ASIA-PACIFIC

摘要

Shanghai jin jiang international hotels (group) has signed a US$250m three-year term loan from five banks. Standard Chartered, the original mandated lead arranger and bookrunner, prefunded the deal on November 17 and ended up with US$75m after a limited syndication closed on Jan. 2. ANZ joined to share the MLAB title with US$50m. China Construction Bank, ICBC (Asia) and Shanghai Pudong Development Bank came in as MLAs, equally splitting the remaining US$125m. The facility pays a margin of 250bp over Libor. Funds are for general corporate purposes and to back the borrower's private placement of shares in Shanghai-listed subsidiary Shanghai Jin Jiang International Hotels Development. The borrower obtained approval from authorities for Jin Jiang Hotels Development to do a private placement of 201,277,000 A shares to Hony (Shanghai) Equity Interest Investment Fund Centre and to the company. Hony Investment Fund subscribed to 100,000,000 shares and the company to 101,277,000 shares.