Roc Oil signed a $305 million 364 day term loan on November 7. Mandated arranger Commonwealth Bank of Australia committed $235 million while BOS International (Australia) and Societe Generale joined as lenders with tickets of $35 million each. Proceeds are for acquisition purposes.
China
SIHL FinanceÆs HK$3 billion fundraising was signed on Thursday (Nov 16) via mandated arrangers Bank of China (Hong Kong), BNP Paribas, Calyon, CCB International Finance, DBS Bank, SMBC and HSBC. The five year facility saw 10 banks join in general syndication.
Joining as arrangers are Agricultural Bank of China, Bank of China (Macau), Bank of East Asia, BBVA, Rabobank International and Mizuho Corporate Bank. Co-arrangers are Bank of China (Singapore), Tai Fung Bank, Nanyang Commercial Bank and Wing Lung Bank.
BNP Paribas and HSBC are running the books while Bank of China (Hong Kong) is the facility agent and CCB International Finance is acting as the documentation agent. Proceeds will be used to repay existing debt.
Hong Kong
Hongkong Land Treasury ServicesÆ S$800 million financing has been launched via mandated coordinating arrangers Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, DBS Bank, HSBC, Standard Chartered and Mizuho Corporate Bank.
The term facility carries a margin of 29bp over Sibor and banks have been invited to join on two levels. Arrangers pledging S$40 million or above receive 22.5bp, translating to a top level all-in of 33.5bp; lead managers holding S$20 million to S$39 million get 17.5bp for an all-in of 32.5bp.
Proceeds will be used for working capital. Banks have until early December to revert.
India
Syndication of Bharat Petroleum Corp (BPCL)Æs $200 million financing has yet to close with banks expected to revert by the end of this month. Mandated coordinating arrangers BNP Paribas, Calyon, Mizuho Corporate Bank and Standard Chartered are all bookrunners on the deal. BNP Paribas is both the documentation and facility agent.
The five year facility features a spread of 59bp over Libor and is inviting banks to participate on three levels. Lead arrangers committing $20 million or above get 35bp over Libor, leading to a top level all-in of 66bp; arrangers lending $10 million to $19 million receive 25bp for an all-in of 64bp while co-arrangers holding $5 million to $9 million earn 15bp for an all-in of 62bp. Proceeds will be used for capital expenditure purposes.
HDFC BankÆs $100 million fundraising has been completed. There are 10 banks participating in the transaction. Mandated arrangers DZ Bank, Mizuho Corporate Bank and Natexis Banques Populaires committed $15 million each and Raiffeisen Zentralbank Oesterreich and DBS Bank provided $13 million apiece.
A consortium of banks has launched India Oil CorpÆs $200 million yen equivalent facility into general syndication. The arranger group includes BNP Paribas, Bank of Tokyo-Mitsubishi UFJ, Calyon, Citigroup, HSBC, ING Bank, Mizuho Corporate Bank and Standard Chartered. All mandated arrangers except Bank of Tokyo Mitsubishi UFJ are running the books and BNP Paribas is acting as the facility agent. The 3.17 year deal carries a margin of 30bp over Libor. Banks have until December 15 to respond. Proceeds will be used to refinance an existing facility signed in December 2004.
Tata SonsÆ $150 million term loan has been launched into sub-underwriting via mandated coordinating arrangers Banc of America Securities, Barclays Capital and Standard Chartered. The six year amortising facility offers a top level all-in of 59bp over Libor. Proceeds will be used for working capital. A wider syndication will be launched shortly.
Tata Steel, another subsidiary of Tata Group, is returning to the market with a $1.45 billion facility via joint mandated lead arrangers ABN Amro and Standard Chartered. The facility has been downsized from $1.78 billion and launched into general syndication. Around 30 banks are being invited to join and 17 banks are already processing credit approvals. Proceeds will be used to support the $10.1 billion acquisition of Corus Group. Financial close is scheduled for November 17 (Friday).
The Ç100 million fundraising for Reddy Holdings has been completed via sole mandated lead arranger Citigroup. The five year facility saw Calyon, Mizuho Corporate Bank, SMBC and State Bank of India join in syndication. Proceeds will be used to refinance an existing facility.
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