Samsung Hong KongÆs $100 million loan launched

By borrowing now at more than half of what it paid last year, Samsung Hong Kong is tapping lower cost funding to retire high cost debt.

Mandated arrangers Korea Development Bank, Societe Generale and Bayerische Landesbank launched a $100 million three-year transferable term loan facility for Samsung Hong Kong into general syndication last week. Syndication is slated for close on September 19, while signing is scheduled for September 30. Samsung Corporation is the guarantor for the bullet deal.

The deal, paying a margin of 75bp over Libor, is being marketed on three levels. Banks joining as co-arrangers on the top level with commitments of $10 million or above receive management fees of 45bp all-in of 90bp, while senior managers committing between $7-$9 million receive management fees of 39bp all-in of 88bp. On the lowest level of managers, banks receive...

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