HSBC, RHB Bank, Bumiputra-Commerce Bank and Sumitomo Mitsui Banking Corp have joined arranger Standard Chartered Bank in a US$250mn loan for Malaysia ‘s Binariang Satellite Systems.
The facility has been launched into a limited syndication to accommodate banks that want to participate with smaller portions.
The margin is 175bp over Libor. Fees are set at three tiers: arrangers committing US$25mn or more earn 20bp; co-arrangers with US$15mn-US$24mn earn 22.5bp; lead managers with US$10mn-US$14mn earn 15bp.
Proceeds are to fund the development of Binariang’s third Malaysia East Asia satellite.