Mandated arranger ANZ Investment Bank is arranging Macquarie Regional Radioworks' A$330 million three year financing that was pre-funded in December 2006. The facility is split into a A$310 million term loan and a A$20 million revolver.
Proceeds are for debt repayment and to provide for general corporate requirements. General syndication will be launched in February.
China
A total of 17 banks have so far joined in sub-underwriting for 3Com Technologies' $882 million leveraged buy-out facility for the acquisition of Huawei Technologies. Goldman Sachs is the sole mandated arranger.
The 17 banks include ABN Amro, Aozora Bank, BNP Paribas, Banc of America Securities Asia, Calyon, China Construction Bank, Citic Ka Wah Bank, DBS Bank, GE Commercial Finance, ING Bank, Industrial & Commercial Bank of China Asia, JP Morgan, Mizuho Corporate Bank, Sumitomo Mitsui Banking Corp, Societe Generale, Taipei Fubon Commercial Bank and WestLB. The deadline for sub-underwriters is on February 16.
Hong Kong
CAG and Zhongran's $75 million seven year fundraising reached financial close yesterday (Thursday) via mandated lead arrangers Bank of China (Hong Kong) and Royal Bank of Scotland.
A total of seven banks joined the facility. They are Barclays Capital, Citic Ka Wah Bank, Fortis Bank, Korea Development Bank, Korea Exchange Bank, Kookmin Bank and Oversea-Chinese Banking Corp. Allocations will be finalised shortly.
The transaction offers a margin of 135bp over Libor. Proceeds are for working capital and to support infrastructure projects in the PRC. China Gas Holdings is providing a guarantee.
H3G signed a Ç300 million financing on January 19. A group of 20 banks are participating in the transaction. Hutchison Whampoa is providing a guarantee.
The five year term loan pays a margin of 32.5bp over Euribor and banks were invited to join on three tiers. Senior arrangers providing Ç100 million or more get 22.5bp, co-arrangers committing Ç50 million to Ç100 million earn 17.5bp and lead managers lending Ç25 million to Ç50 million receive 12.5bp. The funds will be used to refinance existing debt.
Mandated arrangers ABN Amro, Banca Intesa, Bank of America, Bank of China, BNP Paribas, Calyon, CCB International, DBS Bank, HSBC, ING Bank, JP Morgan, Royal Bank of Scotland, Societe Generale and WestLB are contributing Ç184.5 million apiece. Senior arrangers Centrobanca, KfW, SEB Merchant Banking and UBM pledged Ç92.5 million each while lead managers BayernLB and Fortis Bank ended up with Ç23.5 million apiece.
KGI International Financial Holdings' $50 million dual currency revolving credit has been launched into general syndication via mandated lead arranger HSBC. The three year facility is guaranteed by KGI Securities who is providing a letter of comfort.
Banks have been invited to join on three tiers. Arrangers providing $7 million or more will be paid 45bp for an all-in of 125bp, senior managers contributing $5 million to $6 million earn 30bp for an all-in of 120bp while managers taking $3 million to $4 million will receive 15bp for an all-in of 115bp.
Signing is targeted for February 9.
New Silver Investments' $200 million three year facility was signed on January 30 via a consortium of 27 banks. The facility has been upsized to $200 million from $100 million due to a strong response in general syndication
India
Hutchison Essar South, Aircel Digilink India, Fascel and Hutchison Essar's $300 million yen-equivalent five year term facility has been closed via a syndicate of ten banks. Hutchison Essar Mobile Services, Hutchison Telecom East and the borrowers are the guarantors.
The margin is 47bp over Libor and pays an all-in of 61bp. Mandated lead arrangers Calyon and ING Bank contributed $39 million apiece while BayernLB, Bank of Nova Scotia, Export Development Bank, Sumitomo Mitsui Banking Corp, China Construction Corp and Fortis Bank took $30 million each. Mega International Commercial Bank put in $10 million while Bank of Taiwan pledged $5 million.
The signing ceremony took place on January 15.
General syndication of Sabah Forest Industries' seven year $200 million leveraged buy-out will be launched shortly. ABN Amro, Bank of India, Export-Import Bank of India, JP Morgan and State Bank of India are arranging the facility. The margin is 260bp over Libor, with an average life of four years.
Malaysia
Signing was held on January 19 for MEASAT Satellite Systems' $329 million multi-tranche facility via sole mandated arranger and bookrunner Standard Chartered. The loan is split into a $94 million eight year term facility, a $35 million four year term loan, a $12 million four year revolving credit, a $96 million dual tranche portion and a $92 million dual currency, dual tranche term loan.
