Abacus Fund ManagementÆs A$550 million dual tranche fundraising was completed on February 29 as a club deal via mandated leads ANZ, Commonwealth Bank of Australia and St George Bank.
The loan comprises two revolvers in the form of a A$400 million three-year tranche and a A$150 million 18-month portion.
Allocations saw ANZ holding A$250 million while Commonwealth Bank of Australia and St George Bank contributed A$150 million apiece.
Syndication is ongoing for Coffey InternationalÆs A$200 million five-year bullet facility via sole lead ANZ.
The proceeds from the multi-currency debt package are to support acquisitions and refinance existing debt.
Peoplebank AustraliaÆs A$59 million three-year credit has been inked on a club basis via mandated leads Commonwealth Bank of Australia and Westpac Banking Corp with each taking A$29 million.
Commitments are due by March 10 for Origin EnergyÆs $1.01 billion equivalent multi-tranche financing via bookrunners ANZ, Commonwealth Bank of Australia, Deutsche Bank, JPMorgan and National Australia Bank.
The three-year loan comprises a A$700 million debt, a A$200 million credit and a $200 million revolver.
The funds are to support OriginÆs previously announced growth capital expenditure requirements, including the Darling Downs Power Station project and ongoing coal-seam gas developments.
China
Syndication of Chailease International Finance CorporationÆs Rmb300 million three-year fundraising via sole lead Mizuho Corporate Bank is scheduled to close at the end of the week.
A $131 million two-year offshore aircraft financing for Hainan Airlines has closed oversubscribed but will be scaled back. Royal Bank of Scotland is leading the deal.
Joining the syndicate as arrangers were Bayerische Hypo-und Vereinsbank, Bayerische Landesbank, Natixis and Nanyang Commercial Bank. Allocations have yet to be finalised with the signing ceremony expected to take place before the coming Easter break.
Proceeds are to finance the purchase of two 737 and two 787 Boeing aircraft which are slated to be delivered in 2010.
TCC Guigang Cement CorporationÆs Rmb1.06 billion dual tranche credit is progressing slowly in the market due to complications with the Chinese Regulatory system and due to the Lunar New Year break. The mandated leads and bookrunners are BNP Paribas, Calyon, Standard Chartered Bank and Oversea-Chinese Banking Corporation. Bank of China has joined in as an equal-status lead arranger.
The deal is split into a Rmb700 million five-year portion and a Rmb360 million three-year revolver priced at 105% of the PBOC rate. The two tranches have a two-year extension option.
So far China Development Bank has joined in and syndication is expected to close next month. Proceeds are to support the construction of the second phase cement plant.
Hong Kong
Bookrunners Bank of China (Hong Kong), Bank of Tokyo-Mitsubishi UFJ and Mizuho Corporate Bank have launched a HK$1.43 billion five-year term loan for China Resources Snow Breweries into general syndication.
Banks have been invited on two levels. Arrangers providing HK$150 million or more receive 45bp in upfront fees for an all-in of 66bp over Hibor while senior managers holding between HK$70 million and HK$140 million get 35bp in fees for an all-in of 64bp.
The facility features a spread of 57bp over Hibor. The targeted close is set for mid-March.
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