General syndication was launched last week for the American International Credit Card NT$8 billion $238 million facility. HSBC, BNP Paribas, Bank of Taiwan and Chang Hwa Commercial Bank are the mandated arrangers for the deal. Hua Nan Commercial Bank was invited to join on the top level as coordinating arranger, while Credit Lyonnais Taiwan has joined as an arranger. Signing of the loan is scheduled for the first week of August.
The facility comprises of a NT$4.5 billion loan and a NT$3.5 billion note issuance guarantee facility. The loan pays a spread of 82.5bp over the secondary CP fixing rate. The six-month secondary CP fixing rate as of last week was...
