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.
India
Amtek AutoÆs $250 million seven-year fundraising has finally closed via a consortium of eight mandated arrangers - ABN AMRO, Calyon, DBS Bank, HSBC, ICICI Bank, ING Bank, Mizuho Corporate Bank and State Bank of India. The original mandated lead and sole bookrunner was ABN AMRO. The facility was oversubscribed and the $50 million greenshoe was exercised.
Allocations are currently being finalised. The syndicate of banks includes Bank of Baroda, Bank of Taiwan, Chang Hwa Commercial Bank, Mega International Commercial Bank, Shanghai Commercial & Savings Bank and UCO Bank.
Signing is expected to take place early next week. The funds are to refinance existing debt and for capital expenditure purposes
Ashok LeylandÆs $200 million five-year financing was inked on December 11 via a consortium of nine banks.
Final allocations saw the leads Banc of America Securities Asia, Citi, Calyon, HSBC and Standard Chartered providing $26 million each. Arrangers Bank of Tokyo-Mitsubishi UFJ, Export Development Bank of Canada and Mizuho Corporate Bank held $20 million apiece while Sumitomo Mitsui Banking Corp took $10 million.
Mandated lead arrangers ICICI Bank and Standard Chartered have launched a $250 million five year fundraising for DLF into senior syndication to a select number of banks.
Banks joining with holds of $50 million or more get the mandated arranger title and juicier margins if they join before year end which is the targeted close date.
The funds are to part support the borrowerÆs 95% stake in Amanresorts.
DBS Bank has joined Finolex CablesÆ Ñ3.835 billion five-year credit at the top with a commitment of Ñ1.75 billion.
Three banks are still awaiting their respective credit approvals. The margin is 104bp over Libor. ICICI Bank is leading the deal.
ICICI Bank has been mandated to arrange an $82 million commercial loan facility for Jet Airways (India).
The deal features a spread of 230bp over Libor and has a door-to-door tenor of eight years with repayments in 24 equal quarterly installments.
Banks have been invited on two levels. Mandated lead arrangers contributing $15 million or more receive 100bp in upfront fees while lead arrangers holding between $10 million and $15 million gain 75bp for all-ins of 249bp and 244bp respectively.
Syndication is scheduled to commence shortly. Proceeds are to part finance the purchase of four Boeing 777-300ER aircraft.
A Ñ59.7 billion, ($500 million equivalent) five-year term loan facility for Vodafone Essar is still in general syndication via mandated arrangers BNP Paribas, Bank of Tokyo-Mitsubishi UFJ, Commerzbank, Fortis Bank, ING Bank and Mizuho Corporate Bank. The original lead arranger and sole bookrunner is BNP Paribas.
The fundraising pays a spread of 53bp over Libor.
So far, three commitments have already been received with one more bank to come. The closing date for syndication is scheduled for today (December 14).
Indonesia
A $206 million five-year financing for Asia Pacific Resources International Holdings (APRIL) was completed on December 7 via mandated lead arrangers Credit Suisse, Fortis Bank, Industrial & Commercial Bank of China (Asia), Standard Bank and WestLB. Credit Suisse was the original mandated arranger and bookrunner. A small portion of the $100 million greenshoe was exercised as the deal was upsized from $200 million.
The amortising loan pays a spread of 300bp over Libor and has an average life of 3.125 years. The grace period is 15 months.
Syndication saw Citic Ka Wah Bank joining in as a participant. Proceeds are for general corporate purposes.
A $500 million dual tranche credit for Berlian Laju Tanker backing its $850 million acquisition of Chembulk Tankers has been launched into syndication via leads DnB Nor Bank, Fortis Bank, ING Bank and NIBC.
The debt package comprises a $400 million 10-year non-recourse tranche and a $100 million five-year recourse loan with the borrower acting as a guarantor. A separate $250 million one-year bridge facility was also provided by the leads on a club basis.
Sole bookrunner Standard Chartered has completed a $38.5 million three-year financing for PT Bank DKI which features a margin of 150bp over Libor.
The facility saw PT Bank Panin, PT Bank Mandiri (Persero), PT Bank Negara Indonesia (Persero), PT Bank Permata and Bank of Tokyo-Mitsubishi UFJ join the deal as equal-status arrangers.
New Zealand
Rank GroupÆs NZ$930 million 2.5-year term loan has been signed via mandated arrangers and bookrunners BOS International and Credit Suisse. The deal was oversubscribed and upsized from NZ$700 million due to an overwhelming response.
The bullet deal features a spread of 300bp over BKBM.
Final allocations saw BOS International and Credit Suisse contributing NZ$250 million and NZ$25 million respectively. Joining in syndication were ANZ providing NZ$100 million while Bank of New Zealand, Rabobank and Westpac committed NZ$75 million apiece. Calyon took NZ$65 million while ABN AMRO, Commonwealth Bank of Australia, Mizuho Corporate Bank and Sumitomo Mitsui Banking Corp gave NZ$50 million each. Rounding off the syndicate were WestLB and HSBC with holds of NZ$40 million and NZ$25 million respectively.
The funds are to refinance existing debt and for working capital purposes.
Synlait FarmsÆ NZ$130 million bullet loan was signed on December 7 via sole bookrunner ANZ.
The fundraising comprises a NZ$118.5 million three-year bullet facility and a NZ$11.5 million one-year revolver.
