Australia Pacific Airports (Melbourne)Æs A$700 million three-year fundraising has been completed on a club basis via leads ABN AMRO, Commonwealth Bank of Australia, Deutsche Bank, National Australia Bank and Westpac Banking Corporation.
A A$660 million dual tranche financing for Gandel Bridge Finance has been provided as a club loan by mandated lead arrangers ANZ, HSBC, National Australia Bank and Westpac Banking Corporation.
The loan comprises a A$396 million three-year bullet and a A$264 million five-year revolver.
Goodman Australia Industrial FundÆs A$1.6 billion multi-tranche facility was inked on March 20 via a syndicate of five banks. Commonwealth Bank of Australia and Westpac Banking Corporation led the deal.
The debt comprises two A$400 million credits with tenors of two and three years respectively, a A$350 million four-year facility and a A$450 million portion that is solely held by Westpac.
Final allocations for the syndicated portion saw Westpac provide A$458 million, while Commonwealth Bank of Australia committed A$258 million. Co-arrangers St George Bank and ING Bank contributed A$184 million and A$150 million, respectively. Senior lead manager Royal Bank of Scotland ended up with A$100 million.
Proceeds are to refinance an existing debt and to fund expansion.
Incitec PivotÆs A$2.4 billion one-year bridge facility has been completed on a club basis via mandated leads ANZ, Commonwealth Bank of Australia, nabCapital and Westpac.
The facility can be drawn in either Australian dollars or US dollars. Allocations saw the banks taking an equal share of A$600 million apiece.
The funds are to support the acquisition of the remaining stake in Dyno Nobel, an explosives manufacturer.
A A$2.54 billion multi-tranche fundraising for Primary Healthcare has been launched into sub-underwriting and was funded on March 12 via bookrunners ABN AMRO, Calyon, Credit Suisse, Deutsche Bank and National Australia Bank.
The two-year credit comprises a A$1.44 billion loan, a A$1 billion bullet and a A$100 million portion and features a 12-month extension option.
Proceeds are to support the acquisition of Symbion Health.
China
A $101 million club deal for Air China has been signed via five mandated arrangers û Bank of China, BNP Paribas, Calyon, Industrial & Commercial Bank of China and Societe Generale.
Proceeds are to support the financing of aircraft.
Allocations have been finalised for Hainan Airlines CompanyÆs $131 million two-year offshore financing via sole lead Royal Bank of Scotland.
The lead, together with lead arranger Bayerische Hypo-und Vereinsbank took $28 million while Bayerische Landesbank, Nanyang Commercial Bank and Natixis each committed $25 million.
The deal was oversubscribed and the final amount will be scaled back at the borrowerÆs discretion. The signing ceremony is expected to take place in early April.
The funds are to finance the purchase of two 737 and two 787 Boeing aircraft which are slated for delivery in 2010.
Zhuhai Zhongfu EnterpriseÆs Rmb2.75 billion dual tranche financing was sealed last Tuesday (March 18) via mandated leads and bookrunners Calyon and Industrial & Commercial Bank of China.
The deal is split into a Rmb2.5 billion five-year portion with an average life of 3.5 years and a Rmb250 million three-year revolver. The margin is priced at 105% of the PBOC rate for both tranches.
Final allocations saw Industrial & Commercial Bank of China and Calyon committing Rmb598 million and Rmb461 million respectively. Coming in as arrangers were Bank of Communications, which took Rmb500 million, and China Construction Bank, which provided RMB310 million. Bank of China and Shenzhen Development Bank took Rmb300 million apiece.
Coming in as lead managers were China EverBright Bank and Rabobank, giving Rmb100 million each while China Merchants Bank took Rmb81 million.
Proceeds are to refinance an existing debt facility and for general corporate purposes.
Hong Kong
A $500 million three-year bullet loan for Sinochem Hong Kong was launched into syndication yesterday (March 27) via leads ABN AMRO, BNP Paribas, Calyon, ING Bank and Standard Chartered.
Banks have been invited on three levels. Mandated lead arrangers providing $30 million and above receive 66bp in upfront fees for an all-in of 89bp. Lead arrangers lending between $20 million and $30 million gain 57bp while senior managers holding between $10 million and $20 million get 48bp for all-ins of 86bp and 83bp over Libor respectively.
The loan pays a spread of 67bp over Libor. Banks have until April 9 to revert.
Wheelock & CoÆs HK$6 billion dual tranche five-year debt package has been completed via a consortium of 14 banks. Standard Chartered is the original mandated lead arranger.
The five-year facility is split into a HK$5.5 billion term loan and a HK$500 million revolver. Both tranches offer a spread of 50bp over Hibor.
Allocations saw the original lead along with equal status-arrangers ANZ, Bank of China, Bank of Communications, Bayerische Landesbank, Industrial & Commercial Bank of China (Asia), Mizuho Corporate Bank and Sumitomo Mitsui Banking Corporation commit HK$560 million each while Banco Bilbao Vizcaya Argentaria contributed HK$520 million.
Senior manager Tai Fung Bank held HK$300 million while managers First Commercial Bank, Land Bank of Taiwan and Scotiabank provided HK$200 million apiece. Maybank ended up with HK$100 million.
Proceeds are to fund the subscription of the rights issue by Wharf and for working capital purposes.
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