Utility & Energy sector leads the China syndicated loan market
Guangdong Baolihua New Energy Stock has signed a RMB 7.0 billion term loan through joint mandated lead arrangers Agricultural Bank of China, Bank of China, Bank of Communications, China Construction Bank, Industrial & Commercial Bank of China and Postal Savings Bank of China on a club basis. Proceeds are for capital expenditure purposes.
Utility & Energy leads the China syndicated loan sector ranking with $21 billion in 2015 YTD, accounting for 22.4% of China’s total loan volume.
It is the third largest sector for Asia Pacific (ex Japan) loan volume in 2015 YTD. Volume has reached $45.3 billion via 122 deals so far this year, a 13.6% drop on the $53.2 billion via 138 deals borrowed in the same 2014 period.
Singapore syndicated loan volume has recorded lowest YTD volume since 2010
Mercuria Energy Trading and Mercuria Asia Group Holdings have secured a $1.1 billion triple –tranche revolver through joint bookrunners and mandated lead arrangers ANZ, Bank of Tokyo Mitsubishi UFJ, DBS, Emirates NBD PJSC, First Gulf Bank PJSC, ING Bank, ICBC, Mizuho Bank, Societe Generale, Sumitomo Mitsui Banking Corp and UOB. Syndication saw Bank of China and Rabobank join as mandated lead arrangers while BRED Banque Popularie, Banco do Brasil, Bank of East Asia, Bank of Panhsin, CTBC Bank, Commonwealth Bank of Australia, Hang Seng Bank, OCBC, Raiffeisen Bank International, Sumitomo Mitsui Trust Bank, UBS, Union de Banques Arabes et Francaises, Westpac and Zenith Bank came in as arrangers. Proceeds are to repay existing debt.
This is the third largest Oil & Gas sector deal in Singapore in 2015 YTD, behind Trafigura’s $2.2 billion facility and Vitol Holding’s $1.5 billion fundraising.
Singapore syndicated loan volume stands at $25.7 billion so far this year, down 54% from $56.3 billion borrowed in the same period of 2014, marking the lowest YTD level since 2010 ($18.9 billion).
Consumer product sector syndicated loan volume up 4.3% YoY
Depo Auto Parts Industrial has signed a NT$7 billion 5-year term loan through sole bookrunner and mandated lead arranger Bank of Taiwan. Syndication saw Bank SinoPac, Chang Hwa Commercial Bank, E Sun Commercial Bank, First Commercial Bank, Hua Nan Commercial Bank, KGI Bank, Land Bank of Taiwan, Mega International Commercial Bank, Shanghai Commercial & Savings Bank, Taiwan Cooperative Bank and Yuanta Commercial Bank join as mandate lead arrangers. Proceeds are for working capital purposes.
This is the largest loan in Taiwan so far this year, followed by Test Rite International’s NT$6 billion fundraising.
Consumer product sector loan volume stands at $4.9 billion in Asia Pacific (ex Japan) in 2015 YTD, up 4.3% year-on-year.