Allocations saw the bookrunner providing NZ$91 million while lender ASB Bank ended up with NZ$39 million.
Singapore
Fraser & Neave (F&N)Æs $200 million dual tranche credit has so far received three commitments. The mandated lead arrangers and bookrunners are Bank of Tokyo-Mitsubishi UFJ and DBS Bank.
The loan is split into a $150 million five-year term loan and a $50 million seven-year revolver.
Syndication is scheduled to close early next week.
Oversea-Chinese Banking Corp and United Overseas Bank have been mandated for MGP BerthÆs S$1.419 billion three-month bridge facility. Macquarie Global Property Asia Fund II is acting as the guarantor.
The two bank bridge loan is expected to sign later next week.
A S$1.25 billion 18-month bridge loan for South Beach Consortium was completed on December 10 via mandated lead arrangers Bank of Tokyo-Mitsubishi UFJ, DBS Bank, HSBC, Sumitomo Mitsui Banking Corp, Oversea-Chinese Banking Corp and United Overseas Bank.
South Korea
A $100 million eight-year fundraising for Hanjin Heavy Industries and Construction was inked yesterday (December 13) via mandated leads Korea Development Bank and Korea Exchange Bank. The deal was downsized from $200 million and ended up as a club deal as syndication did not take place.
The facility features a margin of 101bp over Libor and an average life of five years. The mandated leads contributed $50 million each.
Proceeds are to finance the construction and expansion of the shipyard.
A $220 million one-year term loan for Kookmin Bank has been mandated to a consortium of 10 lead arrangers on a club basis. The banks are Bank of America, BayernLB, Banco Bilbao Vizcaya Argentaria, BNP Paribas, Calyon, DZ BANK, ING Bank, Oversea-Chinese Banking Corp, Standard Chartered Bank and Sumitomo Mitsui Banking Corp.
Signing is slated to take place next week.
Taiwan
A NT$4.6 billion three-year term loan for CP Asia T-Mart was inked on December 11 via sole lead Taiwan Cooperative Bank.
Forming the syndicate as lenders were Chang Hwa Commercial Bank, Mega International Commercial Bank, Shin Kong Commercial Bank, Taipei Fubon Commercial Bank and Taiwan Business Bank.
A $15 million five-year revolver for HFR Holding Corp was completed on December 10 via mandated leads and bookrunners Chang Hwa Commercial Bank, Industrial Bank of Taiwan, Land Bank of Taiwan, Mega International Commercial Bank and Taishin International Commercial Bank. Industrial Bank of Taiwan was the sole mandated lead arranger.
The loan pays a margin of 80bp over Libor.
Final allocations saw Mega International Commercial Bank and Industrial Bank of Taiwan committing $2.1 million and $1.54 million respectively. Land Bank of Taiwan, Chang Hwa Commercial Bank and Taishin International Commercial Bank provided $1.4 million apiece while participant Hua Nan Commercial Bank held the same amount. E.Sun Bank took $1.2 million while Taiwan Business Bank, Taiwan Shin Kong Commercial Bank and Yuanta Commercial Bank provided $1.12 million each. Completing the syndicate was EnTie Commercial Bank and Bank of East Asia with holds of $0.7 million and $0.5 million correspondingly.
Proceeds are to refinance existing debt and for working capital purposes.
HWA Fong RubberÆs NT$800 million dual tranche five-year facility was signed on December 10 via a consortium of six mandated lead arrangers and bookrunners - Chang Hwa Commercial Bank, Industrial Bank of Taiwan, Land Bank of Taiwan, Mega International Commercial Bank, Taishin International Commercial Bank and Taiwan Cooperative Bank. The original mandated arranger was Industrial Bank of Taiwan.
The financing comprises a NT$600 million portion priced at 95bp over the one-year post office savings rate and a NT$200 million tranche with a margin of 80bp. Both tranches are term loans.
Syndication saw Mega International Commercial Bank holding NT$120 million and Taiwan Cooperative Bank committing NT$80 million. Land Bank of Taiwan, Chang Hwa Commercial Bank and Taishin International Commercial Bank provided NT$75 million apiece while Industrial Bank of Taiwan gave NT$73 million.
Coming in as participants were Taiwan Business Bank, Taiwan Shin Kong Commercial Bank and Yuanta Commercial Bank contributing NT$64 million each while E.Sun Bank took NT$50 million. EnTie Commercial Bank and Hua Nan Commercial Bank ended up with NT$40 million and NT$20 million respectively.
A $571 million three-year multi-tranche financing for Pan Asian Plastic Corp has been completed via a syndicate of six banks.
The three-year deal comprises a NT$125.4 million credit, a NT$256.64 million loan and a NT$188.94 million revolver.
Final allocations saw Cathay United Bank, Industrial Bank of Taiwan and Ta Chong Bank contributing NT$127 million each while Bangkok Bank provided NT$100 million. Taiwan Business Bank committed NT$50 million while Bank of Kaohsiung held NT$40 million.
Vietnam
After a long delay, PetrovietnamÆs $270 million eight-year credit is slated to sign early next week between the bookrunners and the borrower. The lead arrangers and bookrunners are ANZ, BNP Paribas and Natixis.
At present, allocations have not yet been disclosed. Proceeds are for general corporate purposes.
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