Austar United Communications has short-listed seven banks to lead arrange a A$600 million loan. The banks include ANZ Investment Bank, BNP Paribas, Calyon, Commonwealth Bank of Australia, ING Bank, JP Morgan and National Australia Bank. Proceeds are to refinance an existing A$290 million facility that was signed in October 2004 and led by Deutsche Bank and JP Morgan. A formal mandate is expected to be announced soon.
A A$60 million five year management buyout facility for MichelÆs Group Australia was signed on April 28. ANZ led the financing while Rothschild and St George joined as lead managers. Proceeds are to support the managementÆs acquisition of a 100% stake in MichelÆs Patisserie.
Millmerran Power PartnersÆ A$1.025 billion multi-tranche facility is signing today (Friday) with a total of eleven banks participating. The facility consists of a five year A$90m revolver and six and 12 year term loans of A$467.5 million each. Proceeds are to repay existing debt.
Mandated lead arrangers are ANZ Investment Bank and Mizuho Corporate Bank lending A$100 million each, Banca Intesa, Calyon, RBS Australia, Sumitomo Mitsui Banking Corp, United Overseas Bank and WestLB providing A$97.5 million each, Fortis Bank offering A$90 million, and HSBC and KBC Bank committing A$75 million apiece.
China
Air ChinaÆs $550 million 10 year aircraft financing was inked on May 11. A total of 15 banks are participating in the transaction.
The loan is split into a $447 million tranche that will fund the purchase of five Airbus A319-100 and six Airbus A330-200 commercial aircraft and a $103 million portion to finance three Boeing B737-700 airliners.
For the Airbus tranche, bookrunner DBS Bank (Hong Kong) held $100 million while coordinating arrangers Bank of China (Hong Kong) and China Development Bank lent $70 million each and Bank of Tokyo-Mitsubishi UFJ took $42 million.
Joining as arrangers are Bank of Communications (New York) and HSBC France lending $32.5 million apiece while co-arrangers with commitments of $20 million each include Agricultural Bank of China (Hong Kong), China Construction Bank (Singapore), Malayan Banking, Shanghai Commercial & Savings Bank (Offshore Banking) and Sumitomo Trust & Banking (Singapore).
For the Boeing tranche, DBS Bank (Hong Kong) held $28 million and arrangers Arab Bank (Singapore), Bank of Tokyo-Mitsubishi UFJ and WestLB (Shanghai) had tickets of $25 million apiece.
China Development BankÆs $700 million fundraising was signed on May 10. A total of 20 lenders joined bookrunner HSBC in syndication.
Coordinating arrangers HSBC held $60 million and Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Calyon, DBS Bank, ING Bank, Mizuho Corporate Bank and Sumitomo Mitsui Banking Corp lent $50 million apiece. Arrangers include Bank of China (Hong Kong) committing $40 million, WestLB providing $35 million, Bank of Montreal, China CITIC Bank and United Overseas Bank contributing $30 million each and BayernLB and KBC Bank lending $25 million apiece.
Joining as co-arrangers are Sanpaolo IMI taking $20 million and Oversea-Chinese Banking Corp with a ticket of $15 million. Bangkok Bank, Bank of China, Wing Lung Bank and Yamaguchi Bank took the title of senior manager with holds of $10 million each.
A Rmb400 million five year loan for Xiamen SM City and SM Shopping Centre (Chengdu) has so far received at least three commitments in syndication. Standard Chartered Bank is leading the deal.
The facility is split into a Rmb100 million tranche for Xiamen SM City and a Rmb300 million portion for SM Shopping Centre (Chengdu). Banks have been invited to join with commitments of Rmb135 million to be split pro-rata across the two tranches.
Hong Kong
Allocations for Citic PacificÆs HK$7.2 billion dual-tranche loan have been finalised. Mandated arrangers Agricultural Bank of China (Hong Kong), Bank of China (Hong Kong), Bank of Communications (Hong Kong), Bank of Tokyo-Mitsubishi UFJ, BayernLB (Hong Kong), BNP Paribas, Calyon, CITIC Ka Wah Bank, Citigroup, DBS Bank, Hang Seng Bank, HSBC, ICBC Asia, Mizuho Corporate Bank, Rabobank International (Hong Kong), Royal Bank of Scotland, Standard Chartered Bank (Hong Kong) and Sumitomo Mitsui Banking Corp committed HK$376.67 million each.
Senior manger Tai Fung Bank pledged HK$120 million while Bank of East Asia, Liu Chong Hing Bank and Wing Lung Bank lent HK$100 million each. Signing was held on April 27.
Foxhill InvestmentsÆ HK$1.6 billion three year facility has reached financial close. More than five banks joined mandated lead arranger Standard Chartered Bank in syndication. Proceeds are to finance Macquarie Global Property AdvisorsÆ acquisition of Vicwood Plaza from Morgan Stanley. The deal was funded in March.
A HK$350 million three year term loan for Gold Peak Industries is progressing in syndication. China Construction Bank and HSBC are leading the deal.
The facility carries a margin of 66bp over Hibor and banks have been invited to participate on three tiers. Arrangers committing HK$40 million or more gain a front-end fee of 65bp, senior managers providing HK$30 million to HK$39 million gain 60bp and managers with tickets of HK$20 million to HK$29 million receive 55bp.
Proceeds are to refinance existing debt and to provide for general corporate requirements. Bank responses are due towards the end of the month.
Syndication of Ocean ParkÆs HK$4.16 billion 15 year dual tranche fundraising has been completed. Bank of China, DBS Bank and HSBC are the mandated lead arrangers and allocations are being finalised.
The HK$3.5 billion five year term loan for Shanghai Industrial Investment Holdings (SIIC) is progressing in syndication with banks expected to revert next Monday.
The deal carries a margin of 35bp over Hibor and banks have been invited to join on three levels. Coordinating arrangers providing HK$180 million or above earn 35bp, arrangers committing HK$125 million to HK$175 million receive 25bp and senior mangers contributing HK$75 million to HK$120 million get 15bp.
Proceeds will be used to refinance a $300 million facility signed in October 2001. That facility featured a margin of 72.5bp over Libor and was increased from $250 million.
Sun Hung Kai REITÆs HK$3.1 billion five year dual-tranche loan, now known as Sun Millennium REIT, is expected to close as a club. Bank of China, Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Calyon, HSBC, Mizuho Corporate Bank and Sumitomo Mitsui Banking Corp are the mandated lead arrangers. The deal is split into a HK$3 billion term facility and a HK$100 million revolver, both offering a spread of 44bp over Hibor. Proceeds will be used for the acquisition of real estate.
Mandated arrangers ABN AMRO and Deutsche Bank have launched Xinhua FinanceÆs $80 million five year term loan into syndication. The deal is priced at 275bp over Libor and fees to the market are on two levels. Banks joining as arrangers providing $10 million or above earn 85bp for a top level all-in of 292bp. Those joining as co-arrangers with $5 million to $9 million receive 65bp for an all-in of 288bp. Proceeds are for working capital requirements and acquisition purposes. Bank responses are due by May 26.
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