Futuris Corporation has signed a A$750 million loan agreement via a consortium of six banks. Proceeds are for working capital purposes.
The facility is divided into a A$125 million, A$100 million and A$60 million one year revolvers. ANZ Investment Bank, BNP Paribas, Commonwealth Bank of Australia, Citibank, National Australia Bank and Westpac are providing the funds.
Namoi Cotton Co-operativeÆs A$62 million multi-tranche financing has been signed on a club basis. ANZ Investment Bank and Rabobank (Australia) are lead arranging the facility. The transaction consists of a A$24 million two year term loan, an A$8 million portion and a A$30 million 364-day revolver.
ANZ Investment Bank and Rabo Australia committed A$31 million apiece. Proceeds are for general corporate purposes.
China
Hong Fu Jin Precision is in the market with a $100 million five year loan via a group of five banks. Mandated co-ordinating arrangers are Banc of America Securities Asia, BNP Paribas, Citigroup, DBS Bank and Mizuho Corporate Bank. Proceeds will be used for general corporate purposes. The Taiwanese parent company, Hon Hai Precision Industry is providing a guarantee.
ChemChina International (Hong Kong) and Qenos have successfully raised $193 million via a syndicate of 12 banks.
Mandated lead arrangers Standard Chartered ended up with $16.4 million, ANZ Banking Corp and Calyon (Australia) lent $30 million each while Bank of Tokyo-Mitsubishi UFJ took $20 million. CCB International Finance, CITIC Ka Wah Bank, HSH Nordbank (Hong Kong), ICBC (Asia) and NordLB provided $12 million apiece. GE Commercial Finance and ICICI Bank (Hong Kong) took $7.5 million and came in as arrangers.
The financing comprises a A$113 million equivalent six year term loan, a A$50 million six year revolving credit and a A$30 million three year term facility. Proceeds will be used to finance the acquisition of Australian polyethylene manufacturer from Exxon Mobile and Orica and for general corporate purposes.
Silitech Technology (Suzhou) has successfully raised $38 million equivalent from the market. A group of seven banks are participating in the deal. The facility is split into $18 million and a Rmb166 million five year term loans.
The mandated arrangers are Agricultural Bank of China (Suzhou), Bank of China Wuzhong (Suzhou), BNP Paribas, Citigroup, Hang Seng Bank, ICBC (Suzhou Wuzhong) and SMBC. Proceeds will be used for working capital purposes. Signing took place on September 25.
Hong Kong
Cathay Pacific is sounding banks for a $280 million aircraft financing. Several banks are said to have submitted proposals. They are Bank of China (Hong Kong), ING Bank, SG Asia, Mizuho Corporate Bank and SMBC. The borrower last tapped the market when it raised $600 million via a one year facility. That facility was arranged by SMBC, DZ Bank and Fortis Bank. A formal mandate will be announced shortly.
Syndication for IFC DevelopmentÆs HK$10.3 billion facility has yet to close with banks expected to revert by October 6. The six year financing has received commitments from several banks so far. The arranger group consists of 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. Proceeds will be used to refinance a HK$7 billion facility signed in October 2000.
Allocations for Nine Dragons PaperÆs $350 million fundraising have been finalised. A total of 15 banks are participating in the deal.
Mandated lead arrangers Bank of China (Hong Kong) committed HK$138 million, Bank of Communications (Hong Kong) took HK$40 million while BNP Paribas (Hong Kong), Commonwealth Bank of Australia and KBC Bank (Hong Kong) pledged HK$30 million each.
Co-lead managers lent HK$10 million apiece. They are Bank of China (Macau), Shanghai Commercial & Savings Bank (Offshore Banking), SMBC and United Overseas Bank (Guangzhou). China Construction Bank (Hong Kong) also joined as a co-lead manager with a hold of HK$15 million.
Managers are Maybank (Hong Kong) providing HK$7 million and four others û Cathay United Bank (Hong Kong), CITIC Ka Wah Bank, E. Sun Commercial Bank (Hong Kong) and Public Bank (Hong Kong) û coming in with tickets of HK$5 million apiece.
Bank of China (Hong Kong) and BNP Paribas are running the books. Proceeds will be used for general corporate purposes. The borrowing entity is a special purpose vehicle ND Finance. Proceeds will be used for working capital purposes and signing took place on Tuesday (September 19).
PCCW HKT Telephone will sign a HK$10.2 billion six year facility today (Friday) via a group of 16 banks. Allocations have been finalised. Proceeds will be used for refinancing existing debt.
Mandated arrangers are ICBC Asia committing HK$2 billion, Bank of China, BayernLB and Calyon contributing HK$800 million each, Hang Seng Bank taking HK$650 million, Bank of Nova Scotia, DBS Bank, and Mizuho Corporate Bank lending HK$600 million apiece, Bank of Tokyo-Mitsubishi UFJ and SMBC with commitments of HK$500 million each, Bank of America Securities Asia, BNP Paribas, Royal Bank of Scotland and Standard Chartered Bank pledging HK$400 million apiece and Bank of Communications and HSBC ending up with HK$350 each.
River Trade Terminal has signed a HK$2 billion five year fundraising via mandated arrangers Standard Chartered and SMBC. Proceeds are for general corporate purposes. Signing was held on September 22.
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