Loans March 27-April 2

A roundup of the latest syndicated loan market news.

Hong Kong

XCMG HK International Corp Development has secured a $130 million three-year term loan through sole bookrunner and mandated lead arranger Credit Agricole CIB.

Syndication saw Agricultural Bank of China, BBVA, Bank of China, CTBC Bank, DZ Bank, and Taipei Fubon Commercial Bank join in as mandated lead arrangers while Bank of Taiwan, Commerzbank came in as lead arrangers. Monte dei Paschi and Taiwan Cooperative Bank concluded the syndicate as arrangers.

Proceeds are for refinancing and general corporate purposes.

 

India

Apollo LogiSolutions has completed a Rs710 million three-year term loan through sole bookrunner and mandated lead arranger Yes Bank.

Final allocations saw the lead provide Rs490 million while Tata Capital Financial Services held Rs220 million as a lender.

Proceeds are to refinance existing debt as well as for capital and operating expenditure.

HT Global IT Solutions Holdings has obtained a $250 million five-year term loan through joint mandated lead arrangers Cathay United Bank, Credit Agricole CIB, Deutsche Bank, HSBC, ING, Investec Bank, Nomura, Siemens Financial Services and Standard Chartered Bank on a club basis.

Proceeds are for refinancing purposes.

Power Finance Corp has closed a $450 million six-year-and-five-month term loan through joint bookrunners and mandated lead arrangers Bank of Tokyo-Mitsubishi UFJ, Mizuho and State Bank of India.

Syndication saw SMBC joins in as an arranger.

Proceeds are for general corporate purposes.

 

South Korea

Chungjin Project has arranged a W550 billion five-year term loan through sole bookrunner and mandated lead arranger Korea Development Bank.

Syndication saw Korean Federation of Community Credit Cooperatives and Woori Bank conclude the syndicate as lenders.

Proceeds are for development and construction purposes.

 

Taiwan

Fwu Kuang Enterprises has signed a NT$490 million three-year loan package through sole bookrunner and mandated lead arranger Taishin International Bank.

The financing comprises a NT$127 million term loan, a NT$98 million term loan and a NT$265 million revolving credit facility.

Syndication saw Taiwan Shin Kong Commercial Bank joins in as a mandated lead arranger while Bank of Panhsin, Bank of Taiwan, Chang Hwa Commercial Bank, Land Bank of Taiwan, Taichung Commercial Bank and Taiwan Business Bank came in as lower tiers.

Proceeds are to repay existing indebtedness and for general corporate purposes.

Pan Jit International has sealed a NT$3.9 billion five-year debt package through bookrunners and mandated lead arrangers First Commercial Bank and Taiwan Cooperative Bank.

The facility is split into a NT$1.7 billion term loan and a NT$2.2 billion revolver.

Syndication saw Land Bank of Taiwan and Ta Chong Bank join in as mandated lead arrangers while Chang Hwa Commercial Bank, Mega International Commercial bank, Taishin International Bank and Taiwan Business Bank came in as arrangers. Bank of Taiwan concluded the syndicate as manager.

Proceeds are to repay existing indebtedness and for working capital purposes.

Tex-Ray Industrial has inked a NT$1.4 billion Revolving/Term Credit Facility through joint bookrunners and mandated lead arrangers Bank SinoPac, First Commercial Bank, Industrial Bank of Taiwan, Land Bank of Taiwan, Mega International Commercial Bank and Taiwan Cooperative Bank.

The transaction is priced at 50bp over one-year floating post office saving rate with a pre-tax floor of 180bp.

Final allocations saw Mega International Commercial Bank take NT$175 million while First Commercial Bank, Industrial Bank of Taiwan, Land Bank of Taiwan and Taiwan Cooperative Bank gave NT$150 million apiece. Chang Hwa Commercial Bank contributed NT$125 million as an arranger while Bank SinoPac held NT$120 million. Agricultural Bank of Taiwan, E. Sun commercial Bank and Shanghai Commercial & Savings Bank provided NT$100 million while Taiwan Shin Kong Commercial Bank concluded the syndicate with NT$80 million.

Proceeds are for refinancing purposes.

 

¬ Haymarket Media Limited. All rights reserved.