The inclement weather in Hong Kong last week certainly did not dampen the enthusiasm of loan syndication teams at Bank of China, HSBC, ICBC, Hang Seng, SG WestLB. Having been mandated to lead arrange a HK$2 billion five-year term loan for Shanghai Industrial Investment Holdings SIIH, they launched the deal into general syndication last Friday. SG is the publicity agent for the transaction. General syndication will close on August 23.
Proceeds from the loan will be used to refinance existing debt and for general funding requirements. A major part of the proceeds will go toward retiring the five-year $300 million exchangeable bonds issued in 1997. Over $100 million of...
