Lee & Man Paper said to have signed HK$3.5B loan with 20 banks on Dec. 21; loan is divided into parts that have either Hong Kong or U.S. dollars

Sandy Yang

LOS ANGELES , December 22, 2011 (Industry Intelligence) –

Lee & Man Paper Manufacturing Ltd. put its signature to a loan totaling HK$3.5 billion (US$450 million) on Dec. 21, according to two people with knowledge of the loan, reported Bloomberg News on Dec. 21.

The amount of the loan, which is allocated over 20 banks, was increased from the previous total of HK$2.5 million, said the people, who asked not to be identified because of the confidential nature of the matter.

The loan is divided into parts that are either in Hong Kong or U.S. dollars, according to the allocation letter seen by Bloomberg, the news service reported.

Bookrunners and mandated lead arrangers Hang Seng Bank Ltd., Mizuho Corporate Bank Ltd., HSBC Holdings PLC, and Standard Chartered PLC, committed US$73 million, HK$450 million, HK$400 million and HK$380 million respectively, according to the document.

Joining as a mandated lead arranger is the Bank of Tokyo-Mitsubishi UFJ Ltd., which committed US$38.46 million. The rest of the loan is spread among 15 other banks, according to the people, reported Bloomberg News.

The primary source of this article is Bloomberg News, New York, New York, on Dec. 21, 2011.
 

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.