Chemical sector loans in Asia Pacific (ex Japan) mark highest year-to-date level
· Hindustan Urvarak & Rasayan Ltd has signed an INR 52.8 billion facility through sole mandated lead arranger State Bank of India. Syndication saw Andhra Bank, Bank of India, Canara Bank, Punjab National Bank and Vijaya Bank joined as participants. Proceeds are to support the redevelopment of a 3850 mptd urea and 2200 MTPD ammonia capacity petrochemical plant.
· In India, syndicated loans stand at $31.2 billion so far this year, down 34% from $47.1 billion in the same period of 2017.
· In Asia Pacific (ex Japan), chemicals sector loans stand at $28.7 billion in 2018 year-to-date, marking the highest level on record, followed by $25.4 billion in 2016 year-to-date.
Syndicated loans in Indonesia down 16% YoY
· PT Federal International Finance has signed a $400 million facility through joint bookrunners and mandated lead arrangers Cathay United Bank, DBS, Taipei Fubon Commercial Bank, HSBC, Oversea-Chinese Banking Corporation, Mizuho Bank, MUFG Bank, and Sumitomo Mitsui Banking Corporation. Syndication saw Bank of China, Development Bank of Japan, Gunma Bank, Intesa Sanpaolo, Hyakugo Bank, Export-Import Bank of China, Hachijuni Bank, Korea Development Bank, Mega International Commercial Bank, and Shinsei Bank joined in as arrangers while Shizuoka Bank, Bank of Kyoto, BNP Paribas and Far Eastern International Bank came in as participants. Proceeds are for general corporate purposes.
· Finance sector loans amount to $44.1 billion via 147 deals in Asia Pacific (ex Japan) so far this year, up 25% from $35.2 billion in 2017 year-to-date.
· In 2018 year-to-date, Indonesia syndicated loan volume stands at $16.2 billion via 52 deals, down 16% from $19.3 billion borrowed in 2017 year-to-date .
Club deals in Asia Pacific (ex Japan) keep consistent year-on-year
· Brookfield MLF Pty Ltd has signed a A$415 million facility through joint mandated lead arrangers Commonwealth Bank of Australia and Credit Agricole on club basis. Proceeds are for refinancing purposes.
· Australasia club deals stand at $29.2 billion year-to-date, accounting 32% of total market share.
· In Asia Pacific (ex Japan), club loans total $130.8 billion in 2018 year-to-date, almost the same compared with $137.8 billion in the same period of 2017.
