IFR 03.7.2020

(Ann) #1
66 International Financing Review March 7 2020

4HEûLOANûOFFEREDûANûALL
INûPRICINGûOFûABOUTû
BPû
0ROCEEDSûWILLûRElNANCEûAû(+BNûFOUR
YEARûTERMûLOAN ûWHICHûWASûPARTûOFûAû
(+BNûCLUBûFACILITYûTHEûBORROWERûOBTAINEDû
INû*ANUARYûûFROMûûLENDERS
4HATûDEALûPAIDûANûINTERESTûMARGINûINûTHEû
LOWûS
(ONGû+ONG
LISTEDû+ERRYû0ROPERTIESû
DEVELOPSûREALûESTATEûPROJECTSûINû#HINAûANDû
(ONGû+ONG

INDIA


RELIANCE LOAN INTO SENIOR

Conglomerate RELIANCE INDUSTRIESûISûEXPECTEDû
TOûIMMINENTLYûLAUNCHûITSû5BNûDUAL
CURRENCYûlNANCINGûINTOûSENIORûSYNDICATION
4HEûlNANCINGûINCLUDESûAû53BNûLOANû
ANDûAû53M
EQUIVALENTûYEN
DENOMINATEDûPORTIONû4HEû53ûDOLLARûANDûYENû
TRANCHESûCARRYûTENORSûOFûûANDûlVEûYEARS û
RESPECTIVELY
2),ûHASûMANDATEDûûBANKSûONûTHEû53û
DOLLARûPIECEûnûANZ, Bank of America, Barclays,
BNP Paribas, Citigroup, DBS Bank, First Abu
Dhabi Bank, HSBC, Scotiabank, Standard
Chartered Bank, State Bank of IndiaûANDûUnited
Overseas Bank
Credit Agricole CIB, Mizuho Bank, MUFG ANDû
SMBCûAREûMANDATEDûONûTHEûYENûTRANCHE
!ROUNDû53BNûOFûTHEûNEWûLOANûWILLû
RElNANCEûTWOûEXISTINGûFACILITIESûnûAû
53Mû
YEARûCLUBûLOANûSIGNEDûINû
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COMPLETEDûINû-ARCHûTHATûYEAR
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!PRILûû4HEûLATTERûOFFEREDûAûTOPûLEVELûALL
INûOFû
BPûBASEDûONûANûINTERESTûMARGINûOFûBPû
OVERû,IBORûANDûANûAVERAGEûLIFEûOFûûYEARS
4ENûBANKSûCOMMITTEDûTOûTHEûCLUBûLOAN û
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-ARCHûûBORROWING
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4HEû53BNûPORTIONûCOMPRISEDûTWOû
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cBNûTRANCHE

TVS UNIT MANDATES TRIO

TVS SUPPLY CHAIN SOLUTIONSûAûUNITûOFû
CONGLOMERATEû463û'ROUP ûHASûMANDATEDû
THREEûBANKSûONûAû53MûFACILITY

Axis Bank, DBS Bank ANDûStandard Chartered
AREûTHEûMANDATEDûLEADûARRANGERSûANDû
BOOKRUNNERSûONûTHEûDEAL ûWHICHûCOMPRISESûAû
53MûlVE
YEARûTERMûLOANûANDûAû53Mû
TWO
YEARûREVOLVINGûCREDITûFACILITY
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LIMITEDûSYNDICATION
0ROCEEDSûRAISEDûWILLûRElNANCEûANû
INCREASEDû53M
EQUIVALENTûLOANûSIGNEDû
INû*UNEû
4HATûDEALûWASûINITIALLYûSPLITûINTOûAû
53M
EQUIVALENTûlVE
YEARûTERMûLOANû
&ACILITYû! ûANDûAû53M
EQUIVALENTûTHREE
YEARûREVOLVINGûCREDITûFACILITYû&ACILITYû" û
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,IBOR ûRESPECTIVELYû)TûOFFEREDûTOP
LEVELûALL
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PRICINGûOFûBPûBASEDûONûAûBLENDEDûMARGINû
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&ACILITYû"ûTOûaMû53M 
463û3UPPLYû#HAINû3OLUTIONS ûFORMERLYû
KNOWNûASû463û,OGISTICSû3ERVICES ûISûANû
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PRESENCEûACROSSûûCOUNTRIESûANDûOFlCESûINû
ûCOUNTRIES ûINCLUDINGû)NDIA ûTHEû5+ ûTHEû
53 û%UROPE û!USTRALIAûANDû#HINA

