The second largest facility in Australia Construction sector signed in 2015 YTD
Stella DHL Finance has completed a A$1.4 billion five-year fundraising through joint bookrunner and mandated lead arrangers CIBC, Commonwealth Bank of Australia, Credit Agricole CIB, DBS, DZ Bank, Mizuho, NAB, OCBC, UOB and Westpac on a club basis. The financing comprises of a A$1.3 billion tranche and a A$55 million credit. Proceeds are for capital expenditure purposes.
The deal is the second largest facility in Australia Construction sector so far this year, behind SDP FinCo’s $1.3 billion deal in March and pushes Construction sector loan volume to a record $9.8 billion in 2015 YTD, up 29% to $7.6 billion reached in the same 2014 period.
Real Estate continues to lead Asia Pacific (ex Japan) loan volume in 2015 YTD
Shanghai Xinhaojia Property Development has sealed a RMB 1 billion three-year financing though sole bookrunner and mandated lead arranger SMBC. Syndication saw Hang Seng Bank join in as mandated lead arranger. Proceeds are to finance the development cost of the project.
Real Estate maintains its lead in the Asia Pacific (ex Japan) loan market so far this year with $40.6 billion in 2015 YTD but volume is down 41% on the record $70.2 billion borrowed in 2014 YTD.
The third largest Technology sector loan signed in Taiwan 2015 YTD
AU Optronics Corp has signed a NT$37.5 billion dual-tranche facility through joint bookrunners and mandated lead arrangers Bank of Taiwan, CTBC Bank, Cathay United Bank, DBS, Land Bank of Taiwan, Mega International Commercial bank, Taipei Fubon Commercial Bank, Taishin International Bank and Taiwan Cooperative Bank. The facility is split into a NT$26.5 billion five-year portion and a NT$11 billion three-year credit.
Syndication saw Agricultural Bank of Taiwan, Bank SinoPac, Chang Hwa Commercial Bank, Citibank, E.Sun Commercial Bank, Far Eastern International Bank, Hua Nan Commercial Bank, Jih Sun International Bank, KGI bank, Shanghai Commercial & Savings Bank, Standard Chartered Bank, Ta Chong Bank, Taiwan Business Bank, Taiwan Life Insurance, Taiwan Shin Kong Commercial Bank and Yuanta Commercial Bank join as participants. Proceeds are to repay existing debt and for working capital purposes.
The deal marks the third largest Technology sector loan in Taiwan so far this year, behind Innolux Corp’s $2.2 billion loan and Pegatron Corp’s $1.5 billion facility.
Taiwan Technology loan volume is up 38% year-on-year to $9.2 billion in 2015 YTD and is in line with the increase in overall Taiwan syndicated loan volume which is up 70% during the same period to $31.3 billion in 2015 YTD.