The third largest Transportation facility signed in Asia Pacific (ex Japan) in 2015 YTD
Guangdong Nanyue Jiaotong Expressway Administration Center has obtained a RMB 24.1 billion 19-year term loan through sole bookrunner and mandated lead arranger Bank of China. The fundraising is priced at PBOC rate. Syndication saw China Development Bank join in as mandated lead arranger while Bank of Communications, China Citic Bank, Industrial & Commercial Bank of China and Postal Savings Bank of China came in as lenders. Proceeds are for capital expenditure purposes.
This is the third largest Transportation loan signed in Asia Pacific (ex Japan) so far this year, behind Taiwan High Speed Rail Corp’s $9.9 billion financing and Capital Airports Holding’s $6.6 billion facility.
Transportation sector loan volume has reached $47.7 billion via 85 deals in 2015 YTD, up 57% on the $30.5 billion via 98 deals borrowed in the same 2014 period.
The largest Oil & Gas facility signed in China & Hong Kong 2015 YTD
Sinochem Hong Kong (Group) has signed a $500 million three-year term loan through joint bookrunners and mandated lead arrangers ANZ, Bank of Tokyo-Mitsubishi UFJ, HSBC and Standard Chartered Bank. Syndication saw Agricultural Bank of China, BBVA, Bank of America, Bank of Communications, Bank of Nova Scotia, CCB, Citi, CBA, First Gulf Bank, Hang Seng Bank, ICBC, Mizuho, Nanyang Commercial Bank, National Bank of Abu Dhabi, OCBC, Shanghai Pudong Development Bank, Societe Generale, SMBC, UOB and Westpac join as mandated lead arrangers while Bank of Montreal, Commerzbank, Credit Industriel et Commercial and Intesa Sanpaolo came in as arrangers. Proceeds are to repay existing indebtedness and for general corporate purposes.
The deal marks the largest syndicated loan from Oil & Gas in China and Hong Kong in 2015 YTD, followed by Citic Resources Holdings’ $490 million borrowing.
In China and Hong Kong, Oil & Gas loan volume stands at $1.5 billion via 6 deals so far this year, down 30% year-on-year from $2.2 billion borrowed in the same 2014 period.
General corporate purposes is the second largest use of proceed in Southeast Asia
Rizal Commercial Banking has sealed a $280 million three-year term loan through joint bookrunners and mandated lead arrangers Deutsche Bank and ING Bank. Syndicated saw First Gulf Bank, Korea Development Bank and United Overseas Bank join in as mandated lead arrangers while Apple Bank for Savings, Bank of Kaohsiung, Bank of Taiwan, CTBC Bank, E SUN Commercial Bank, Erste Group Bank, Export-Import Bank of the Republic of China, Mega International Commercial Bank, National Bank of Kuwait, Shanghai Commercial & Savings Bank, Taipei Fubon Commercial Bank, Taishin International Bank and Taiwan Business Bank concluded the syndicate as arrangers. Proceeds are for general corporate purposes.
In terms of use of proceed, general corporate purposes is the second largest in Southeast Asia with $9.6 billion in 2015 YTD, down 42% year-on-year.
Overall Southeast Asia loan volume has dropped 50% year-on-year to $44.6 billion in 2015 YTD.
