Assignment Questions

1. How should Chase have bid in the frst round competition to lead the HK$3.3
billion Disneland fnancing!
". As Disne would ou sign the standard commitment letter! #hich parts
might concern ou and wh! As Chase$ which parts are ou willing to alter or
remove!
3. #hat sndication strateg would ou recommend %or the loan! &hin' in terms
o% the number o% tiers$ commitments and %ees %or each tier$ nationalit and
number o% ban's$ fnal hold positions$ sub(underwriting vs. general
sndication$ etc)
*. How do these si+ di,erent sndication strategies a,ect the ris's and returns
Chase might %ace as the lead arranger!
&itles Hold
amount
HK$mil.
-ndication strateg ./o o% ban's0
11.2+.
3a0
1".2+.
3b0
13.2+.
3c0
1* 14 15
Chase.Coordina
ting Arranger0
$366 1 1 1 1 1 1
7ther
mandated lead
arranger
$366 6 " 6 6 6 "
8ead(
Arrangers.-ub(
9nderwriters0
$366 * 6 6 6 6 3
Arrangers $"46 * * * 1" 6 *
Co(arrangers $146 * 5 3 6 6 "
8ead managers $166 " 4 3 6 36 "
&otal number o%
ban's
15 18 21 13 31 14