CLP Australia Finance has signed a A$1.6 billion fundraising. A total of 15 banks are participating in the transaction. Proceeds will be used for refinancing.
Mandated arranger National Australia Bank committed A$150 million. Participants are BNP Paribas and Westpac taking A$200 million each, Royal Bank of Scotland providing A$150 million, WestLB contributing A$127.5 million, Commonwealth Bank of Australia and Sumitomo Mitsui Banking Corp pledging A$100 million apiece, Mizuho Corporate Bank lending A$85 million, Bank of Tokyo-Mitsubishi UFJ holding A$80 million, ABN AMRO Bank (Australia) and ABN AMRO Bank (Hong Kong) committing A$75 million apiece, Bank of China lending A$70 million, BayernLB and HSBC providing A$63 million each and Societe Generale ending up with A$62.5 million.
Ridley CorporationÆs A$1.994 billion financing has been signed via mandated arrangers ABN AMRO, Calyon, HSBC, National Australia Bank and WestLB. The lead banks held A$398.8 million apiece. Bilfinger Burger Concessions, Baulderstone Hornibrook and Leighton Contractors are the sponsors. Proceeds are to support the design, construction, operation and maintenance of the North South Bypass Tunnel project in Brisbane.
China
Syndication of Primary Technology (Foshan)Æs $80 million financing has yet to close via sole mandated lead arranger Citigroup. Thus far, the five year facility has been oversubscribed 1.5 times. However, the facility size is unlikely to be increased said a banker close to the deal. The financing carries a spread of 59bp over Libor and proceeds will be used to refinance existing debt. The Taiwanese parent company, Premier Image Technology Corp is providing a guarantee.
Sole mandated lead arranger and bookrunner Citigroup has closed syndication of Silitech Technology (Suzhou)Æs $38 million equivalent facility. The three year deal is two times oversubscribed; however, the facility size is unlikely to be increased. The dual currency facility is split into a $20 million equivalent renminbi tranche that is priced at 90bp over PBOC and an $18 million tranche that carries a spread of 57.5bp over Libor.
The Taiwanese parent company, Silitech Technology Corp is serving as the guarantor. Proceeds will be used to fund capital expenditure and for working capital purposes. Allocations will be finalised shortly and signing is targeted for mid-September.
Hong Kong
Market talk is that Cathay Pacific is sounding banks for a S$600 million aircraft financing. The facility will be used to refinance a $600 million one year facility arranged by SMBC, DZ Bank and Fortis Bank last week.
Hutchison WhampoaÆs HK$9 billion financing has been closed on a club basis via a consortium of 12 banks. The arranger group consists of Bank of China (Hong Kong), Bank of Tokyo-Mitsubishi UFJ, Calyon, DBS Bank, Hang Seng Bank, HSBC, ICBC Asia, Mizuho Corporate Bank, Royal Bank of Scotland, Standard Chartered, SMBC and WestLB.
Proceeds will be used to refinance a HK$12 billion dual tranche facility signed in July 2001, comprising a HK$9 billion five year tranche due in November and a HK$3 billion seven year tranche due in 2008.
Signing is targeted for September 14.
K Wah Stones Holdings has successfully raised HK$1.8 billion from the market via a syndicate of 14 banks. The 3 + year facility has received an overwhelming response from general syndication and was increased from HK$1.5 billion.
Mandated coordinating arrangers Bank of China (Hong Kong) and Hang Seng Bank ended up with HK$250 million each, Standard Chartered (Hong Kong) took HK$200 million and Bank of Communications (Hong Kong) pledged HK$240 million and came in as an equal status coordinating arranger.
Co-arrangers are Wing Lung Bank holding HK$150 million and China Construction Bank (Hong Kong) and Shanghai Commercial Bank committing HK$130 million apiece. Senior Managers include Bank of East Asia and Wing Hang Bank absorbing HK$100 million each while five others û Liu Chong Hing Bank, Maybank (Hong Kong), Mizuho Corporate Bank, Nanyang Commercial Bank and Public Bank (Hong Kong) û came in with holds of HK$50 million apiece.
Proceeds will be used for working capital purposes and signing will take place shortly.
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