IFR 03.7.2020

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

)LIMû'ROUPûHASûTHREEûPULPûANDûPAPERûMILLSû
INû2USSIA ûWHICHûPRODUCEûMOREûTHANûûOFû
ALLûDOMESTICALLYûPRODUCEDûMARKETûPULP ûû
OFûBOARD ûANDûûOFûPAPER
)Nû û)LIMû'ROUPSûPARENTû)LIMû3!û
BECAMEûAûûJOINTûVENTUREûBETWEENû
2USSIANûSHAREHOLDERSûANDûSTRATEGICûPARTNERû
)NTERNATIONALû0APER ûTHEûWORLDSûLARGESTûPULPû
ANDûPAPERûCOMPANYûBYûREVENUE ûWHICHûISû
RATEDû"AA"""ûBYû-OODYSûANDû30

SAUDI ARABIA


FAWAZ ABDULAZIZ ALHOKAIR TAPS

Retail group FAWAZ ABDULAZIZ ALHOKAIR has
SIGNEDûAû53MûlNANCINGûFACILITYûWITHûAû
GROUPûOFûLOCALûBANKS
4HEûLOANûISûDIVIDEDûBETWEENûAûSEVEN
YEARû
)SLAMICûTERMû-URABAHAûFACILITY ûWHICHûHASûAû
ONE
YEARûGRACEûPERIOD ûANDûAûTHREE
YEARû
REVOLVINGûCREDITûFACILITY
4HEûBANKûGROUPûINCLUDESûAl Rajhi Banking
and Investment Corp ûNational Commercial Bank û
Samba Financial Group ûArab National Bank û
Mashreqbank ANDûAbu Dhabi Islamic Bank
4HEû-URABAHAûTERMûFACILITYûWILLûBEûUSEDû
REPAYûDEBTûANDûTHEû2#&ûWILLûBEûUSEDûFORû
GENERALûCORPORATEûANDûWORKINGûCAPITALû
PURPOSES
The company was last in the loan market
INû-AYûûWHENûITûRAISEDûAû32BNû
53M û)SLAMICûLOANû4HEûLEADûARRANGERSû
ONûTHATûDEALûWEREû!BUû$HABIû)SLAMICû"ANK û
.ATIONALû#OMMERCIALû"ANKûANDû3AMBAû
&INANCIALû'ROUP

TURKEY


AKBANK RETURNS WITH US$600m LOAN

AKBANKûISûRAISINGûAû53M
EQUIVALENTû
DAYûDUAL
CURRENCYûLOAN ûRETURNINGûTOûTHEû
SYNDICATEDûLOANSûMARKETûAFTERûlVEûMONTHS
Abu Dhabi Commercial Bank ûBank of America û
Emirates NBD ûICBC ANDûStandard Chartered
Bank AREûCOORDINATORSûANDûBOOKRUNNERSûOFû
THEûLATESTûBORROWING ûWHICHûCOMPRISESûAû53û
DOLLARûTRANCHEû!ûANDûEUROûTRANCHEû"
4HEû53ûDOLLARûPORTIONûOFFERSûANûINTERESTû
MARGINûOFûBPûOVERû,IBOR ûWHILEûTHEûEUROû
TRANCHEûOFFERSûBPûOVERû%URIBOR
-,!SûRECEIVEûAûTOP
LEVELûUPFRONTûFEEûOFû
BPûFORûCOMMITMENTSûOFû53MûANDû
ABOVEûFORûTRANCHEû!ûORûõMûANDûABOVEûFORû
TRANCHEû" ûWHILEûLEADûARRANGERSûEARNûAûBPû
FEEûFORûTICKETSûOFû53MnMûORû
õMnõMû!RRANGERSûRECEIVEûAûBPûFEEû
FORûTICKETSûBELOWû53ûORûBELOWûõM
0ROCEEDSûWILLûRElNANCEûAû53M
EQUIVALENTûONE
YEARûLOANûRAISEDûINû-ARCHû
û"/! û%MIRATESû."$ û)#"#ûANDû
3TAN#HARTûWEREûTHEûCOORDINATORSûOFûTHATû

TRANSACTIONûWHICHûOFFEREDûALL
INûPRICINGûOFû
BPûOVERû,IBORûFORûTHEûDOLLARûTRANCHEûANDû
BPûOVERû%URIBORûFORûTHEûEUROûTRANCHEû
)Nû/CTOBER û!KBANKûRAISEDûAû53M
EQUIVALENTû
DAYûTERMûLOANû4HATû
DUAL
CURRENCYûLOANûCOMPRISINGûAû53Mû
PORTIONûANDûõMûPIECE ûOFFEREDûALL
INSûOFû
BPûOVERû,IBORûANDûBPûOVERû%URIBOR û
RESPECTIVELY

