OneSteel FinanceÆs A$1.1 billion five-year bullet facility has been completed via mandated lead arrangers Commonwealth Bank of Australia and Westpac with each holding A$120 million. The deal was well received and was increased from A$900 million.
Allocations saw all but one lead manager taking A$67.5 million apiece. These were ANZ, Bank of China, Bank of Tokyo-Mitsubishi UFJ, Banco Bilbao Vizcaya Argentaria, HSBC, Mizuho Corporate Bank, National Australia Bank, Oversea-Chinese Banking Corp, Scotiabank, Sumitomo-Mitsui Banking Corp, Toronto Dominion and WestLB. Bank of America joined with a take of A$50 million.
China
Sole lead arranger and bookrunner Citi completed a Rmb500 million three-year credit facility for China Taizinai Group on September 12.
The deal features a margin of 95% over the Peoples Bank of China rate.
Allocations saw the bookrunner provide Rmb125 million, while arrangers DBS Bank and Rabobank held Rmb125 million and Rmb100 million respectively. Coming in as senior managers were Chinese Mercantile Bank, KBC Bank and Public Bank, all holding Rmb50 million apiece.
Proceeds are for working capital and capital expenditure purposes.
Jinlong CopperÆs $60 million three-year term loan was signed on September 19 via sole mandated lead Citi.
The fund raising pays a spread of 60bp over Libor and has an average life of 2.25 years.
Final allocations saw Citi lending $8 million and arrangers Bank of Tokyo-Mitsubishi UFJ and Sumitomo Mitsui Banking Corp holding $13 million apiece. Mizuho Corporate Bank and Nanyang Commercial Bank contributed $8 million each. Rounding off the syndicate were Korea Exchange Bank and United Overseas Bank holding $5 million apiece.
Proceeds are to refinance an existing debt and for general corporate purpose.
Hong Kong
CEC International HoldingsÆ HK$300 million three-year fund raising was inked on September 17 via sole lead arranger Standard Chartered which provided HK$60 million.
Arrangers United Overseas Bank committed HK$45 million while Fubon Financial took HK$40 million.
Joining as lead managers holding HK$30 million each were China Construction Bank, Citic Ka Wah Bank and Oversea-Chinese Banking Corp. Managers KBC Bank held HK$25 million while Mizuho Corporate Bank and Wing Hang Bank each lent HK$20 million.
Proceeds are to refinance an existing facility signed in July 2007 and for general corporate purposes.
A HK$509 million three-year financing for Favor Lion Group and CSI Investment has been completed via coordinating arrangers Standard Chartered Bank and Industrial & Commercial Bank of China with holds of HK$334 million and HK$175 million respectively.
Herohill InvestmentsÆ $70 million four-year credit has been completed on a club basis via a group of five banks.
Allocations saw Chinatrust Commercial Bank, Fuhwa Commercial Bank, HSBC, Mega International Commercial Bank and Standard Chartered each provide $14 million.
Mr. Tsai Chi Jui is acting as a guarantor and proceeds are for general corporate purposes.
The HK$7 billion seven-year revolver for HH Finance, a special purpose vehicle of Hopewell Holdings, has closed general syndication via a group of 13 mandated arrangers û Agricultural Bank of China, Bank of China (Hong Kong) Bank of Communications, BNP Paribas, Calyon, China Construction Bank, China Merchants Bank, Citi, DBS Bank, ICBC Asia, Mizuho Corporate Bank, Nanyang Commercial Bank and Sumitomo Mitsui Banking Corp. The facility was oversubscribed and upsized from HK$6.5 billion due to an enthusiastic market response.
The loan pays a spread of 32bp over Hibor. Hopewell Holdings is acting as the guarantor.
Final allocations saw all 13 mandated arrangers holding HK$456 million apiece. Coming in as lead managers with contributions of HK$200 million each were Bank of Tokyo-Mitsubishi UFJ, Chang Hwa Commercial Bank, Oversea-Chinese Banking Corp and Tai Fung Bank. Co-lead managers Bank of East Asia and Wing Lung Bank provided HK$100 million apiece with Bank of China (Macau) lending HK$72 million.
Signing is slated for September 27.
HKR InternationalÆs HK$2.5 billion five-year revolver was signed earlier this week (September 18) via a consortium of 17 banks. The deal was oversubscribed due to a good response from the market and upsized from HK$2 billion.
Final allocations saw mandated arrangers Calyon and HSBC contribute HK$225 million each, while Standard Chartered Bank and arrangers Bank of Tokyo-Mitsubishi UFJ and China Construction Bank committed HK$200 million apiece.
Bank of Communications and DBS Bank each provided HK$175 million while Industrial & Commercial Bank of China, Shanghai Commercial Bank and Wing Lung Bank took HK$145 million each.
Co-arrangers Bank of Communications held HK$135 million while Mizuho Corporate Bank and Tai Fung Bank lent HK$125 million each.
Joining as lead managers with holds of HK$70 million apiece were Bank of East Asia, Chong Hing Bank, Maybank and Nanyang Commercial Bank.
Proceeds are to refinance an existing facility signed in October 2002 and for working capital purposes.
Swire PacificÆs HK$10 billion five year credit is still in sub-underwriting via mandated leads Bank of China, Calyon, HSBC, Standard Chartered Bank and Sumitomo Mitsui Banking Corp. A few banks are still processing their approvals.
The deal carries a margin of 25bp over Hibor.
The deal is slated to launch into general syndication this week.
¬ Haymarket Media Limited. All rights reserved.
