Centro PropertiesÆ A$2.98 billion multi-tranche facility has been completed on a club basis. Mandated arrangers Royal Bank of Scotland took A$1.13 billion, ANZ Investment Bank and BNP Paribas provided A$750 million each and Commonwealth Bank of Australia held A$350 million.
The deal is split into five tranches - A$300 million two, three and four year loans, a A$150 million six month commercial bills facility and a A$1.93 billion equivalent two year foreign currency loan. Proceeds are for working capital purposes.
Snowy HydroÆs A$250 million three year fundraising has been signed via mandated arrangers ANZ Investment Bank and Westpac Banking Corp, committing A$125 million apiece. Proceeds are to refinance existing debt and to provide for working capital and general corporate requirements.
Bahrain
Ahli United BankÆs $500 million is progressing in syndication with banks expected to revert by today (Friday). The three year financing has received an overwhelming response and the facility is likely to be increased to $1 billion.
The arranger group consists of ABN Amro, BNP Paribas, Commerzbank, Lloyds TSB, Mizuho Corporate Bank, Bank of Tokyo-Mitsubishi UFJ, Barclays, BayernLB, Deutsche Bank, Fortis Bank, HSBC, Natexis Banques Populaires, Qatar National Bank, Raiffeisen Zentralbank Oesterreich, Sanpaolo IMI, Standard Chartered, SMBC and WestLB.
Proceeds will be used to refinance existing debt and signing is scheduled for later this month.
China
Citigroup has won the sole mandate for Dongfeng Yueda Kia AutomobileÆs $250 million financing. The five year financing comprises a $200 million term loan æAÆ and a $50 million renminbi equivalent term loan æBÆ. Proceeds will be used to fund the construction of a plant in China. A wider syndication will be launched shortly.
Hong Kong
Syndication of IFC DevelopmentÆs HK$10.3 billion financing is set to complete shortly. The six year facility has received a strong response and saw nine banks join in general syndication. Several others are said to be in the final stage of getting credit approvals. However, the facility size is unlikely to be increased.
Lenders are Agricultural Bank of China, Bank of East Asia, BBVA, Bangkok Bank, Mega International Bank of China, Liu Chong Hing Bank, Hua Nan Commercial Bank, Tai Fung Bank and Wing Lung Bank.
ABN Amro, Bank of China (Hong Kong), Bank of Tokyo-Mitsubishi UFJ, BayernLB, BNP Paribas, CCB International Finance, DBS Bank, Fortis Bank (Hong Kong), ICBC Asia, Mizuho Corporate Bank, Rabobank Nederland, Standard Chartered and SMBC are leading the deal.
Signing is targeted for the end of October.
Surface Mount TechnologyÆs HK$480 million facility has been completed on a club basis via nine banks. Proceeds are to refinance an existing loan that was signed in August 2003 and for working capital purposes.
The deal is split into HK$360 million and HK$120 million 5-1/2 yr term loans. The margin is 65bp over Libor for each tranche.
Mandated arrangers Bank of Tokyo-Mitsubishi UFJ (Hong Kong), DBS Bank and Hang Seng Bank provided HK$60 million each while BNP Paribas (Hong Kong), China Construction Bank (Hong Kong), Dah Sing Bank, ICBC Asia, Mizuho Corporate Bank (Hong Kong) and United Oversea Bank contributed HK$30 million apiece. Signing took place on October 5.
Swing Media Technology has successfully raised $30 million from the market via a three year term loan. ABN Amro and Oversea-Chinese Banking Corp are the mandated arrangers, committing $6 million each.
Six banks joined as lenders. They are Maybank committing $6 million, Bangkok Bank providing $4 million, RZB Austria pledging $3.5 million, ICBC lending $2 million, Southern Bank contributing $1.5 million and International Factors (Singapore) ending up with $1 million. Proceeds will be used for working capital purposes.
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