The A$1.445 billion fundraising for Brambles Industries saw 10 banks join in senior syndication. Joining as sub-underwriters are BNP Paribas, Calyon, Commonwealth Bank of Australia, GE, Hypovereinsbank, Mizuho Corporate Bank, National Australia Bank, Royal Bank of Scotland, SG and Westpac Banking Corp.
The six year facility comprises an A$1.004 billion term portion, an A$130 million revolver and an A$275 million capital expenditure tranche. Proceeds will be used to support the A$1.8 billion Kohlberg Kravis Roberts led leveraged buyout of Brambles IndustriesÆ subsidiaries Cleanaway Australia and New Zealand and Industrial Service Australia.
ANZ Investment Bank, Citigroup, Credit Suisse, HBOS and UBS are the mandated lead arrangers. Brambles Industries is borrowing through special purpose vehicle Rubus Intermediate One. A wider general syndication will follow shortly.
MyerÆs A$995 million financing has been closed via mandated lead arrangers Credit Suisse, Goldman Sachs JB Were and National Australia Bank. A total of 13 banks are participating in the deal.
Lenders include Allied Irish Bank, Aozoro Bank, BayernLB, Chinatrust Commercial Bank, Citic Ka Wah Bank, Group Credit Mutuel, Oversea-Chinese Banking Corp, ICBC (Asia), St George Bank and United Overseas Bank.
Proceeds will be used to support the A$1.4 billion Newbridge and Texas Pacific led leveraged buyout of the Myer department store chain. Signing is scheduled for next week.
Rumor has it that Credit Suisse has been mandated to arrange an A$430 million takeover bid for footwear and clothing retailer Colorado Group.
Bangladesh
Sole mandated lead arranger Standard Chartered has launched Bangladesh PetroleumÆs $250 million facility into general syndication. The one year loan is fully guaranteed by the Central Bank of Bangladesh. Proceeds will be used for working capital purposes. A roadshow will be held in Dubai next Monday (August 14). Banks have until end of August to revert.
China
Market talk is that Air China, the countryÆs largest international carrier, is aiming to raise as much as $1 billion renminbi equivalent aircraft financing. The borrower last tapped the market when it raised $48 million in May 2006 via an eight year term loan. That facility was arranged by Calyon, Group Credit Mutuel and NordLB.
Sole mandated lead arranger BNP Paribas (Shanghai) has launched Nanjing Walsin Metal and Dongguan Walsin Wire & CableÆs Rmb800 million equivalent revolving credit into general syndication.
The two year facility comprises an Rmb560 million tranche that will be borrowed by Nanjing Walsin Metal and the remaining $30 million reminbi equivalent portion will be borrowed by both Nanjing Walson Metal and Dongguan Walsin Wire & Cable. Proceeds will be used for working capital purposes.
The borrowersÆ Taiwanese parent company, Walsin Lihwa Corp, is providing a guarantee. Financial close is scheduled on September 8.
Hong Kong
China Special Steel HoldingsÆ $30 million is syndicating via sole mandated lead arranger Citic Ka Wah Bank. Around 10 banks are said to be in the final stage of gaining approvals. The three year facility is priced at 155bp over Libor, translating to a top level all-in of 173.3bp over Libor. Banks have until August 18 to respond.
Joint mandated lead arrangers Citic Ka Wah Bank and UOB Asia have completed the fundraising for Huafeng Textile International GroupÆs HK$250 million. The five year facility saw four banks join in general syndication.
Mandated lead arrangers lent HK$65 million apiece while four other arrangers û DBS Bank (Guangzhou), Industrial & Commercial International Capital, Cathay United Bank and Bangkok Bank û came in with holds of HK$30 million each.
Signing will take place shortly.
Allocations for Link REITÆs HK$5 billion financing have been finalised via mandated lead arrangers Bank of China (Hong Kong), Bank of Tokyo-Mitsubishi UFJ, BNP Paribas (Hong Kong), Calyon, DBS Bank, HSBC and Standard Chartered (Hong Kong). The five year revolving credit has been scaled back from HK$5.6 billion.
Mandated lead arrangers ended up with HK$650 million apiece. Senior manager Industrial and Commercial Bank of China (Asia) provided HK$200 million while Bank of China (Macau) and Tai Fung Bank took HK$150 million and HK$100 million respectively.
Proceeds will be used to refinance an existing facility signed in November 2005. Signing was held on last Friday (August 4).
Signing for Swire PacificÆs HK$3.5 billion facility took place on Monday (August 7) in Hong Kong via an eight bank syndicate. The five year facility has been upsized from HK$3 billion due to a resounding response in general syndication. It offers a spread of 20bp over Hibor and proceeds will be used for general corporate purposes.
Mandated coordinating arrangers are Standard Chartered holding HK$600 million, DBS Bank and Fortis Bank taking HK$575 million each, Westpac Banking Corp lending HK$450 million while ING Bank and SMBC are providing HK$400 million apiece. Two other lenders are Bank of China (Tokyo) and BBVA contributing HK$300 million and HK$200 million respectively.
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