Commander Communications signed its A$340 million dual tranche financing on June 30. Westpac was the sole mandated arranger.
Westpac committed A$150 million while Commonwealth Bank of Australia and National Australia Bank contributed A$95 million each. Proceeds are for general corporate purposes.
Southern Cross Broadcasting (Australia)Æs A$275 million credit signed on June 30. Mandated arranger ANZ Bank ended up with a A$165 million commitment while managers Commonwealth Bank of Australia and National Australia bank provided A$55 million apiece.
Proceeds are to refinance existing debt and for general corporate and working capital purposes.
China
The Rmb6.1 billion equivalent dual tranche 10 year financing for Bayer Polyurethane (Shanghai) has been allocated via mandated lead arrangers HSBC, Standard Chartered, China Construction Bank (Shanghai) and ICBC (Shanghai). The four mandated arrangers lent Rmb550 million apiece.
A total of 12 banks joined as arrangers with commitments of Rmb325 million each. They are Agricultural Bank of China (Shanghai), Bank of Communications (Shanghai), Bank of Shanghai, BayernLB (Shanghai), BNP Paribas (Beijing), Citibank (Shanghai), Calyon (Shanghai), China Merchants Bank (Shanghai Wai Tan), Commerzbank (Shanghai), Deutsche Bank (Shanghai), Shanghai Pudong Development Bank (Shanghai) and SMBC (Shanghai).
The facility is guaranteed by Bayer China and the parent company, Bayer AG. It is split between a Rmb4.82 billion tranche æAÆ and a $160 million tranche æBÆ. Signing took place last Friday (June 30).
Sole mandated lead arranger Standard Chartered has launched China National Chemical Corp (ChemChina)Æs A$193.75 million multi-tranche fundraising into senior syndication.
The financing is split between a A$113 million equivalent tranche æAÆ, a A$50 million tranche æBÆ and a $30 million three year tranche æCÆ. The six year tranche æAÆ facility offers a margin of 170bp over the bank bill swap rate (BBSW)/Libor while tranches æBÆ and æCÆ are priced at 150bp over BBSW.
Proceeds will be used to finance the acquisition of an Australian polyethylene manufacturer from Exxon Mobile. Banks have until July 17 to respond.
Market talk is that Datang International Power Generation and Datong Coal Mine are seeking a project financing from banks. The borrowing will be used to fund the construction of two power plants in Shanxi province worth HK$5.26 billion. Datang International Power Generation is the second largest Hong Kong listed mainland electricity producer while Datong Coal Mine is ChinaÆs second largest coal producer.
Hong Kong
The HK$1.265 billion dual tranche facility for Asia Container Terminals has signed. Mandated arrangers Calyon, DBS Bank, HSBC and Standard Chartered Bank contributed HK$316.25 million apiece.
The five year loan is split into a HK$1 billion term facility and a HK$265 million revolving credit. The deal offers a margin of 43bp over Hibor. Proceeds will be used to refinance an existing project finance facility.
Syndication for Champion REITÆs HK$7.2 billion five year fundraising has yet to close with several banks said to be in the final stages of gaining credit approval. Bank of China, Bank of East Asia, Citigroup, Hang Seng Bank, HSBC, ICBC Asia, JP Morgan and SMBC are leading the deal. Banks are expected to revert by today (Friday).
China Resources LandÆs HK$2.4 billion loan has a received commitment from Bank of Tokyo-Mitsubishi UFJ. Around 10 banks are in the process of gaining credit approvals.
The facility size may be increased to HK$2.5 billion due to a resounding response from the market according to bankers close to the deal.
Bank of China (Hong Kong), Calyon, DBS Bank, HSBC and Standard Chartered are leading the deal. The facility is expected to close next Wednesday and signing is targeted for mid-July.
A consortium of 19 banks has bagged the mandate for Henderson Land DevelopmentÆs HK$12.2 billion facility which has been further upsized from HK$10 billion. The three year financing was launched into general syndication on Tuesday (July 4).
The arranger group comprises Agricultural Bank of China, Bank of China (Hong Kong), Bank of East Asia, Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, BayernLB, Calyon, CCB International Finance, Citigroup, DBS Bank, HSBC, ICBC Asia, Mizuho Corporate Bank, OCBC, Rabobank, Royal Bank of Scotland, Fortis Bank, Standard Chartered and SMBC.
Banks are being invited to join as managers and senior managers. Pricing is said to be around the low 30s and the facility will be the largest amount raised in Hong Kong this year-to-date. Proceeds will be used for working capital purposes and to refinance a HK$10 billion five year loan signed in September 2004. Banks responses are due by July 17.
Mandated lead arrangers Rabobank, Hang Seng Bank and HSBC closed the books for Pacific Andes International HoldingsÆ $120 million multi-tranche financing on Tuesday (June 4). The facility has received an overwhelming response in general syndication. More than 16 banks joined with the total subscription in excess of $120 million. The arrangers are in talks with the borrower to decide whether to increase the facility size or scale back the tickets from each bank. Signing is targeted for mid-July.
Sole mandated lead arranger UBS has launched Viasystem Kalex Printed Circuit Board, Viasystems Asia Pacific and Kalex Circuit Board (China)Æs $125 million fundraising in order to expand the arranger group.
The facility comprises a $65 million portion and a $60 million revolving credit, featuring a spread of 150bp over Libor in sub-underwriting. The four year facility is guaranteed by the US based parent company Viasystems. Proceeds will be used for working capital purposes.
Banks responses are due by mid-July.
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