TATA AUTOCOMP UNIT WRAPS REFI

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HASûCLOSEDûSYNDICATIONûFORûAûRElNANCINGûOFû
AROUNDû53M
EQUIVALENT
CTBC Bank, Standard Chartered Bank ANDûState
Bank of India WEREûTHEûMANDATEDûLEADû
ARRANGERSûANDûBOOKRUNNERSûOFûTHEûBORROWINGû
Mandated lead arrangers are Axis UK and SBI
Mauritius. Arranger is Taishin International Bank.
4HEûlNANCINGûCOMPRISESûAû53M
EQUIVALENTûTERMûLOANû&ACILITYû! ûANDûAû
õMû53M ûREVOLVINGûCREDITûFACILITYû
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RYHPEZ HOLDING (SWEDEN ûAûWHOLLYûOWNEDû
SUBSIDIARYûOFû4!#/ ûISûTHEûBORROWER ûWHILEû
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ORûEUROS ûPAIDûAûTOP
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)Nû$ECEMBERû û4!#/ûACQUIREDû4ITAN8û
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AUTOûCOMPONENTSûCOMPANY ûVIAû2YHPEZ
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4RANCHEû! ûAû53M
EQUIVALENTû4RANCHEû"û
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ûYEARS

2YHPEZûHOLDSûûOFûTHEûSHARESûINû
4ITAN8û(OLDINGû3WEDEN û!" ûWHICHûISûTHEû
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4!#/ûISûAûWHOLLYûOWNEDûSUBSIDIARYû
OFû4ATAû'ROUPûANDûTHEûmAGSHIPûENTITYû
for the auto components business of the
GROUP

JAPAN


NORITSU TAPS FOR DJ EQUIPMENT

NORITSU KOKIûISûRAISINGûAûõMûNON
RECOURSEû
LOANûTOûBACKûITSûACQUISITIONûOFûAûMAKERûOFû
SYSTEMSûFORûDISCûJOCKEYSûINû9OKOHAMA
Noritsu’s special purpose company will be
THEûBORROWERûONûTHEûLOAN ûWHICHûWILLû
RElNANCEûEXISTINGûDEBTûATûTHEûTARGET û!LPHAû
4HETA
.ORITSUûISûBUYINGû!LPHAû4HETA û
FORMERLYûKNOWNûASû0IONEERû$* ûFORûcBNû
53M 
#OMPLETIONûOFûTHEûACQUISITIONûISûEXPECTEDû
INû!PRIL
53ûPRIVATEûEQUITYûFUNDû++2ûANDû*APANESEû
electronics giant Pioneer currently own
ûANDûûSTAKESûINû!LPHAû4HETA û
RESPECTIVELY
++2ûBOUGHTûTHEûMAJORITYûSTAKEûINû0IONEERû
$*ûINû-ARCHûûFROMû0IONEERûFORûcBNû)Tû
RAISEDûAûcBNûlNANCINGûTOûBACKûTHEû
LEVERAGEDûBUYOUT

PHILIPPINES


PETRON GETS NINJA DEBUT

/ILûRElNERûPETRONûISûMAKINGûITSûDEBUTûINûTHEû
*APANESEûLOANûMARKETûWITHûAû53M
EQUIVALENTûlVE
YEARû.INJAûBORROWING
Mizuho Bank ûMUFG ûANDûSMBC are the
MANDATEDûLEADûARRANGERSûANDûBOOKRUNNERSû
OFûTHEûLOAN ûWHICHûCARRIESûANûUNSPECIlEDû
GREENSHOEûOPTION
.INJAûLOANSûnûDEALSûSYNDICATEDûINû*APANûFORû
OVERSEASûBORROWERSûnûCANûBEûDENOMINATEDûINû
ANYûCURRENCYûANDûINCLUDEû3AMURAIûLOANS û
WHICHûAREûDISTRIBUTEDûINûTHEûCOUNTRYûANDû
DENOMINATEDûONLYûINûYEN
0ETRONSûLOANûISûAVAILABLEûINûBOTHû53û
DOLLARSûANDûYEN ûANDûPAYSûINTERESTûMARGINSûOFû
BPûOVERû,IBORûANDûBPûOVERûYENû,IBOR û
RESPECTIVELYû4HEûDEALûHASûANûAVERAGEûLIFEûOFû
ûYEARS
&UNDSûAREûFORûRElNANCING
0ETRON ûAûUNITûOFû0HILIPPINEûCONGLOMERATEû
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SOUGHT
AFTERûlVE
YEARûTERMûLOANûINû!PRILûLASTû
YEARûTHATûATTRACTEDûûBANKSûINûGENERALû
SYNDICATION
)TûOFFEREDûAûTOP
LEVELûALL
INûPRICINGûOFû
BPûBASEDûONûAûMARGINûOFûBPûOVERû,IBORû
ANDûHASûANûAVERAGEûLIFEûOFûûYEARS

9 IFR Loans 2323 p 63 - 76 .indd 66 06 / 03 / 2020 19 : 19 : 50

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