JAPAN

摘要

Netherlands-headquartered agricultural goods firm Louis Dreyfus has launched a ¥40bn (US$368m) Samurai loan into general syndication. Mizuho Bank, MUFG and SMBC are the mandated lead arrangers and bookrunners. MUFG is the agent. The new loan, which carries an accordion option of up to ¥20bn, offers interest margins of 95bp and 110bp over yen Libor for three and five-year tenors, respectively. Banks are invited on two ticket levels. Those joining with ¥3bn or more receive 20bp and 35bp in fees for the three and five-year tranches respectively. Lenders taking less than ¥3bn are offered 10bp and 20bp respectively. The margin on the three-year tranche is the same as the deal being refinanced - a ¥34.3bn three-year Samurai loan completed in June 2019. The same three megabanks arranged the loan, which was oversubscribed and increased from the original ¥30bn target. LDC's Swiss unit, LOUIS DREYFUS SUISSE, is the borrower of the latest deal.