The second largest deal signed in India in 2016 YTD
- Bharat PetroResources has secured a $1.4 billion facility through sole bookrunner and mandated lead arranger State Bank of India. Syndication saw Bank of Maharashtra, Canara Bank, Central Bank of India, Corporation Bank, Indian Bank, Oriental Bank of Commerce, Punjab National Bank, Syndicate Bank and Union Bank of India join as mandated lead arrangers. Proceeds are for capital expenditure purposes and for the development of overseas oil and gas assets.
- This is the second largest deal signed in India so far this year, behind ONGC Videsh’s $1.78 billion facility signed in March 2016.
- Oil & Gas sector leads the India syndicated loan market with $7.1 billion in 2016 YTD, almost triple the $2.5 billion borrowed in 2015 YTD.
The third largest Finance sector loan signed in China in 2016 YTD
- China Orient Asset Management (International) Holding has signed a $350 million facility through sole bookrunner and mandated lead arranger Taipei Fubon Commercial Bank. Syndication saw Bank of East Asia, Bank of Shanghai, China Guangfa Bank, Chong Hing Bank, First Gulf Bank, Fubon Bank (China), Fubon Bank (Hong Kong), KGI Bank, Nanyang Commercial Bank, Shanghai Pudong Development Bank, State Bank of India and UOB join in as mandated lead arrangers, while Bank SinoPac, Bank of Kaohsiung, CTBC Bank, Chang Hwa Commercial Bank, E.Sun Commercial Bank, Far Eastern International Bank, Jih Sun International Commercial Bank, KEB Hana Bank, Monte dei Paschi, Shanghai Commercial Bank, Tai Fung Bank, Taichung Commercial Bank and Taishin International Bank came in as arrangers. Proceeds are for working capital purposes.
- The deal is the third largest Finance sector loan in China so far this year, behind China Cinda Assets Management’s $5.0 billion fundraising signed in February 2016, and CMB Financial Leasing’s $400 million facility signed in August 2016.
- Finance is the second largest sector for Asia Pacific (ex Japan) loan volume, with $31.2 billion signed so far this year, and slightly down from $33.0 billion borrowed in 2015 YTD.
The second largest Chemicals sector deal signed in Asia Pacific (ex Japan) in 2016 YTD
- China Lesso Group Holdings has wrapped up a $600 million facility through joint bookrunners and mandated lead arrangers CTBC Bank, Citi, Hang Seng Bank, HSBC, Industrial & Commercial Bank of China and Taipei Fubon Commercial Bank. Syndication saw Chang Hwa Commercial Bank, China CITIC Bank Corp, China Merchants Bank, China Minsheng Banking Corp, Chiyu Banking Corp, Chong Hing Bank, E Sun Commercial Bank, East West Banking Corp, Hua Nan Commercial Bank, Monte dei Paschi, Nanyang Commercial Bank, Siemens Bank, State Bank of India, Tai Fung Bank, Taichung Commercial Bank, Taishin International Bank, Taiwan Shin Kong Commercial Bank, Wing Lung Bank and Woori Global Markets Asia came in as arrangers. Proceeds are to repay existing debt and for working capital purposes.
- The deal is the second largest Chemicals sector deal signed in Asia Pacific (ex Japan) so far this year, behind SKI Carbon Black (Mauritius)’s $925 million fundraising signed in March 2016.
- Asia Pacific (ex Japan) Chemicals sector loan volume has reached $5.5 billion via 22 deals so far this year, down 35% year-on-year, marking the lowest YTD level since 2012 ($4.7 billion).
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