A A$1.43 billion three-year bullet debt package for ABC Learning Centres has been completed via a syndicate of eight banks.
The loan comprises a A$1.31 billion credit and two A$60 million portions, of which one is solely funded by Westpac Banking Corp and the other is a letter of credit jointly provided by Commonwealth Bank of Australia and Westpac Banking Corp.
Final allocations saw leads Westpac committing A$300 million while Commonwealth Bank of Australia contributed A$280 million. ANZ took A$250 million while National Australia Bank lent A$200 million. Co-arranger Mizuho Corporate Bank held A$150 million.
Senior lead manager BankWest provided A$100 million while lead managers Bank of America and Citi ended up with A$75 million each.
ING Industrial FundÆs A$1.46 billion multi-currency three-year fundraising was signed on December 6 via mandated lead arrangers ANZ, Deutsche Bank and JP Morgan. The fundraising was increased from A$1.25 billion following an enthusiastic market response.
Proceeds are to refinance existing debt and for general corporate purposes.
Mandated leads ANZ, Commonwealth Bank of Australia, National Australia Bank, Mizuho Corporate Bank and Sumitomo Mitsui Banking Corp are funding a A$2.35 billion multi-tranche financing today (December 14) for Transpacific Industries Group.
The deal comprises a A$1.4 billion three-year bullet, a A$550 million one-year revolver and a A$400 million one-year portion.
Bookrunners ANZ, Commonwealth Bank of Australia and National Australia Bank have underwritten A$522.22 million apiece while Mizuho Corporate Bank and Sumitomo Mitsui Banking Corp are holding on to A$391.68 million each.
General syndication is slated to launch in late January or early February.
Proceeds are to refinance a A$2.75 billion multi-tranche bridge facility that was signed in May 2007. The borrower is raising a subordinated convertible note for A$315 million, a A$168 million USPP and a A$2.35 billion loan to refinance the bridge.
China
Syndication is still ongoing for Huawei-3Com HoldingsÆ $800 million dual tranche LBO financing via mandated leads ABN AMRO, Bank of China, Citi, HSBC and UBS. Aozora Bank, Bank of Nova Scotia, China Development Bank, Sumitomo Mitsui Banking Corp and WestLB have joined at the top as equal-status arrangers.
The loan is split into a $750 million credit and a $50 million revolver with the margin set at 275bp over Libor for both tranches.
The funds are to support Huawei Technologies and Bain CapitalÆs proposed $2.2 billion acquisition of US-based 3Com Corp.
Senior syndication is scheduled to close at the end of December. Depending on the response from sub-underwriting, general syndication might not occur.
Swire PropertiesÆ Rmb2.4 billion dual tranche three-year bullet loan has been launched into general syndication via leads BNP Paribas, HSBC and Standard Chartered.
The credit comprises a Rmb2.2 billion facility and a Rmb200 million portion. Both tranches offer a spread of 110bp over the PBOC rate.
Banks have been invited on two levels. Banks joining with commitments of Rmb300 million or more receive the coordinating arranger title while those lending between Rmb200 million and Rmb290 million get the title of arranger.
Banks have until January 3 to revert.
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