PMPÆs A$330 million multi-tranche facility has been signed as club via a syndicate of four banks.
The deal comprises a A$150 million five year term loan, a A$105 million eight year revolver and a A$75 million one year revolving credit.
Mandated arrangers ANZ Bank committed A$130 million while Commonwealth Bank held A$100 million. Toronto Dominion Bank took A$60 million and Rabobank ended up with A$40 million.
Proceeds are to refinance existing bank facilities and for general corporate purposes. The signing ceremony was held on May 3.
Suncorp-MetwayÆs A$450 million bridge facility has signed via sole arranger and provider Citigroup.
The one year bilateral loan is to support the acquisition of Promina Group completed in March 2007.
BNP Paribas has been mandated to arrange WesfarmersÆ share purchases as part of their A$20 billion bid for Coles Group.
The bridge loan facility is also funded by a consortium comprising of Macquarie Bank, Pacific Equity Partners and Permira Holdings.
Limited information has been disclosed, but it is known rival bids from other consortiums are in process.
Hong Kong
A HK$1.45 billion four year term loan for Norstar Automobile Industrial was signed on April 30 via mandated lead arrangers and bookrunners Bank of Tokyo-Mitsubishi UFJ, Hang Seng Bank, KBC Bank and OCBC.
The dual -tranche facility was upsized from HK$1 billion and carries a margin of 105bp over Hibor, with an average life of three years based on a grace period of 24 months.
A three tier participation structure was offered, with banks contributing HK$50 million and above for the title of lead arrangers. Arrangers committed between HK$35 million and HK$49 million and lead managers provided HK$20 million to HK$34 million.
Allocations have been finalised with bookrunners committing HK$100 million apiece. Lead arranger State Bank of India (Hong Kong Branch) also took HK$100 million, with Commerzbank Aktiengesellschaft (Hong Kong Branch) and Korea Exchange Bank (Hong Kong Branch) holding HK$82 million and HK$67 million respectively. Contributing HK$52 million each were Arab Bank (Singapore Branch), Bank of Taiwan (Hong Kong Branch), China Construction Bank, Export Development Canada, Intesa Sanpaolo (Hong Kong) and Taiwan Business Bank (Hong Kong).
Coming in as arrangers were Bangkok Bank (Hong Kong Branch), CIMB Bank (Hong Kong Branch), Luso International Banking (Macau) and Public Bank (Hong Kong) providing HK$44 million apiece. ICBC (Asia), Bank Negara Indonesia (Persero) (Hong Kong Branch), Taipei Fubon Commercial Bank and Wing Hang Bank each held HK$36 million.
Lead managers were Korea Development Bank (Guangzhou Branch) taking HK$32 million. Banca di Roma (Hong Kong Branch), Cathay United Bank (Hong Kong Branch), Industrial & Commercial International Capital and Maybank (Hong Kong Branch) committed HK$28 million each. Contributing HK$25 million was Shanghai Commercial & Savings Bank (Offshore Banking Branch).
Proceeds are to refinance an existing debt and for working capital purposes.
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