RiverCity MotorwayÆs A$1.8 billion financing has been launched via mandated lead arrangers ABN AMRO, Calyon, HSBC, National Australia Bank and WestLB. The facility was fully underwritten in May 2006. Proceeds will be used to support the A$3.254 billion PPP project to develop the North-South Bypass tunnel in Brisbane.
Bangladesh
Sole mandated lead arranger Standard Chartered has yet to close the books for Bangladesh PetroleumÆs $250 million financing. The one year facility saw a strong response in general syndication said bankers in the arranger group. Around 20 banks are said to be in the final stages of processing credit approvals.
China
Syndication of the A$193 million equivalent multi-tranche loan for China National Chemical Corp has been completed. Sole mandated lead arranger Standard Chartered saw 11 banks join in syndication.
Joining as lead arrangers are ANZ Investment Bank, Calyon, Bank of Tokyo-Mitsubishi UFJ, CCB International Finance, Citic Ka Wah Bank, HSH Nordbank, ICBC Asia, NordLB and WestLB. GE Commercial Finance and ICICI Bank came in as arrangers.
Allocations will be finalised shortly and signing is scheduled for the end of August.
Hong Kong
Central Waterfront Property Development is sounding banks for a HK$15 billion project financing. The borrower last visited the market when it raised HK$7 billion via a six year credit. That facility offered 59bp over Hibor and was a special purpose vehicle of Sun Hung Kai Properties, Henderson Land Development, Hong Kong & China Gas and Bank of China Group Investment. BOCI Capital, ABN Amro, Citicorp International, National Australia Bank and Sumitomo Bank led the deal.
The $85 million fundraising for Crown Worldwide Movers has been completed via a syndicate of 11 banks.
Mandated co-ordinating arranger Standard Chartered absorbed $25 million. Arrangers BNP Paribas, Bumiputra Commerce Bank, ICBC Asia and United Overseas Bank lent $8 million each while Fubon Bank (Hong Kong) committed $7 million and joined as an equal status arranger.
Lead managers Citic Ka Wah Bank and First Commercial Bank took $5 million apiece. Bank of Tokyo-Mitsubishi UFJ and China Construction Bank contributed $4 million each and Bank of East Asia came in with a hold of $3 million.
Proceeds will be used to finance the acquisition of the British and Irish Business Services Division of SIRVA. Signing will take place shortly.
The $70 million five year term loan for Xinhua Finance has been provided on a club basis. ABN AMRO lent $40 million, GE Capital held $20 million and Mizuho Corporate Bank took $10 million. The margin is 275bp over Libor and proceeds are for working capital and acquisition purposes.
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