Optus Financeæs A$700 million two year revolving credit has been completed on a club basis.
ABN AMRO, ANZ Bank, Barclays Bank, BNP Paribas, Citibank, Commonwealth Bank of Australia and Westpac committed A$100 million apiece.
Proceeds are for general corporate purposes. Signing took place on March 26.
Hong Kong
A $400 million five year term loan for Cathay Pacific Airways has been completed via a syndicate of 13 banks.
Arrangers Mizuho Corporate Bank and Sumitomo Mitsui Banking Corp committed $80 million apiece while DZ Bank held $44.5 million. Banco Bilbao Vizcaya Argentaria, BayernLB, KBC Bank, Mega International Commercial Bank and Maybank put in $26.5 million each.
Lead arrangers Chong Hing Bank and Westpac contributed $18 million each while managers Banca Monte Dei Paschi di Siena, Hua Nan Commercial Bank and Intesa Sanpaolo ended up with $9 million apiece.
Proceeds are for general corporate purposes.
Hembly Garment ManufacturingÆs HK$200 million dual tranche facility has been completed via sole bookrunner Standard Chartered. The facility was upsized from $150 million due to an oversubscription.
Standard Chartered committed HK$50 million while arranger ICBC (Asia) contributed HK$25 million. Lead managers Bangkok Bank, China Construction Bank, CIMB Bank and Oversea-Chinese Banking Corp took HK$20 million apiece while managers Bank Sinopac, E. Sun Commercial Bank and UniCredito Italiano pledged HK$15 million each.
Signing for KGI International FinanceÆs $66 million three year facility took place on March 23 via sole mandated arranger HSBC. A total of 10 banks joined the deal.
HSBC and Bank of China committed $12 million each while Bank of Taiwan lent $10 million. Citic Ka Wah Bank took $7 million and Public Bank held $6 million. Senior managers Dah Sing Bank and KBC Bank contributed $5 million apiece while managers DBS Bank, Hang Seng Bank and Industrial & Commercial International Capital ended up with $3 million each.
India
The $170 million ship financing for ABG Shipyard has so far received a $25 million commitment from United Overseas Bank. ICICI Bank is leading the deal
The facility has a door-to-door tenor of 12.5 years and an average life of seven years. The loan is secured by the retention of shipping vessels and pays a margin of 200bp over Libor.
Proceeds are to fund the purchase of 12 vessels. Banks are expected to revert shortly.
BNP Paribas and Standard Chartered are rumoured to have been mandated to arrange India Infrastructure Finance CorpÆs $500 million yen-equivalent loan. The deal features a tenor of 10 years.
A $2 billion 10 year facility for Reliance Industries has been launched into general syndication and sub-underwriting. The facility has an average life of seven years and pays a margin of 51bp over Libor.
The mandated arrangers are ABN AMRO, Banc of America Securities Asia, Bank of Tokyo-Mitsubishi-UFJ, Calyon, Citigroup, DBS Bank, DZ Bank, HSBC, ICICI Bank, ING Bank, Intesa Sanpaolo, Rabobank, Standard Chartered and Sumitomo Mitsui Banking Corp.
Banks have been invited on four levels. Mandated arrangers joining with $100 million or above receive 87.5bp for an all-in of 64.5bp over Libor. Banks joining with take-and-hold commitments of $75 million or above get 87.5bp for an all-in of 63.5bp. Arrangers pledging $40 to $60 million receive 80.5bp for an all-in of 62.5bp, co-arrangers joining with $28 million to $39 million get 73.5bp for an all-in of 61.5bp while lead managers contributing $10 million to $19 million get 66.5bp for an all-in of 60.5bp.
Banks are scheduled to revert by April 27.
A $250 million dual tranche term loan for Videsh Sanchar Nigam (VSNL) was launched into syndication on March 16.
ABN AMRO was originally mandated and joined by DBS Bank, Export Development Canada and HSBC at the top level, with ABN AMRO and DBS Bank acting as bookrunners.
The loan is split equally into $125 million tranches. The six year facility is priced at 48bp over Libor and the seven year portion offers a margin of 51bp. Both have an average life of six and a half years.
Fees to the market are on three levels. Lead Arrangers lending $20 million and above receive a management fee of 95bp, arrangers committing $10 million to $19 million gain 90bp and co-arrangers providing $5 million to $9 million earn 81bp.
The expected closing date is April 20.
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