Mandated arranger National Australia Bank has launched a A$250 million five year refinancing for Adsteam Marine into syndication. The maritime services provider will use the funds to refinance a A$260 million facility that was completed in October 2003 and also led by National Australia Bank. Responses are due by the end of the month.
National Australia Bank and Goldman Sachs JB Were are arranging financing for Texas Pacific and NewbridgeÆs A$1.4 billion acquisition of the Myer department store chain. The deal will be launched into syndication shortly.
China
Syndication of the $466.5 million ship financing for Cosco Container Lines has been completed after an enthusiastic response in syndication. The facility was well oversubscribed but not increased.
Mandated lead arrangers ING Bank and SG Asia held $41 million each, Bank of China, Bank of Tokyo-Mitsubishi UFJ and BNP Paribas lent $40 million apiece, China Construction Bank took $29 million, Bank of Nova Scotia, CIC, DnB Nor Bank, HSH Nordbank, Industrial & Commercial Bank of China, KfW and Mizuho Corporate Bank took $28 million each and Banca Intesa and Oversea-Chinese Banking Corp with $20 million apiece.
Far Eastern IndustriesÆ $128 million equivalent financing has reached financial close. The facility was oversubscribed but not increased, with eight banks joining mandated arrangers DBS Bank and HSBC.
Hong Kong
Syndication of Eva Precision Industrial HoldingsÆ HK$120 million multi-tranche fundraising has been completed. Signing will be held next month.
Coordinating arrangers DBS Bank and HSBC held HK$30 million apiece while lead managers Citic Ka Wah Bank lent HK$20 million, Maybank and United Overseas Bank each took HK$15 million and Cathay United Bank provided HK$10 million.
Hang Fung JewelleryÆs HK$500 million three year term loan was signed on March 16. The facility met with a strong response and was increased from HK$300 million.
Mandated coordinating arranger HSBC held HK$45 million. Arrangers include Bangkok Bank lending HK$40 million, Korea Exchange Bank committing HK$36 million and Maybank and State Bank of India providing HK$35 million apiece.
Joining as lead managers are Bank Negara Indonesia contributing HK$34 million and Cathay United Bank and ICBC Asia each taking HK$26 million. Senior managers are Industrial & Commercial International Capital and Taiwan Business Bank pledging HK$23 million apiece, Sumitomo Mitsui Banking Corp absorbing HK$22 million, Allied Banking Corp, Banca di Roma, Bank of China, Bumiputra-Commerce Bank, EnTie Commercial Bank, E-Sun Commercial Bank and Taishin International Bank lending HK$20 million apiece and Chang Hwa Commercial Bank with a ticket of HK$15 million.
Lenovo GroupÆs $400 million five year revolving term credit was signed on Monday, March 13. The syndicate comprises a total of 20 banks including mandated lead arrangers ABN AMRO, BNP Paribas, Citigroup, HSBC, ICBC Asia and Standard Chartered Bank.
A HK$502.5 million two year financing for Macquarie Goodman has been completed via mandated arranger Citigroup. Signing was held on March 8.
Participating banks include Citic Ka Wah Bank, Wing Hang Bank and Industrial & Commercial Bank of China. Proceeds are to finance the acquisition of property.
A HK$780 million three year term loan for Pacific Textiles was inked on Wednesday. Citigroup, BNP Paribas, Hang Seng Bank and HSH Nordbank are the mandated lead arrangers.
Arrangers are Bank of Communications, Bank of East Asia, Bank of Tokyo-Mitsubishi UFJ, DBS Bank, Malayan Banking and Sumitomo Mitsui Banking Corp. Senior managers include Mizuho Corporate Bank, BBVA, ICBC Asia and Hua Nan Commercial Bank.
Shun Tak Finance InternationalÆs five and seven year financing was signed on Tuesday, March 14. The facility was oversubscribed and increased to HK$5 billion from HK$4 billion.
Mandated coordinating arrangers Bank of China (Hong Kong) held HK$470 million, Bank of China (Macau) lent HK$380 million, Bank of Nova Scotia Asia, BayernLB (Hong Kong), BNP Paribas (Hong Kong), CCB International Finance, Calyon, HSBC and ICBC Asia each took HK$330 million and Citic Ka Wah Bank, Liu Chong Hing Bank and Sumitomo Mitsui Banking Corp provided HK$250 million apiece.
WestLB joined as an arranger with a commitment of HK$250 million while Mizuho Corporate Bank and Wing Lung Bank took the title of lead managers with HK$180 million each. Senior managers include Nanyang Commercial Bank committing HK$150 million, Tai Fung Bank pledging HK$100 million, Citic Ka Wah Bank (Macau) lending HK$80 million and Hua Nan Commercial Bank (Hong Kong) and Maybank (Hong Kong) with tickets of HK$75 million each.
After an enthusiastic response in syndication, Sun Hung Kai PropertiesÆ five year dual tranche facility has been increased to HK$12 billion from HK$11.4 billion. Signing will be held on March 22.
Coordinating arrangers are Bank of China (Hong Kong) lending HK$1.1 billion, Fortis Bank, HSBC, Mizuho Corporate Bank, Standard Chartered Bank (Hong Kong) and Sumitomo Mitsui Banking Corp holding HK$1 billion apiece, ICBC Asia providing HK$900 million, Bank of Tokyo-Mitsubishi UFJ taking HK$850 million and Bank of East Asia, Calyon and DBS Bank committing HK$500 million each. Also at the top are BayernLB (Hong Kong) contributing HK$450 million and Agricultural Bank of China (Hong Kong), Bank of Communications (Hong Kong), China Construction Bank (Hong Kong), Citigroup and Wing Lung Bank pledging HK$300 apiece.
Joining as co-arrangers are Rabobank International (Hong Kong) and Sumitomo Trust & Banking (Singapore) lending HK$250 million each and Banca Intesa (Hong Kong) and Nanyang Commercial Bank with tickets of HK$100 million apiece.
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