Sigma PharmaceuticalsÆ A$500 million dual tranche loan was completed last week on a club basis via four mandated lead arrangers, namely ANZ, Commonwealth Bank of Australia, National Australia Bank and Westpac.
The loan is split into A$300 million three-year and A$200 million one-year revolvers.
Allocations saw ANZ and Westpac contribute A$170 million apiece, while National Australia Bank and Commonwealth Bank of Australia took A$90 million and A$70 million respectively.
Proceeds are to refinance existing debt.
China
An approximately Rmb2 billion seven-year credit for AU Optronics (Xiamen) has been solely mandated to Bank of China (Xiamen Branch).
The deal pays a spread of 100% of the PBOC rate. Syndication is expected to be launched in mid-October.
Proceeds are to support the construction of two TFT-CCD plants in Xiamen.
Shandong Chenming Paper HoldingsÆ $80 million three-year financing was sealed last week via mandated arrangers Commerzbank (Shanghai branch), Nordea Bank (Shanghai branch), Sumitomo Mitsui Banking Corp and Swedbank (Shanghai branch). Sumitomo Mitsui Banking Corp was acting as the sole bookrunner.
The facility features an average life of 2.625 years and a margin of 255bp over Libor.
Final allocations saw Sumitomo Mitsui Banking Corp and Nordea Bank (Shanghai branch) holding $13.6 million apiece, while Commerzbank (Shanghai branch) and Swedbank (Shanghai branch) took $6.8 million each.
Lead arrangers Nanyang Commercial Bank (Guangzhou Branch) gave $6.3 million, while Bangkok Bank, Intesa Sanpaolo (Shanghai Branch), Oversea-Chinese Banking Corp (Guangzhou Branch) and United Overseas Bank (Shanghai Branch) provided $4.5 million apiece.
Coming in as arrangers were National Bank of Egypt (Shanghai Branch) and Wing Lung Bank (Shanghai Branch), which contributed $3.6 million each, while Dah Sing Bank held $2.9 million. Korea Development Bank (Beijing Branch) and Wing Hang Bank (Shenzhen Branch) committed $2.4 million apiece.
Funds are to refinance existing debt and for working capital requirements.
India
Ballarpur Paper HoldingsÆ $560 million dual-tranche fundraising has seen Bank of Baroda and NordLB join as equal status lead arrangers.
The debt package is split equally into five-year and seven-year term loans. The margin was flexed up by 90bp, and the new spread for the five- and seven-year financing is now 335bp and 365bp over Libor respectively.
Proceeds are for refinancing purposes.
A $100 million three-year transaction for Industrial Development Bank of India was signed on September 19 via mandated lead arrangers BNP Paribas, Intesa Sanpaolo, Kommunalkredit International Bank and RZB Bank. BNP Paribas was acting as the sole bookrunner.
The margin is priced at 105bp over Libor.
Allocations saw Kommunalkredit International Bank take $25 million, while BNP Paribas and Intesa Sanpaolo committed $22.5 million apiece. RZB Bank took $20 million. Coming in as arrangers were Bank Leumi Le-Israel and Mega International Commercial Bank, giving $5 million each.
Proceeds are for general corporate purposes.
Japan
A $1.8 billion one-year revolving credit for Nissan Motor and Nissan Motor Acceptance Corp has been signed via sole mandated lead and bookrunner Citi.
Syndication saw 11 other banks joining in, namely BNP Paribas, Bank of Tokyo-Mitsubishi UFJ, Calyon, Deutsche Bank, HSBC, J.P. Morgan, Mizuho Corporate Bank, Royal Bank of Scotland, Societe Generale, Standard Chartered Bank and Sumitomo Mitsui Banking Corp.
Proceeds are for general corporate purposes.
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