Hong Kong
Far Eastern Hong Xin's $162 million three-year term loan has been signed via sole bookrunner Sumitomo Mitsui Banking Corp, Bank of East Asia, China Development Bank, Commonwealth Bank of Australia and Wing Lung Bank joined as mandated lead arrangers. The deal was upsized from $100 million.
Dah Sing Bank was the lead arranger while Cathay Bank, KBC Bank, and Shanghai Pudong Development Bank came in as arrangers.
Proceeds are to finance the acquisition of leasing assets and related capital outlays.
India
3i Infotech Financial Software's $105 million dual-tranche term loan was been completed via sole bookrunner AXIS Bank.
The package comprises a $50 million four-year tranche and a $55 million six-year portion. The facility offers a margin of 360bp and 475bp over Libor respectively.
Syndication saw AfrAsia Bank, DBS, PNB International Finance, State Bank of Mauritius, Syndicate Bank and State Bank of India joining as participants.
Proceeds are to refinance existing indebtedness.
Greatship (India) has secured a $25 million 9.25-year term loan via sole bookrunner AXIS Bank.
The facility features a margin of 350bp over Libor and a 2.25 year grace period.
The facility saw AXIS Bank commit $5 million. Mandated lead arrangers State Bank of India (Mauritius) gave $15 million while Bank of India provided $5 million.
Proceeds are to provide for capital expenditure requirements.
A $79 million six year term loan for Mercator Offshore (Nigeria) has been signed via sole bookrunner AXIS Bank.
Guaranteed by Mercator Lines, the term loan offers a margin of 335bp over Libor and a one year grace period.
Final allocations saw AXIS Bank give $20 million. Participants Bank of India contributed $23 million while DBS Bank lent $20 million. Bank of Baroda provided $16 million.
Proceeds are for capital expenditure.
Utkal Alumina International's Rs49.0 billion 11 year, six-month term loan was completed last Wednesday (July 28) via bookrunners and mandated lead arrangers IDBI Bank, Royal Bank of Scotland and SBI Capital Markets.
The loan features a margin of 350bp over State Bank of India's Base Rate and will be repaid via 42 quarterly instalments.
Allahabad Bank, Andhra Bank, AXIS Bank, Bank of Baroda, Bank of India, Canara Bank, Corporation Bank, Dena Bank, Dhanlaxmi Bank, Export-Import Bank of India, HDFC Bank, Indian Overseas Bank, IndusInd Bank, Jammu & Kashmir Bank, Oriental Bank of Commerce, Punjab National Bank, State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of India, State Bank of Mysore, State Bank of Patiala, Syndicate Bank, UCO Bank, United Bank of India, Vijaya Bank and Yes Bank joined as participants.
Proceeds are for project finance purposes.
New Zealand
A NZ$220 million three year revolver for Matariki Forests has been inked as a club deal via a consortium of four mandated lead arrangers.
Bank of New Zealand provided NZ$74 million, Commonwealth Bank of Australia and Rabobank gave NZ$51 million each and HSBC lent NZ$44 million.
Proceeds are for general corporate purposes.
South Korea
Lotte Properties (Shenyang)'s $105 million three-year term loan is still in the market via sole bookrunner and mandated lead arranger Korea Development Bank.
The debt package is guaranteed by Hotel Lotte and pays a spread of 190bp over Libor. Co-arrangers committing $10 million or more receive 45bp.
Proceeds are for working capital purposes. Signing is slated for the end of August.
A $500 million three year offshore loan-style floating rate note for Korea National Oil has been signed via ANZ, DBS Bank, HSBC, Mizuho Corporate Bank, Natixis, and Standard Chartered Bank.
Final allocations saw ANZ and DBS contribute $84 million each while HSBC, Mizuho Corporate Bank, Natixis, and Standard Chartered Bank pledged $83 million apiece.
Proceeds are to refinance offshore investments and for general working capital purposes.
Taiwan
A NT$6.5 billion five-year debt package for Gintech Energy Corp was signed on Monday (August 2) via joint bookrunners Bank of Taiwan, Chang Hwa Commercial Bank, E.Sun Commercial Bank, First Commercial Bank, Land Bank of Taiwan, Mega International Commercial Bank and Taiwan Cooperative Bank.
The package comprises a NT$3.4 billion term loan and a NT$3.1 billion revolver, which are priced at 60bp and 65bp over the secondary CP rate respectively.