UK


INTERTEK NETS REFINANCING

Testing company INTERTEKûHASûSIGNEDûANû
53MûlVE
YEARûREVOLVINGûCREDITûFACILITY û
REPLACINGûITSû53MûFACILITYûTHATûWASûDUEû
TOûMATUREûBETWEENû*UNEûûANDû*ULYû
4HEûlNANCINGûFEATURESûAûSMALLERûBANKûGROUPû
WITHûNEWûANDûEXISTINGûLENDERSûPARTICIPATING
Bank of America ûBank of China ûBNP Paribas û
CIC ûHSBC ANDûSMBC AREûBOOKRUNNERSûANDû
MANDATEDûLEADûARRANGERSûONûTHEûFACILITY û
while MUFG ANDûStandard Chartered are
MANDATEDûLEADûARRANGERS
4HEûPREVIOUSûFACILITYûWASûAMENDEDûANDû
EXTENDEDûINû ûINCREASINGûTHEûFACILITYûBYû
53MûTOû53MûANDûEXTENDINGûTHEû
MATURITYûTOû*UNEûûFROMû-ARCHûûANDû
ADDINGûTWOûONE
YEARûEXTENSIONûOPTIONS
!.: û"OF! û"ANKûOFû#HINA û"ARCLAYS û#)# û
$EUTSCHEû"ANK û(3"#ûANDû2OYALû"ANKûOFû
3COTLANDûWEREûBOOKRUNNERSûANDûMANDATEDû
LEADûARRANGERSûINûTHEûlNANCING
$ANSKEû"ANKûANDû3-"#ûALSOûPARTICIPATED
)NûûTHEûFACILITYûWASûEXTENDEDûTOû*UNEû
ûANDûTHENûINûû53MûOFûTHEû
FACILITYûWASûEXTENDEDûTOû*ULYû

NORTH AMERICA


UNITED STATES


GM LAUNCHES US$16.5bn REFI

GENERAL MOTORS is in the market with a
53BNûRElNANCING
4HEûTRANSACTIONûWASûLAUNCHEDû4HURSDAYû
INû$ETROITûVIAûJP Morgan ANDûCitigroup
4HEûFACILITYûCOMPRISESûAû53BNû
DAYû
REVOLVINGûCREDIT ûAû53BNûTHREE
YEARû
REVOLVINGûCREDITûANDûAû53BNûlVE
YEARû
REVOLVINGûCREDITûFACILITYû
4HEû
DAYûPAYSûBPûUNDRAWN ûWHILEû
THEûTHREE
YEARûPAYSûBPûUNDRAWNûANDûTHEû
lVE
YEARûPAYSûBPû4HEûDRAWNûMARGINûONû
THEûTHREEûFACILITIESûISûBPûOVERû,IBOR
4HEûLOANSûRElNANCEûEXISTINGûCREDITû
FACILITIESûOFûTHEûSAMEûSIZEûWITHOUTûAûCHANGEû
INûPRICING

!û53BNûFACILITYûWHICHûTHEûCOMPANYû
SIGNEDûINû*ANUARYûûWILLûREMAINû
UNCHANGED

THERMO FISHER TAPS BRIDGE

THERMO FISHER SCIENTIFIC is backing its
53BNûCASHûOFFERûFORû'ERMANûGENETICû
testing company Qiagen with a fully
COMMITTEDûBRIDGEûLOAN
0ERMANENTûFUNDINGûFORûTHEûACQUISITIONûISû
EXPECTEDûTOûCOMEûFROMûCASHûONûHANDûANDû
NEWûDEBT
4HERMOû&ISHERûISûOFFERINGûõûINûCASHûPERû
1IAGENûSHAREûANDûWILLûASSUMEû53BNûOFû
DEBT
4HEûACQUISITIONûISûEXPECTEDûTOûCLOSEûINûTHEû
lRSTûHALFûOFû
0ROûFORMAûLEVERAGEûATûCLOSEûISûEXPECTEDûTOû
BEûAROUNDûûTIMES ûBUTûTHEûCOMPANYû
EXPECTSûTOûMAINTAINûANûINVESTMENT
GRADEû
RATING
4HERMOû&ISHERûISûRATEDû""" ûBYû30 û"AAû
BYû-OODYSûANDû"""ûBYû&ITCH
JP Morgan ANDûMorgan StanleyûAREûADVISING

ARCONIC AMENDS AND EXTENDS

!LUMINIUMûANDûMETALSûENGINEERINGûANDû
manufacturing company ARCONICûHASûSIGNEDû
ANûAMENDEDûANDûEXTENDEDû53BNûlVE
YEARûREVOLVINGûCREDIT
Citigroup ISûTHEûADMINISTRATIVEûAGENTûONû
THEûDEALûJP Morgan ISûTHEûSYNDICATIONûAGENTû
ANDûGoldman Sachs ISûTHEûDOCUMENTATIONû
AGENT
/THERûLENDERSûAREûABN AMRO ûBMO ûBNP
Paribas ûCredit Suisse ûFifth Third Bank ûIntesa
Sanpaolo ûMizuho, Morgan Stanley ûMUFG ûPNC û
SMBC ûTD Bank ûTruist Bank ûUS Bank ûCitizens
Bank
ING ûScotiabank ûHuntington National Bank û
Banco Bradesco ûM&T Bank ûNomura ûRiyad Bank û
Standard Chartered ûBNY Mellon ANDûWestpac
4HEûDEALSûAMENDSûANûEXISTINGûLOANûTHATû
WASûAGREEDûINû*UNEû

AMERICAS LOANS BOOKRUNNERS – FULLY
SYNDICATED VOLUME
BOOKRUNNERS: 1/1/2020 TO DATE
Managing No of Total Share
bank or group issues US$(m) (%)

Proportional credit
Source: Refinitiv SDC code: R7

1 BofA 133 35,094.12 11.5
2 JP Morgan 111 32,698.25 10.7
3 Citigroup 81 31,010.62 10.2
4 Wells Fargo 87 23,086.64 7.6
5 Credit Suisse 52 17,644.35 5.8
6 Goldman Sachs 69 14,072.05 4.6
7 Morgan Stanley 38 12,128.55 4.0
8 RBC 56 10,381.26 3.4
9 Jefferies 31 8,070.35 2.6
10 MUFG 44 8,005.87 2.6
Total 417 304,667.27

9 IFR Loans 2323 p 63 - 76 .indd 68 06 / 03 / 2020 19 : 19 : 51

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