An A$770 million three-year guarantee facility for Bilfinger Berger was finally signed last week (November 29) via mandated lead arrangers and bookrunners ANZ and Citi. The deal was upsized from A$600 million due to an enthusiastic market response.
Final allocations saw the bookrunners contributing A$110 million apiece. Coming in as lead mangers with holds of A$75 million each were ABN AMRO, BayernLB, BNP Paribas, Deutsche Bank, Landesbank Baden-Wuerttemberg and Royal Bank of Scotland. Rounding off the syndicate were HSBC and WestLB providing A$50 million apiece.
Proceeds are to refinance existing debt and for general corporate purposes.
Syndication of Linfox AustraliaÆs A$600 million dual tranche financing is still ongoing via mandated leads ANZ and Westpac. The deal was funded on November 29.
The loan comprises an A$400 million three-year bullet facility and an A$200 million three-year amortising loan. ANZ and Westpac have underwritten A$242.5 million each while arranger HSBC underwrote A$115 million. Banks have until December 12 to respond.
China
ASE Assembly & Test (Shanghai)Æs $190 million five-year term loan has so far received two verbal commitments and is being led by mandated lead arrangers and bookrunners DBS Bank and HSBC Bank.
The financing features a margin of 90bp over Libor and an average life of four years. Advanced Semiconductor Engineering (ASE) (Taipei) is the parent company.
Fees to the market are on three levels. Coordinating arrangers contributing $20 million and above receive 25bp flat, arrangers committing between $11 million and $19 million earn 15bp and senior managers taking between $5 million and $10 million get 10bp.
Proceeds are to refinance an existing debt facility, and to provide for capital expenditure and general corporate requirements. The closing date is scheduled for the end of December.
A Rmb300 million three-year fundraising for Chailease International Finance Corp was launched into syndication last Thursday (November 29) via sole lead Mizuho Corporate Bank. A roadshow is scheduled to be held later this month in Shanghai.
After a long wait, syndication of a $750 million five-year facility for Hynix û ST Semiconductor (Wuxi) has been closed via mandated leads and bookrunners China Development Bank and Korea Development Bank.
The fundraising pays a spread of 140bp over Libor, has a one-year grace period and carries an average life of 3.5 years.
Final allocations saw China Development Bank committing $235 million while Korea Development Bank held $150 million. Bank of China came in with $120 million while Agricultural Bank of China and China Construction Bank provided $100 million apiece as participants. Completing the syndicate were China Everbright Bank and Chinese Mercantile Bank with holds of $30 million and $15 million respectively.
Signing is slated to take place on December 20. Proceeds of the loan are to support the construction of the second phase of a wafer plant project based in Wuxi, China.
A Rmb1.06 billion equivalent dual tranche credit for TCC Guigang Cement Corp is still in syndication via mandated lead arrangers and bookrunners BNP Paribas, Calyon, Standard Chartered Bank and Oversea-Chinese Banking Corp. Bank of China has since joined in as an equal-status lead arranger.
The loan is split into a Rmb700 million five-year portion, which can be syndicated in US dollars and is priced at 31bp over Libor, and a Rmb360 million three-year revolver priced at 90% over the PBOC rate. The two tranches have a two-year extension option.
Proceeds are to support the construction of the second phase cement plant. The targeted closing date is towards the end of the month.
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