Syndication of Australian AgriculturalÆs A$391 million dual-tranche fundraising has been completed on a club basis via arrangers ANZ Bank and National Australia Bank.
National Australia Bank committed A$261 million while ANZ Bank contributed A$130 million.
Proceeds are for general corporate purposes.
Downer EDIÆs A$350 million dual-tranche facility has been signed via a syndicate of 10 banks.
The deal is split into a A$260 million four year portion and a A$90 million eight month loan.
Mandated arranger National Australia Bank committed A$117 million. Lenders Bank of China and Oversea-Chinese Banking Corp took A$26 million each while HSBC, Mizuho Bank and United Overseas Bank provided A$27 million apiece. Banco Bilbao Vizcaya Argentaria, BNP Paribas, Westpac Banking Corp and WestLB ended up with A$25 million each.
Proceeds are for general corporate purposes.
Barclays Capital has launched Repco CorporationÆs A$425 million multi-tranche LBO facility. The deal was funded this week.
The facility is split into a senior A$340 million six year portion, with three tranches - a A$90 million amortising loan offering a margin of 225bp over BBSY, a A$180 million bullet facility paying 200bp and a A$70 million working capital facility. The A$85 million six-and-a-half year sub-tranche carries a margin of 600bp.
Arrangers lending A$50 million or above earn a front-end fee of 75bp and co-arrangers receive 55bp for committing between A$35 million and A$49 million.
Proceeds are to support financial sponsor CCMP Capital AsiaÆs leveraged buyout of Repco. Syndication close is targeted for the end of May.
China
Hynix-ST SemiconductorÆs $750 million five year loan is still yet to launch via mandated arrangers China Development Bank and Korea Development Bank.
The borrower has approached around 18 existing lenders, and some are awaiting credit approval.
Syndication launch has yet to be decided. The purpose of the loan is to fund the construction of the second phase of a wafer plant project based in Wuxi.
Hong Kong
Syndication has closed for China Travel Service (Holdings)Æs HK$2 million five year fundraising via mandated arrangers Bank of China and HSBC.
The deal pays a margin of 36bp over Hibor. The signing ceremony is expected to be held next week.
Syndication has been launched for Shui On CentreÆs HK$2.2 billion dual-tranche facility via sole arranger Standard Chartered.
The five year fundraising is split into a HK$900 million portion and a HK$1.3 billion revolver and offers an all-in of 50bp over Hibor.
Shui On Co is the guarantor. Proceeds are to refinance a HK$1.6 billion five year club signed in May 2005.
Banks are scheduled to revert by May 11.
Sole mandated arranger Standard Chartered has launched United Asia FinanceÆs HK$1.7 billion three year term loan into sub-underwriting.
The margin is 70bp over Hibor. Co-ordinating arrangers committing HK$350 million or more receive an underwriting fee of 9bp and a management fee of 36bp for a top level all-in of 85bp over Hibor.
Proceeds are to refinance existing debt. Banks have until May 9 to respond.
India
Air India GroupÆs $699.1 million dual currency pre-delivery payment facility closed syndication on April 30 via mandated lead arrangers ABN AMRO, Bank of India, ICICI Bank, State Bank of India and Sumitomo Mitsui Banking Corp. The deal was funded in December 2006.
Proceeds of the term loan are to support the purchase of aircraft and part of the proceeds will be used to refinance an existing facility signed in February 2006. The amount was downsized from $765 million and a portion of the facility can be drawn in Japanese yen.
Syndication has been launched for Suzlon Energy, AE Rotor and SE Drive TechnikÆs Ç1.57 billion multi-tranche credit via mandated arrangers ABN AMRO, ICICI Bank and State Bank of India.
The facility has been funded by the mandated arrangers.
The deal is split into a Ç375 million term loan, a Ç325 million facility, two Ç300 million portions and a Ç275 million loan.
Banks are expected to revert by the end of May.
Malaysia
CIMB BankÆs $200 million three year loan is oversubscribed and the deadline has been extended at the request of banks.
Bank of Tokyo-Mitsubishi UFJ is leading the deal with BayernLB, Bank of China, NordLB and Natixis who joined in sub-underwriting.
The signing ceremony will be held next week (May 7).
Penerbangan MalaysiaÆs $1 billion dual-tranche facility has been funded and pre-signed by sole mandated arranger Standard Chartered.
The deal is split into a $700 million loan that pays 12bp over Libor and a $300 million portion that offers 17bp.
Proceeds are to refinance an existing deal signed in June 2004.
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