Mandated lead arranger Standard Chartered contributed $168 million. Lenders Calyon and RHB bank pledged $25 million each, Bank of Nova Scotia and Rabobank put in $20 million apiece, Overseas-Chinese Banking Corp and CIMB committed $14 million each, Maybank and Sumitomo Mitsui Banking Corp lent $13 million apiece while AmMerchant Bank provided $9.5 million and Alliance Bank ended up with $7.5 million.
Proceeds are to finance the purchase of a satellite and for general corporate purposes.
YTL Power International has signed a $170 million three year term loan. The facility offers a spread of 26.5bp over Libor and proceeds are to refinance existing debt.
Mandated arrangers Bank of Tokyo-Mitsubishi UFJ, Citibank (Malaysia), Mizuho Corporate Bank and Oversea-Chinese Banking Corp (Labuan) committed $16 million each and BNP Paribas (Labuan), Calyon, DBS Bank (Labuan), ING Bank (Labuan) and KBC Bank (Labuan) contributed $15 million apiece. Lead arranger Societe Generale (Labuan) joined in syndication with a commitment of $13 million, arranger Bank of East Asia (Labuan) pledged $10 million and senior manager Mega International Commercial Bank (Labuan) ended up with $8 million. The signing ceremony was held on January 24.
Philippines
ABS-CBN Broadcasting Corp's $85 million five year fundraising will close syndication next week. ABN Amro, Bank of the Philippine Island and ING Bank are lead arranging the transaction.
The facility is split into $39.1 million, Ps2.25 billion and Ps1.85 billion tranches that offers a margin of 225bp over Libor for the first tranche and 215bp over the MART rate for the second and third tranches. Maybank, Oversea-Chinese Banking Corp and RHB Bank have so far joined in syndication.
Singapore
Net Steel is rumored to be looking for a $150 million financing from mandated arrangers Calyon, Sumitomo Mitsui Banking Corp and Maybank.
Wingate Overseas Holdings signed a $200 million dual tranche fundraising on January 30. The deal has a tenor of five years and the margin is 29bp over Libor. The facility is split into a $130 million tranche æAÆ and $70 million tranche æBÆ.
In tranche æAÆ, BNP Paribas, DBS Bank and Chinatrust Commercial Bank lent $16.5 million apiece, Oversea-Chinese Banking Corp put in $16 million each, Bank of Tokyo-Mitsubishi UFJ, Cooperative Centrale Raiffeisen-Boerenleenbank and Nanyang Commercial Bank contributed $15.6 million each, E Sun Commercial Bank and Fortis Bank committed $5.6 million apiece, Hua Nan Bank gave $2.6 million while Banco Bilbao Vizcaya Argentaria put in $1.95 million.
For tranche æBÆ, BNP Paribas, Chinatrust Commercial Bank and DBS Bank provided $8.9 million apiece, Oversea-Chinese Banking Corp lent $8.5 million, Bank of Tokyo-Mitsubishi UFJ, Cooperative Centrale Raiffeisen-Boerenleenbank and Nanyang Commercial Bank contributed $8.4 million each, E Sun Commercial and Fortis Bank pledged $3.5 million apiece, Hua Nan Commercial Bank held $1.4 million and Banco Bilbao Vizcaya Argentaria chipped in $1.05 million.
Proceeds are to refinance existing debt and for working capital purposes.
Taiwan
Wingate Overseas Holdings signed a $200 million five year dual tranche facility on January 30. The financing is guaranteed by Want Want Holdings and funds will be used for debt repayment and working capital purposes.
The transaction includes a $130 million term loan and a $70 million revolver that offer a margin of 29bp over three-month Libor.
Mandated arrangers BNP Paribas, Chinatrust Commercial Bank and DBS Bank contributed $25.5 million apiece, Oversea-Chinese Banking Corp, Bank of Tokyo-Mitsubishi UFJ (Hong Kong), Cooperatieve Centrale Raiffeisen-Boerenleen Bank and Nanyang Commercial Bank lent $24 million each while lead managers E. Sun Commercial Bank (OBU) and Fortis Bank (Taipei Offshore Banking) committed $10 million apiece. Lenders Hua Nan Commercial bank (Hong Kong) and Banco Bilbao Vizcaya Argentaria (Hong Kong) ended up with tickets of $4 million and $3 million respectively.
Yageo Group's NT$4.5 billion revolver has been signed via a consortium of 10 banks. The signing ceremony took place on January 30 in Taipei.
Mandated arrangers Hua Nan Commercial Bank contributed NT$146 million, Mega International Commercial Bank pledged NT$60 million, China Development Industrial Bank committed NT$50 million, Shanghai Commercial & Savings Bank lent NT$30 million and Cathay United Bank took NT$15 million. Participants Fortis Group, Land Bank of Taiwan and Taiwan Business Bank provided NT$30 million each, Chang Hwa Commercial Bank held NT$24 million, Central Trust Commercial Bank took NT$20 million and Cathay Life Insurance ended up with NT$15 million.
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