A A$195 million dual-tranche facility for Beston Accommodation Parks Trust has been signed as a club via Commonwealth Bank of Australia and National Australia Bank.
The two year fundraising is split into a A$150 million loan and a A$45 million portion. Commonwealth Bank of Australia committed A$97.2 million while National Australia Bank provided A$97.8 million.
The proceeds are for capital expenditure and general corporate purposes.
Stella Group HoldingsÆ A$1.1 billion six year financing has been funded via mandated arranger UBS. General syndication is expected to be launched within the next two weeks.
Hong Kong
New World China Land FinanceÆs HK$2 billion five year credit has been launched into general syndication via mandated arrangers HSBC and ICBC Asia.
Banks have been invited to join on three tiers. Arrangers providing HK$250 million or more receive 30bp in management fees for an all-in of 65.1bp over Hibor. Co-arrangers lending between HK$175 million and HK$245 million get 20bp in fees for an all-in of 62.7bp while senior managers holding HK$100 million to HK$170 million get 10bp for an all-in of 60.4bp.
The facility features a spread of 58bp over Hibor and an average life of 4.25 years. New World China Land is the guarantor.
Banks are expected to revert by the end of July.
Syndication of Noble GroupÆs $1 billion three year revolving credit facility has closed oversubscribed via mandated arrangers and bookrunners ABN AMRO, ANZ Investment Bank, Fortis Bank, ING Bank, Royal Bank of Scotland, Societe Generale and Standard Chartered.
Allocations have not yet been finalised and the amount is likely to be increased at the borrowerÆs discretion. The signing ceremony is slated to be held in the second week of July.
United Asia FinanceÆs HK$1.5 billion three year term loan was signed on July 3 via mandated arrangers Bank of Communications, Bank of East Asia, First Commercial Bank, Fubon Bank, Mizuho Corporate Bank, Standard Chartered Bank and Taishin International Bank, with Standard Chartered running the books.
India
Mandated arranger Barclays Capital has launched a $75 million five year fundraising for Alok Industries into general syndication. Bank of India, State Bank of India and UTI Bank have joined at the top as mandated arrangers.
The deal features a $25 million greenshoe and pays a margin of 220bp over yen Libor.
Banks have been invited on four levels. Mandated arrangers contributing $15 million or more receive a 110bp participation fee for a top-level all-in of 246bp over yen Libor while arrangers committing between $7.5 million and $14 million get 100bp for an all-in of 240bp. Co-arrangers taking $5 million to $7 million receive 90bp for an all-in of 238bp and lead managers lending $3 million to $4 million get 80bp for an all-in of 236bp.
Roadshows will be held in Taipei and Singapore and commitments are due by the end of July.
Discovery DrillingÆs $130 million six year financing has been inked via a syndicate of six banks.
Mandated arrangers ICICI Bank provided $55 million while Intesa Sanpaolo contributed $25 million. KBC Bank and United Overseas Bank took $20 million each while lead managers Bank Negara Indonesia and ICBC Asia ended up with $5 million apiece.
Sabah Forest IndustriesÆ $200 million LBO has been closed and allocations have been finalised via a syndicate of 10 banks.
Mandated arrangers ABN AMRO, JP Morgan, Bank of Baroda, Bank of India, NordLB and State Bank of India committed $19.4 million apiece while Export-Import Bank of India joined with a hold of $28.5 million.
Arrangers Industrial Bank and Shinhan Bank took $20 million each while VTB Bank held $15 million.
Proceeds are to fund Ballarpur IndustriesÆ leveraged buyout of Sabah Forest Industries.
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