loan-week-june-2329

Loan Week, June 23-29

A roundup of the latest syndicated loan market news.
Australia

Corporate Express AustraliaÆs A$200 million dual-tranche revolving credit has been signed as a club via lead arrangers Commonwealth Bank of Australia and National Australia Bank.

The fundraising is split into a A$50 million and A$150 million revolving credit.

Proceeds are for general corporate purposes.

A A$335 million five year credit for Energy Partnership (Gas) was signed via sole mandated arranger Citi on June 20.

Citi and five other banks that joined in as participants all contributed an equal amount of A$55.83 million each. The banks were BNP Paribas, Bank of Tokyo-Mitsubishi UFJ, Royal Bank of Scotland, Toronto-Dominion and Westpac.

Proceeds are for acquisition purposes.

IntergenÆs A$300 million term loan has been signed on a club basis via mandated leads BNP Paribas, BOS International (Australia), Fortis Bank, KBC Finance, Mizuho Corporate Bank and National Australia Bank.

The facility is split equally into two A$150 million term loans, both with 12 year tenors.

Final allocations saw BNP Paribas providing A$66 million with BOS International (Australia) and Mizuho Corporate Bank contributing A$60 million apiece. Coming in with A$54 million was KBC Finance while Fortis Bank and National Australia Bank held A$30 million each.

Proceeds are to refinance a A$610 million bridge facility signed on 15 December 2000.

Sole mandated arranger ANZ Investment Bank has lead arranged a $529 million dual currency loan for Oxiana Finance.

The multi tranche deal comprises a $220 million five year loan, a $200 million five year revolver, an $80 million one year bullet tranche and a A$25 million five year letter of credit.

The dollar denominated tranches saw ANZ Investment Bank and arrangers BNP Paribas, Commonwealth Bank of Australia and HVB Australia committing $70 million apiece while Bank of Scotland International (Australia), China Construction Bank, National Bank of Australia and Royal Bank of Scotland provided $55 million each.

In the Australian dollar denominated portion, ANZ Investment, BNP Paribas, Commonwealth Bank of Australia and HVB Australia took A$3.5 million apiece. Bank of Scotland International (Australia), China Construction Bank, National Australia Bank and Royal Bank of Scotland each contributed A$2.75 million.

Proceeds are to refinance the acquisition finance of Golden Grove Mine and for the development of the Prominent Hill Copper project in South Australia.

A A$230 million one year dual tranche financing for Stella has been signed as a club via National Bank of Australia and St George Bank.

The deal is split into a A$200 million term portion and a $30 million revolving credit with National Bank of Australia providing A$130 million and St George taking A$100 million.

Valley Longwall International GroupÆs A$187 million multi tranche financing has been completed on a club basis via National Bank of Australia and Bank of Scotland International (Australia) with each contributing A$93.5 million.

The six year facility is split into a A$45 million term loan, a A$67 million credit, two A$20 million revolvers and a A$35 million term portion.

The funds are to support the Catalyst Investment Manager-led leveraged buyout of Valley Longwall International Group.

Syndication has been completed for Westfield GroupÆs $4.685 billion multi-tranche fundraising which was oversubscribed due to an enthusiastic market response, and thus, upsized from $4 billion.

The deal comprises a $1.65 billion three year revolving credit facility, a $2.475 billion revolver and a $560 million term loan.

The facility saw ANZ Investment Bank, Bank of Nova Scotia, Barclays Capital, BNP Paribas, Citi, ING Bank, and National Australia Bank joining at the top, with each holding $225 million.

Joining as co-arrangers were ABN AMRO, Commonwealth Bank of Australia, Credit Suisse, Deutsche Bank, JP Morgan, Lloyds TSB, Merrrill Lynch, Morgan Stanley, Societe Generale, Sumitomo Mitsui Banking Corp, Royal Bank of Scotland, Toronto Dominion Bank, Wachovia Bank and Westpac, with $150 million tickets apiece.

Coming in as lead managers were Bank of America, BayernLB, HSBC, LBBW Bank, Oversea-Chinese Banking Corp each provided $100 million while Nanyang Commercial Bank committed $80 million.

Senior managers Bank of Tokyo-Mitsubishi UFJ, Mizuho Bank, Norinchukin Bank and WestLB contributed $75 million each.

Lenders Calyon took $50 million and Bank of China (Macau) held $30 million. Mega International Commercial Bank and Chang Hwa Commercial Bank ended up with $25 million each.

Proceeds are to refinance an existing deal signed in December 2004.

























































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