30days
free
Newsletter

Woolworths Increases Loan to A$2b-Equiv. From A$1.2b

CLOSED: Woolworths Increases Loan to A$2b-Equiv. From A$1.2b

(Source: Bloomberg) — The Australian dollar tranches were upsized as 49 banks committed, according to people familiar with the matter, who are not authorized to speak publicly and asked not to be identified.

  • Tranches:
    • (A)A$700m 3Y revolver
    • (B)A$965m 5.5Y revolver
    • (C)$260m 5.5Y term loan
  • Allocations:
    • MLAs:
      • ANZ: (A)A$11m (B)A$14m
      • CBA: (A)A$11m (B)A$14m
      • NAB: (A)A$11m (B)A$14m
      • Westpac: (A)A$11m (B)A$14m
    • Lenders:
      • BOC Sydney/H.K./Macau: (A)A$72m (B)A$100m (C)$7m
      • CCB: (A)A$48m (B)A$72m
      • BTMU: (A)A$42m (B)A$58m
      • China Agbank: (A)A$42m (B)A$58m
      • DBS: (A)A$42m (B)A$58m
      • ICBC: (A)A$42m (B)A$58m
      • Mizuho: (A)A$42m (B)A$58m
      • Rabo: (A)A$42m (B)A$58m
      • BoComm/Bocomm Tokyo: (A)A$28m (B)A$42m (C)$14m
      • BofAML: (A)A$33m (B)A$47m
      • Citi: (A)A$29m (B)A$41m
      • SMBC: (A)A$29m (B)A$41m
      • SBI Sydney/Singapore: (A)A$21m (B)A$29m (C)$9m
      • BNP Sydney: (A)A$18m (B)A$27m
      • CIC Singapore: (A)A$15m (B)A$25m
      • Mega Intl: (A)A$8m (B)A$15m (C)$11m
      • BEA: (A)A$13m (C)$14m
      • KEB Hana: (A)A$12m (B)A$18m
      • E Sun OBU: (A)A$12m (B)A$18m
      • Metrics Credit Partners: (A)A$12m (B)A$18m
      • Taishin Intl: (A)A$12m (B)A$18m
      • Taiwan Business Sydney/OBU: (A)A$6m (B)A$10m (C)$9m
      • Hua Nan Sydney: (A)A$7m (B)A$12m (C)$5m
      • KDB/KDB Singapore: (C)$24m
      • Shinsei Bank: (C)$21m
      • Taiwan Cooperative: (B)A$13m (C)$6m
      • Bank of Taiwan: (C)$14m
      • Chang Hwa: (C)$14m
      • Nomura Trust: (C)$14m
      • Sumitomo Mitsui Trust: (C)$14m
      • Shanghai Commercial & Savings OBU: (A)A$8m (C)$7m
      • CTBC: (A)A$6m (B)A$9m
      • Woori: (A)A$15m
      • Taichung Commercial: (C)$11m
      • Nishi-Nippon City Bank: (C)$9m
      • 77 Bank: (C)$9m
      • Bank of Kaohsiung OBU: (C)$7m
      • Bank Sinopac: (C)$7m
      • Chugoku Bank: (C)$7m
      • Land Bank of Taiwan: (C)$7m
      • Eastspring Investments Singapore: (C)$5m
      • Iyo Bank: (C)$5m
      • Minato Bank: (C)$5m
      • Taiwan Shin Kong Commercial: (C)$5m
      • First Commercial: (B)A$6m
  • Co. received more than A$3b commitments
  • Signing and first drawn down expected this wk
  • Information from people familiar with the matter, who are not authorized to speak publicly and asked not to be identified

 

LAUNCH: Woolworths Syndicates A$1.2b Loan Across APAC

(Source: Bloomberg) — Co. assigns ANZ, CBA, NAB, Westpac to lead dual-currency financing.

  • Tranches:
    • (A) A$360m 3Y revolver
    • (B) A$480m 5.5Y revolver
    • (C) $260m 5.5Y term loan
  • Margin:
    • (A) BBSY+130
    • (B, C) BBSY/L+160
  • Upfront fees:
    • A$150m: (A) 40bps (B, C) 60bps
    • A$100m-A$149m: (A) 35bps (B, C) 55bps
    • A$75m-A$99m: (A) 30bps (B, C) 50bps
    • A$50m-A$74m: (A) 25bps (B, C) 45bps
    • A$30m-A$49m: (A) 20bps (B, C) 40bps
  • Commitment fee: (A, B) 40% of margin
  • Roadshows:
    • March 14 in Sydney
    • March 15 in Singapore
    • March 16 in Hong Kong
    • March 17 in Taipei
    • March 18 in Tokyo
  • Commitments due April 7
  • UOP: Refinancing, GCP
  • Co. has A$600m revolver due Oct. 2019, A$400m guaranteed facility due Aug. 2018, according to Bloomberg data
  • Information from people familiar with the matter, who are not authorized to speak publicly and asked not to be identified
  • Ratings: Baa2/BBB+/-
  • Co. downgraded by Moody’s to Baa2 from Baa1 early this mo.