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Hong Kong Loan Syndication Details

1) Chase was the coordinating arranger and had a joint mandate with two other mandated lead arrangers to underwrite a $3.3 billion loan. 2) The loan was underwritten by a total of 18 banks, with Chase and the two other mandated lead arrangers committing $1.1 billion each. 3) Total closing fee income available was 0.7% of the loan amount, with Chase and the other two mandated lead arrangers each receiving closing fees of $2.1 million.

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ashish chopra
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111 views8 pages

Hong Kong Loan Syndication Details

1) Chase was the coordinating arranger and had a joint mandate with two other mandated lead arrangers to underwrite a $3.3 billion loan. 2) The loan was underwritten by a total of 18 banks, with Chase and the two other mandated lead arrangers committing $1.1 billion each. 3) Total closing fee income available was 0.7% of the loan amount, with Chase and the other two mandated lead arrangers each receiving closing fees of $2.1 million.

Uploaded by

ashish chopra
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Chase with sole mandate; No sub- U/w

Sub-U/W
Initial
Underwriting Individual Sub
Titles No. of Banks Amount U/W Amount
Coordinating Arranger 1 3300
( Mandated lead Arranger)
Lead Arrangers(Sub UW) 0
Arrangers 4
Co-arrangers 8
Lead Managers 8
Total 21

Loan Amount($HK millions) = 3300


Underwriting Fee = 1.25%
Sub-underwriting fee = 0.25%
Top-tier(Arranger) Fee = 0.75%

Initial Underwriting
Commitment Total
Amount commitment
No. of Banks (HK$MM) (HK$MM)
Chase
# Other Mandated Banks
Lead Arangers(Sub UW)
Arrangers
Co-arrangers
Lead Managers
Total

Per Bank Income (HK$' 0

U/W Fees Closing Fees U/W Spread


Chase
# Other Mandated Banks
Lead Arangers(Sub UW)
Arrangers
Co-arrangers
Lead Managers
Total Fees

General Final Final


Syndication Allocation Allocation
Calculation of Pool Income Closing Fees (HK$MM) (HK$MM)
Total Closing Fee Income Available
Total Closing Fee Income Payable
Chase
# Other Mandated Banks
Lead Arangers(Sub UW)
Arrangers
Co-arrangers
Lead Managers

Pool Income (= Total Available- Total Payable)


; No sub- U/w

Sub-U/W General Syndication


Total
Commitmen Individual Percent of
t Allocation Total Amount total
300 300 9.1%

250 1000 30.3%


150 1200 36.4%
100 800 24.2%
3300 100.0%

Mandate = sole
Sub-UW = no
$HK/$US Exchange rate = 7.8
Total U/W Fee($HK millions) =

Sub
Underwritin
g General Syndication
Invitation Total Final Total Allocation
Allocation Amount Commitment Percent Allocation Allocation per Bank
(HK$MM) (HK$MM) (HK$MM) Scaled Back (HK$MM) (HK$MM) (HK$MM)

Per Bank Income (HK$' 000) Total per Bank Total for All Banks
Sub-U/W Closing Fee
Spread Income Pool Income (HK$000) (US$000) (HK$000) (US$000)
Total Closing
Closing Fees Fees All
per Bank Banks(HK$'0
(HK$'000) 00)

tal Payable)
Chase with Joint Mandate; No Sub- U/w

Sub-U/W
Initial
Underwriting Individual Sub
Titles No. of Banks Amount U/W Amount
Coordinating Arranger 3 3300
( Mandated lead Arranger)
Lead Arrangers(Sub UW) 0
Arrangers 4
Co-arrangers 6
Lead Managers 5
Total 18

Loan Amount($HK millions) = 3300


Underwriting Fee = 1.25%
Sub-underwriting fee = 0.25%
Top-tier(Arranger) Fee = 0.70%

Initial Underwriting

Commitment
Amount Total commitment
No. of Banks (HK$MM) (HK$MM)
Chase 1 1100 1100
# Other Mandated Banks 2 1100 2200
Lead Arangers(Sub UW) 0
Arrangers 4
Co-arrangers 6
Lead Managers 5
Total 18

Per Bank Income (HK$'

U/W Fees Closing Fees U/W Spread


Chase 0.30% 0.70% 3300
# Other Mandated Banks 0.30% 0.70% 3300
Lead Arangers(Sub UW)
Arrangers 0.70%
Co-arrangers 0.60%
Lead Managers 0.50%
Total Fees

General
Syndication Final Allocation Closing Fees per
Calculation of Pool Income Closing Fees (HK$MM) Bank (HK$'000)
Total Closing Fee Income Available 0.70% 3300
Total Closing Fee Income Payable
Chase 0.70% 300 2100
# Other Mandated Banks 0.70% 300 2100
Lead Arangers(Sub UW) 0 0
Arrangers 0.70% 250 1750
Co-arrangers 0.60% 150 900
Lead Managers 0.50% 100 500

Pool Income (= Total Available- Total Payable)


ndate; No Sub- U/w

Sub-U/W General Syndication

Total Individual Percent of


Commitment Allocation Total Amount total
300 900 27.3%

250 1000 30.3%


150 900 27.3%
100 500 15.2%
3300 100.0%

Mandate =
Sub-UW =
$HK/$US Exchange rate = 7.8
Total U/W Fee($HK millions) =

Sub
Underwriting General Syndication

Invitation Total Final Total Allocation


Allocation Amount Commitment Percent Allocation Allocation per Bank
(HK$MM) (HK$MM) (HK$MM) Scaled Back (HK$MM) (HK$MM) (US$MM)
0 1100 0.727272727 300 300 38.46153846
0 2200 300 600

250 1000 0 250 1000


150 900 0 150 900
100 500 0 100 500
3300

Per Bank Income (HK$' 000) Total per Bank Total for All Banks
Closing Fee
Sub-U/W Spread Income Pool Income (HK$000) (US$000) (HK$000) (US$000)
2750 2100 633.33333333 8783.33
2750 2100 633.33333333 8783.33
0.00
1750 1750.00
900 900.00
500 500.00
20716.67

Total Closing
Fees All
Banks(HK$'000)
23100

2100
4200
0
7000
5400
2500
21200
1900
633.33

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