A A$400 million dual tranche bullet facility for AWB Commercial Funding has been completed on a club basis via a syndicate of four banks.
The deal comprises a A$280 million one year term loan and a A$120 million two year portion.
Final allocations saw ANZ, Commonwealth Bank of Australia, Rabobank and Westpac each contribute A$100 million.
Olam InternationalÆs A$200 million facility has been closed oversubscribed via mandated leads ANZ, St George Bank and Rabobank. ANZ and Rabobank were acting as the bookrunners. The financing was upsized from A$150 million.
The facility carries a margin of 90bp over BBSY.
Final allocations saw the bookrunners contributing A$50 million apiece with St George Bank holding A$40 million. Coming in as lead arrangers were Commonwealth Bank of Australia and Westpac taking A$30 million each.
Proceeds are to refinance an existing bridge loan.
China
A $1.2 billion LBO facility backing Bain Capital and Huawei TechnologiesÆ proposed acquisition of 3Com Corp is underway. ABN AMRO, Bank of China, Citi, HSBC and UBS have been mandated to arrange an $800 million five year dual tranche LBO financing that will be syndicated in Asia. The rest of the facility will be syndicated in the United States.
The Asian-portion of the loan comprises a $750 million facility and a $50 million credit.
The banks are currently expanding the mandated arranger group and the deal is slated to launch into senior syndication at the end of the month.
An additional $400 million short-term bridge loan will be underwritten by Citi, HSBC and UBS to finance the acquisition.
Chang Chun Chemical (Jiangsu)Æs $76 million dual currency five year term loan has been inked via five mandated lead arrangers û Bank of China, Bank of Tokyo-Mitsubishi UFJ, DBS Bank, ING Bank and KBC Bank. DBS Bank was the original mandated lead arranger and bookrunner.
The loan comprises a $53.3 million tranche, paying a margin of 40bp over Libor and a $22.7 million RMB-equivalent portion featuring a spread of 90% over the PBOC rate. Both tranches feature an average life of four years.
Final allocations saw the bookrunner committing $14 million with the remaining mandated lead arrangers taking $13 million apiece. Coming in as a senior manager was United Overseas Bank providing $10 million.
Proceeds are for general corporate purposes.
Syndication of China National Salt Industry Corp (CNSIC)Æs RMB1 billion three year term loan has closed via sole mandated arranger and bookrunner DBS Bank. The facility was oversubscribed and upsized from RMB700 million due to an enthusiastic market response.
Syndication saw a total of 16 banks joining in û Bank of Dalian, Bank of East Asia, Bank of Tokyo-Mitsubishi UFJ (Beijing Branch), Calyon, China Citic Bank, Hang Seng Bank (Beijing Branch), Intesa Sanpaolo, KBC Bank (Shanghai Branch), Mizuho Corporate Bank (Shanghai Branch), Nanyang Commercial Bank, Oversea-Chinese Banking Corp (Shanghai Branch), Public Bank, Rabobank, Shinhan Bank, Sumitomo Mitsui Banking Corp (Shanghai Branch) and United Overseas Bank (Beijing Branch).
Proceeds are for working capital purposes. Signing is slated to take place by the end of this week.
A $165 million three year amortising credit for Sang Heavy Industry was signed on October 8 via a syndicate of six mandated leads û ABN AMRO, DBS Bank, Export-Import Bank of China (Hunan Branch), KBC Bank, Sumitomo Mitsui Banking Corp (Shanghai Branch) and Swedbank (Shanghai Branch). ABN AMRO was the original mandated lead and bookrunner. The fundraising was upsized from $100 million due to a good response from the market.
The deal has an average life of 2.75 years and pays a margin of 70bp over Libor.
Export-Import Bank of China (Hunan Branch), Sumitomo Mitsui Banking Corp (Shanghai Branch) and Swedbank (Shanghai Branch) contributed $25 million apiece. DBS Bank and KBC Bank committed $20 million each while ABN AMRO held $15 million. Lead managers Bank of Nova Scotia and Mizuho Corporate Bank (China) took $10 million apiece. Rounding off the syndicate were Bank of Tokyo-Mitsubishi UFJ, Public Bank (Shenzhen Branch) and United Overseas Bank (Beijing Branch) holding $5 million each as senior managers.
Funds were to refinance an existing debt facility and for working capital purposes.
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