Credit Suisse has fully underwritten Affinity Equity PartnersÆ A$310 million financing. Proceeds will be used to finance Affinity Equity PartnersÆ leveraged buyout of footwear and clothing retailer Colorado Group. A wider syndication will be launched shortly.
Great Southern Plantations has signed a $245 million three year facility via sole mandated arranger ANZ Investment Bank. Proceeds are to refinance existing and for general corporate purposes.
Sole mandated arranger ANZ Investment Bank contributed A$120 million while lenders Mizuho Corporate Bank took A$75 million and Commonwealth Bank of Australia joined with a ticket of A$50 million. Signing took place on September 15.
Incitec Pivot has successfully raised A$430 million via sole mandated lead arranger Credit Suisse. The facility saw five banks join in general syndication. They are Commonwealth Bank of Australia, National Australia Bank, Westpac, Rabobank and ANZ Investment Bank. Proceeds will be used to support the 15% share buy-back in Incitec Pivot from Orica and to finance the A$165 million acquisition of Southern Cross Fertilisers from BHP Billiton.
Sole mandated lead arranger Credit Suisse has yet to close syndication of Integra CoalÆs A$350 million. The multi-tranche facility has attracted several commitments so far. Proceeds will be used to refinance existing debt held by Glennies Creek Colliery and Camberwell Coal as well as for a debt recapitalisation. Credit Suisse has fully underwritten the deal.
InvoCareÆs A$180 million five year facility was signed on September 18. Mandated arrangers ANZ Investment Bank and National Australia Bank held A$90 million apiece. Proceeds are for general corporate purposes.
Spotless GroupÆs A$290 million loan has been signed on a club basis. Mandated arrangers Australia and New Zealand Banking Group, Commonwealth Bank of Australia and HSBC contributed A$80 million apiece and JP Morgan held A$50 million.
The transaction is divided into three tranches - a A$35 million 364 day loan, a A$30 million three year facility and a A$15 million five year revolver. Proceeds are to refinance existing bank facilities and to provide for working capital and general corporate requirements.
The A$450 million five year credit for Transfield BBF has been completed. Mandated arrangers Calyon took A$100 million and ANZ Investment Bank provided A$80 million. Lenders Commonwealth Bank of Australia contributed A$140 million, Royal Bank of Scotland committed A$50 million and Westpac lent A$80 million. Proceeds are for refinancing purposes. Signing was held on September 11.
Hong Kong
A consortium of 13 banks is syndicating IFC DevelopmentÆs HK$10.3 billion financing. The arranger group comprises Bank of China (Hong Kong), Fortis Bank, Standard Chartered, BNP Paribas, ABN Amro, CCB International Finance, ICBC (Asia), Bank of Tokyo-Mitsubishi UFJ, BayernLB, DBS Bank, Mizuho Corporate Bank, Rabobank and SMBC.
The six year facility offers a margin of 27.5bp over Hibor. Bank of China (Hong Kong) is acting as both facility and documentation agent. Proceeds will be used to refinance a HK$7 billion facility signed in October 2000. Banks have until next Wednesday to respond.
Nine Dragons PaperÆs $350 million fundraising has been completed via sole mandated lead arranger Bank of China (Hong Kong) with a total of 15 banks on board.
The four year financing features an average life of 3.6 years and is priced at 55bp over Libor. Joining as arrangers are Bank of Communications, BNP Paribas, Commonwealth Bank of Australia and KBC Bank. Co-lead managers are China Construction Bank, Bank of China (Macau), Shanghai Commercial & Savings Bank and UOB (Guangzhou) while managers are Maybank, Cathay United Bank, Citic Ka Wah Bank, E.Sun Commercial Bank and Public Bank.
Proceeds will be used for working capital purposes and signing took place on Tuesday (September 19).
India
UTI BankÆs $125 million yen-equivalent facility has been launched into general syndication via a syndicate of 10 banks. Mandated lead arrangers are Barclays Capital, BNP Paribas, Banca Intesa, Citigroup, DBS Bank, Lloyds TSB Bank, Natexis Banques Populaires, Oversea-Chinese Banking Corp, RZB Austria and Standard Chartered.
The one year financing features a margin of 15bp over Libor and is being marketed on two tiers. Lead arrangers holding $6 million to $9 million receive 11bp, translating to a top level all-in of 26bp over Libor while arrangers providing $3 million to $5 million get 10bp for an all-in of 25bp over Libor.
Proceeds will be used to refinance a $120 million yen-equivalent facility signed in September 2005. Banks have until October 6 to revert.
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