China
A Rmb700 million dual tranche package for ECM Property Holding has been signed via mandated lead arrangers DBS and HSBC on a club basis. The deal is split into five-year credit facilities of Rmb531 million and Rmb169 million.
Final allocations saw DBS holding Rmb400 million, while HSBC contributed Rmb300 million. Proceeds are for acquisition and working capital purposes.
ReneSola’s Rmb800 million five-year loan has been completed via China Construction Bank.
Proceeds are to support the construction and development of the company's polysilicon production facility in Meishan, Sichuan province.
An $80 million three year credit facility for Yingli Energy (China) was sealed on January 26 via sole mandated lead arranger ADM Capital Management.
The margin is priced at a fixed rate of 12%. Proceeds are to support the expansion of the borrower's production capacity and for general corporate purposes.
Hong Kong
DBS has been mandated to arrange an HK$800 million two-year transaction for China Resources Gas. The borrower is in talks with a few other undisclosed lenders to seal the deal on a club basis sometime in early March.
Proceeds are for general corporate purposes and future acquisitions.
India
Syndication of a Rs43.4 billion dual-currency financing for Jhajjar Power, an SPV for the Jhajjar Coal-Fired Thermal Power Plant PPP project, is ongoing via sole mandated lead arranger and bookrunner IDBI Bank. Syndication is expected to close in March.
The 15 year-term loan pays a spread of 13.5% per annum. Banks are invited to join in as participants for an upfront fee of 25bp.
Proceeds are to fund the construction of a $1.2 billion thermal power plant project in Haryana, India.
Singapore
A three year multi-currency debt package for PSA Corp was upsized to $1.1 billion and inked last week via bookrunners Bank of Tokyo-Mitsubishi UFJ, DBS, Intesa Sanpaolo and United Overseas Bank with Oversea-Chinese Banking Corp joining in as an equal-status lead arranger.
Proceeds are for refinancing purposes.
Taiwan
KA Hitech Finance’s $90 million deal has been signed via bookrunners Mega International Commercial Bank, First Commercial Bank, Land Bank of Taiwan, Ta Chong Bank and Yuanta Commercial Bank.
The five-year term loan financing pays a spread of 120bp over one-month Libor or 120bp over one-month Taifx3, whichever is higher. The commitment fee is 15bp if usage is less than 80%.
Final allocations saw Mega International Commercial Bank holding $20 million, while the other lead banks contributed $15 million each. Participant Cathay United Bank joined in with $10 million.
Proceeds are for general corporate purposes.
