|Chennai||Rs. 24470.00 (1.37%)|
|Mumbai||Rs. 24900.00 (0.97%)|
|Delhi||Rs. 24200.00 (1.26%)|
|Kolkata||Rs. 24160.00 (0%)|
|Kerala||Rs. 24000.00 (0.63%)|
|Bangalore||Rs. 23800.00 (0%)|
|Hyderabad||Rs. 24140.00 (1.17%)|
The around US$1.5bn-equivalent facility for Reliance Industries Ltd (RIL) is being signed by a total of 28 banks via circulation, according to sources.
Of the 16 mandated lead arrangers and bookrunners, State Bank of India holds about US$396.2m (US$78.8m on tranche A, US$317.3m on tranche B).
Bank of Tokyo-Mitsubishi UFJ, Mizuho Corporate Bank and Standard Chartered Bank each hold US$84.6m (US$47.3m on tranche A, US$37.3m on tranche B).
Sumitomo Mitsui Banking Corp took US$84.6m-equivalent in yen (US$47.3m on tranche A, US$37.3m-equivalent on tranche B).
The remaining MLABs -- ANZ, Bank of America Merrill Lynch, Bank of Nova Scotia, Barclays, Credit Agricole CIB, DBS Bank, DNB Bank, HSBC, National Australia Bank, RBS and Westpac Banking Corp -- each held US$47.3m on tranche A.
Joining as MLAs are Commonwealth Bank of Australia, which took US$50m on tranche A, and Export Development Canada, which took US$25m on tranche A and US$25m on tranche B.
Sumitomo Mitsui Trust Bank came in as co-arranger, with US$16.7m-equivalent in yen on tranche A and US$8.3m-equivalent in yen on tranche B.
Joining as lead arranger is Bank of East Asia, with US$40m (via its Singapore and New York branches).
Eight banks joined tranche A, with the title of lead manager: National Bank of Kuwait (US$15m), Chinatrust Commercial Bank (US$10m), First Commercial Bank (US$10m), Hua Nan Commercial Bank (US$10m), Mega International Commercial Bank (US$10m), Taiwan Business Bank (US$10m), Taiwan Cooperative Commercial Bank (US$10m) and Cathay United Bank (US$5m).
As previously reported, the unsecured underwritten bullet loan comprises a US$1bn tranche A and a US$500m tranche B. Tranche A has an average life of 5.5 years and a tenor of five years from the weighted average drawdown date, while tranche B has an average life of 6.75 years and a tenor of six years from the weighted average drawdown date.
Tranche A pays margins of 220bp over Libor for US$ and 150bp over YEN Libor for Yen. Tranche B pays margins of 240bp over Libor for US$ and 170bp over YEN Libor for YEN . There is a 12-month availability period and a 40bp commitment fee.
Banks were invited to commit either US$ or YEN to one or both tranches, at four ticket levels. Tranche A offered top-level all-ins of 245bp and 175bp for US$ and Yen, respectively. Tranche B offered top-level all-ins of 265bp and 195bp for US$ and Yen, respectively.
Funds are for capital expenditure.