China syndicated loan volume at highest YTD level on record
- Shaanxi Yanchang Petroleum (Group) has signed a RMB 15.3 billion facility through sole mandated lead arranger Bank of China. Syndication saw Agricultural Bank of China, Bank of Communications, China CITIC Bank International, China Construction Bank, Industrial & Commercial Bank of China, Industrial Bank, Postal Savings Bank of China, and Shanghai Pudong Development Bank join in as participants.
- This is the largest Oil & Gas sector deal signed in China so far this year, followed by Ningbo Zhongjin Petrochemical’s $986 million facility and Hanbang (Jiangyin) Petrochemical’s $447 million fundraising, both in March 2016.
- China syndicated loans volume totals $156.6 billion in 2016 YTD, up 21% from $129.2 billion borrowed in 2015 YTD, and marks the highest YTD level on record.
The largest Real Estate sector deal signed in Singapore in 2016 YTD
- Wealthy Link has signed a S$2.8 billion facility through joint mandated lead arrangers Bank of Tokyo-Mitsubishi UFJ and UOB, on a club basis. Proceeds are for property purposes.
- This is the largest Real Estate sector deal signed in Singapore so far this year, followed by Asia Square Tower 1’s $1.5 billion facility in November 2016 and South Beach Consortium’s $1.2 billion fundraising in April 2016.
- Real Estate is the second largest sector in the Singapore syndicated loan market with $10.0 billion signed in 2016 YTD, accounting for 25% of Singapore’s total loan volume.
Technology leads Taiwan syndicated loan volume in 2016 YTD
- Tatung has signed an $880 million facility through joint bookrunners and mandated lead arrangers Bank of Taiwan, Land Bank of Taiwan, Mega International Commercial Bank, and Taishin International Bank. Syndication saw Chang Hwa Commercial Bank and Hua Nan Commercial Bank join as arrangers; while Agricultural Bank of Taiwan, Bank SinoPac, EnTie Commercial Bank, Far Eastern International Bank, First Commercial Bank, Industrial Bank of Taiwan, Sunny Bank, Taipei Fubon Commercial Bank, Taiwan Business Bank, and Taiwan Cooperative Bank came in as participants. Proceeds are to repay existing debt and for working capital purposes.
- Technology sector accounts for the majority of Taiwan’s loan volume in 2016 YTD. Volume stands at $12.4 billion so far this year, up 4% from $11.9 billion borrowed in 2015 YTD.
- In Asia Pacific (ex Japan), Technology sector syndicated loan volume stands at $36.8 billion via 90 deals so far this year, up 50% from the $24.6 billion borrowed in 2015 YTD.
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