Agricultural Bank of Taiwan, Cathay United Bank, Hua Nan Commercial Bank and Shanghai Commercial & Savings Bank joined in as participants.
Proceeds are for capital expenditure and working capital purposes.
Hamagawa Holdings, a subsidiary of Bin Chuan Enterprise, successfully secured a $25 million five-year term loan last week via mandated lead arrangers Bank Sinopac, Chinatrust Commercial Bank, E.Sun Commercial Bank, Mega International Commercial Bank and Taishin International Bank. The deal was oversubscribed and upsized from $20 million.
The loan features a spread of 70bp to 80bp over Libor based on the borrower's net profit margin before tax.
Syndication saw Chang Hwa Commercial Bank, China Development Industrial Bank, Hua Nan Commercial Bank, Taipei Fubon Commercial Bank and Yuanta Commercial Bank coming in at lower tiers.
Proceeds are for refinancing existing indebtedness, capital expenditure and working capital purposes.
Highwealth Construction's NT$4.0 billion four-year term loan was completed last week via mandated lead arrangers Hua Nan Commercial Bank and Taiwan Cooperative Bank.
The term loan is split into three tranches of NT$1.9 billion, NT$1.9 billion and NT$250 million which are priced between 90bp and 105bp above the one-year floating post office savings rate.
Final allocations saw agent bank Taiwan Cooperative Bank taking NT$800 million while Agricultural Bank of Taiwan and Hua Nan Commercial Bank committed NT$700 million each. DBS Bank lent NT$600 million while Bank of Kaohsiung, Bank of Panhsin, Far Eastern International Bank, Jih Sun International Bank, Taichung Commercial Bank and Yuanta Commercial Bank pledged NT$200 million each.
Proceeds are for a construction project.
A NT$1.2 billion fundraising for Rong Sheng Machine Engineering has been sealed via bookrunners Chang Hwa Commercial Bank, E.Sun Commercial Bank, First Commercial Bank and Taiwan Cooperative Bank.
The debt consists of a NT$900 million seven-year term loan and a NT$300 million five year revolving credit which are priced at 100bp over the one-year post office savings rate.
Final allocations saw the bookrunners holding NT$240 million each while participants Bank of Taiwan and Agricultural Bank of Taiwan took NT$150 million and NT$90 million respectively.
Proceeds are for capital expenditure and working capital purposes.
STL Technology's $50 million three-year dual-currency revolver was signed on Monday (August 2) via mandated lead arrangers Hua Nan Commercial Bank, Taipei Fubon Commercial Bank and Taishin International Bank.
The bullet facility features a spread of 60bp over Libor and the secondary CP rate when drawn in US$ and NT$ respectively. There is also a two year extension option.
The mandated leads gave $13 million apiece while managers Bank of Taiwan, Chang Hwa Commercial Bank and Yuanta Commercial bank took $4 million each.
Proceeds are for refinancing existing indebtedness and working capital purposes.
Thailand
Thai Union Frozen Products' Bt15.0 billion dual tranche credit facility was signed last Tuesday (July 27) via Bangkok Bank, Kasikornbank and Siam Commercial Bank.
The facility comprises a Bt6.0 billion six-0year tranche with a two year grace period and a Bt9.0 billion eight year portion with an eight year grace period.
The leads committed Bt4.5 billion each while Krung Thai Bank gave Bt1.5 billion.
Proceeds are to support the acquisition of MW Brand Holdings.
Vietnam
A $540m five-year term loan for Vietnam Posts & Telecommunications Group has been completed via bookrunners BNP Paribas and Natixis.
The loan is priced at 280bp over Libor.
Bangkok Bank, Bank of China, Chinatrust Commercial Bank, DBS Bank, First Commercial Bank and Maybank joined in as mandated lead arrangers while Bank of Taiwan, Bank Sinopac, Cathay United Bank, Hua Nan Commercial Bank, Mega International Commercial Bank and United Overseas Bank came in as lead arrangers. Chang Hwa Commercial Bank, Industrial Bank of Taiwan, Intesa Sanpaolo, Land Bank of Taiwan, Mizuho Corporate Bank, Taipei Fubon Commercial Bank, Taishin International Bank, Taiwan Business Bank and Taiwan Cooperative Bank contributed as arrangers while Bank of Kaohsiung and Bank of Tokyo-Mitsubishi UFJ ended up as participants.
Proceeds are to provide for capital expenditure requirements.
