Consolidated Press HoldingsÆ A$1.18 billion dual tranche credit has been signed. Proceeds will be used for general corporate purposes and to refinance existing debt.
The transaction is split into A$530 million and A$655 million five and seven year revolvers.
Sole mandated arranger ANZ Investment Bank committed A$175 million, lenders National Australia Bank contributed A$160 million, Commonwealth Bank of Australia,
Rabobank, and Westpac Banking Corp provided A$100 million apiece, BNP Paribas, Citibank, Royal Bank of Scotland and Toronto Dominion Australia took A$75 million each and ABN Amro, Bank of America and Calyon ended up with A$50 million apiece.
Downer Group Finance has signed a A$350 million loan via sole mandated arranger National Australia Bank. ANZ Investment Bank, Bank of Scotland, HSBC, Mizuho Corporate Bank, SMBC, WestLB and Westpac joined as lenders.
The deal is split into A$85 million and A$165 four and two year revolvers. Proceeds are for general corporate purposes.
Link MS Holdings has successfully raised A$137.3 million via a multi-tranche loan. The facility comprises A$32.3 million, A$40 million, A$45 million and A$20 million five year term loans. Mandated arrangers National Australia Bank and Westpac provided A$68.7 million apiece. Proceeds are for general corporate and acquisition purposes.
China
Hong Fu Jin PrecisionÆs $100 million five year financing has been completed on a club basis. Mandated coordinating arrangers are Banc of America Securities Asia, BNP Paribas, Citigroup, DBS Bank and Mizuho Corporate Bank providing $20 million apiece. Proceeds will be used to purchase machinery and to refinance existing debt. The Taiwanese parent company, Hon Hai Precision Industry is providing a guarantee. Signing took place on September 29.
Hong Kong
PCCW HKT Telephone signed a HK$10.2 billion six year revolver on October 3 via a consortium of 16 banks. Proceeds will be used to refinance 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 million each.
Shenzhen InvestmentÆs $465 million five year fundraising has been signed. A total of 10 banks are participating in the deal. Proceeds are to refinance existing debt and to provide for general corporate purposes.
Mandated arrangers Bank of China (Hong Kong) provided $75 million, Hang Seng Bank took $69 million, Industrial and Commercial Bank of China (Asia) lent $64 million, HSBC pledged $60 million. Arrangers Bank of East Asia, Citic Ka Wah Bank and DBS Bank (Hong Kong) contributed $46 million apiece while China Construction Bank Corp (Hong Kong) provided $27 million and Bank of Communications (Hong Kong) and Bank of Tokyo-Mitsubishi UFJ (Hong Kong) held $23 million and $9 million respectively. Signing was held on September 29.
Sino-French Water DevelopmentÆs HK$1.4 billion financing has been launched into general syndication via mandated coordinating arrangers Bank of China (Hong Kong), BNP Paribas, Calyon and ICBC (Asia).
The seven year facility is split into a HK$780 million term loan and a HK$620 million term loan that can be converted into a revolver after the fourth year. It features a margin of 64bp over Hibor and is being marketed on two tiers. Arrangers contributing HK$100 million or above receive 30.5bp, translating to a top level all-in of 70bp over Hibor while lead managers taking HK$50 million or above get 20.4bp for an all-in of 68bp over Hibor.
Proceeds will be used to refinance existing debt. Financial close is scheduled for October 20. The borrower last tapped the market in September 2001 when it raised HK$1.2 billion via a seven year term loan. That facility was arranged by Credit Agricole Indosuez, HSBC and Bank of China (Hong Kong).
Syndication of the HK$2 billion equivalent fundraising for Tianjin Development Holdings has been closed via mandated coordinating arrangers Calyon, Hang Seng Bank, HSBC and Rabobank. The five year facility received an overwhelming response and saw 17 banks join in general syndication. However, the facility size is unlikely to be increased. Proceeds will be used to refinance existing debt and for general corporate purposes. Allocations will be finalised shortly.
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