Loan week

A round up of the latest syndicated loan market news.
China

A $600 million five year dual tranche fundraising for Semiconductor Manufacturing International Shanghai Corp has been launched into general syndication and increased from an initial $550 million after an enthusiastic response in sub-underwriting. ABN AMRO Bank, Bank of China Hong Kong, Bank of Communications Xingu, Bank of Tokyo-Mitsubishi UFJ, China Construction Bank Pudong, DBS Bank, Fubon Bank Hong Kong and Shanghai Pudong Development Bank Zhangjiang are the coordinating arrangers and Semiconductor Manufacturing International Corporation is providing a guarantee.

The margin is 110bp over Libor for the first year and linked to a debt to Ebitda grid thereafter. Banks have been invited to join on four levels, where arrangers committing $30...
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