Loans week August 21-27

A roundup of the latest syndicated loan market news.

The third largest Telecoms sector facility signed in Asia Pacific in 2015 year-to-date

SoftBank Group has signed a ¥174.2 billion ($1.5 billion) one-year revolver through joint bookrunners and mandated lead arrangers Citibank, Credit Agricole and Mizuho Bank. The fundraising comprises of a ¥123.1 billion credit and a ¥51.1 billion tranche. 

Syndication saw BNP Paribas, Bank of America and Barclays Bank join as mandated lead arrangers. Proceeds are for working capital purposes.

The deal is the third largest telecoms sector loan signed in Asia Pacific so far this year, behind China Network Systems’ $1.5 billion facility and Huawei’s $1.5 billion term loan and brings the regional volume for the sector to $13.6 billion in 2015 year-to-date, down 35% year-on-year.

The largest Oil and Gas facility signed in Australia in 2015 YTD

Woodside Finance has signed a $1 billion revolving credit through joint bookrunners and mandated lead arrangers Bank of Tokyo-Mitsubishi UFJ, Commonwealth Bank of Australia and Westpac. The facility is equally split into a $500 million three-year tranche and a $500 million five-year portion.

Syndication saw ABN Amro Bank, BNP Paribas, Bank of China, Bank of Nova Scotia, Credit Agricole CIB, DBS, DNB, EDC, ICBC, Mizuho Bank, RBC and SMBC come in as mandated lead arrangers while ANZ, Agricultural Bank of China, Chiba Bank, CCB, Credit Industrial et Commercial, HSBC, Hua Nan Commercial Bank, ING Bank, Mega International Commercial Bank, Shinsei Bank, Sumitomo Mitsui Trust Bank and UOB joined in as participants. Proceeds are to repay existing indebtedness.

The deal marks the largest oil and gas facility signed in Australia so far this year and brings Australian loan volume to $48.4 billion in 2015 year-to-date, the lowest year-to-date level since 2012 ($45.6 billion) and down 46% on 2014 year-to-date ($89.9 billion).

 

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