Bank of India took Rs1.5 billion apiece. UCO Bank joined in with Rs1.2 billion, while Bank of Baroda, Bank of India, Indian Overseas Bank and State Bank of Travancore ended up with Rs720 million each. State Bank of Mysore contributed Rs600 million, and Central Bank of India, Punjab & Sind Bank, State Bank of Bikaner & Jaipur, State Bank of Hyderabad and State Bank of Patiala committed Rs500 million apiece. Dena Bank and Karur Vysya Bank gave Rs350 million each, and Federal Bank, Tamilnad Mercantile Bank and Vijaya Bank rounded off the syndicate with Rs250 million apiece.   

Proceeds are to finance the implementation of cement plants in Karnataka and Rajasthan with an aggregate capacity of 10 million tonnes per annum.

Following an overwhelming response from the market, a $450 million five-year syndicated facility for Indian Railways Finance Corp was upsized from the initial $400 million sought. It was completed on September 24 on a club basis via a consortium of seven banks.

Mandated lead arrangers Bank of Tokyo-Mitsubishi UFJ and Sumitomo Mitsui Banking Corp pledged $125 million and $75 million respectively, while ANZ, Deutsche Bank, Mizuho Corporate Bank, Standard Chartered Bank and State Bank of India offered $50 million apiece.

Proceeds are to support the purchase of rolling stock to be leased to Indian Railways (Ministry of Railways).

A Rs6.5 billion 10-year project financing for Jubilant Offshore has been completed via sole bookrunner State Bank of India.

The margin is 25bp over the State Bank Advance Rate, or effectively 12%.

Final allocations saw the mandated lead arranger lend Rs1.9 billion, while participants Bank of India and Punjab National Bank committed Rs1.2 billion and Rs1 billion respectively. Allahabad Bank and United Bank of India contributed Rs700 million apiece, while Bank of Baroda and State Bank of Bikaner & Jaipur joined in with Rs500 million each.

Proceeds are to finance a gas field project located in Krishna-Godavari Basin off the coast of Andhra Pradesh, India.

Japan

A ¥7 billion three-year facility for ACOM was sealed on September 28 through sole mandated lead arranger Calyon. Bank of Communications and Bank of Taiwan participated in lower tiers.

Proceeds are for working capital purposes.

Softbank Corp's ¥39 billion one-year revolving credit has been signed through bookrunners Citibank and Mizuho Corporate Bank, and mandated lead arranger Calyon.

Syndication saw Barclays and Standard Chartered Bank come in as lenders.

Proceeds are for working capital purposes.