BASIS POINT-HK retailer Peace Mark launches $200 mln loan

HONG KONG, July 31 (Reuters Basis Point) - Peace Mark
(Holdings) Ltd 0304.HK, a Hong Kong-based watch maker and
retailer, is raising the equivalent of $200 million through a
three-year term loan, banking sources said.

Six banks are in the mandated coordinating arranger group:
ABN AMRO Bank, Banc of America Securities Asia, Commonwealth
Bank of Australia, Deutsche Bank, ING Bank and UOB.

Based on an average life of 2.25 years, the facility offers
a top-level all-in of 200 basis points via a 90 bps fee for
commitments of $15 million or more. Banks joining at this level
get the mandated coordinating arranger title.

Two other ticket levels offer all-ins of 195.6 bps and
191.1 bps via fees of 80 bps and 70 bps for commitments of $10
million-$14 million and $5 million-$9 million, respectively.

Banks can commit in either U.S. dollars or Hong Kong
dollars.

Funds, guaranteed by Peace Mark's subsidiaries, are for
refinancing.

In June 2007, the borrower got a HK$1.2 billion ($154
million) financing which paid a top-level all-in of 64.6 bps
based on a weighted average life of 3.2 years.

Peace Mark (Holdings) Ltd Guarantors:

Bensonic International Ltd

Mega Chains (China) Ltd

Peace Mark (BVI) Ltd

Peace Mark Ltd

Peace Mark Distribution & Marketing Ltd

Peace Mark Productions Ltd

PM Co Ltd

World Grade Industries Ltd
Facility type: Term loan
Amount: US$200m-equivalent in US$,
HK$
Maturity: 3 years (1.5 years' grace)
Margin: 160bp over Libor/Hibor
Repayment: 4 semi-annual equal
instalments
Mandated coord' arrangement fee: 90bp for US$15m or more
Coord' arrangement fee: 80bp for US$10-14m
Arrangement fee: 70bp for US$5-9m
Mandated coord' arrangers: ABN AMRO Bank

Banc of America Securities
Asia

Commonwealth Bank of
Australia

Deutsche Bank

ING Bank

UOB
Status: In process
(Reporting by Jacqueline Poh; Editing by Kim Coghill)
(jacqueline.poh@thomsonreuters.com; +852 2912-6613)