The second largest loan signed in China this YTD
- Unis Technology Innovation & Development has secured a $701 million facility through joint bookrunners and mandated lead arrangers Bank of China, Credit Suisse, and Standard Chartered Bank. Syndication saw Nanyang Commercial Bank and Postal Savings Bank of China join as mandated lead arrangers; while Bank of East Asia, China CITIC Bank International, China Everbright Bank, China Minsheng Banking Corp, Dah Sing Bank, Hang Seng Bank, Industrial Bank, and Tai Fung Bank join as arrangers. Syndication also saw Wing Lung Bank come in as participant. Proceeds are to repay existing debt and for general corporate purposes.
- The deal is the second largest syndicated loan signed in China so far this year, behind Wenzhou Oujiang Estuary Bridge’s $800 million fundraising signed in January 2017.
- China syndicated loan volume totals $5.8 billion in 2017 YTD, down 72% year-on-year, also marking the lowest YTD level since 2007 ($2.1 billion).
The second largest loan deal signed in India this YTD
- Dhariwal Infrastructure has secured an INR 22.2 billion facility through sole mandated lead arranger SBI Capital Markets. Syndication saw Allahabad Bank, Bank of Baroda, ICICI Bank, IDBI Bank, India Infrastructure Finance, and UCO Bank join as participants. Proceeds are to support the operation of a 600 MW coal-based power plant in Chandrapur, Maharashtra, India.
- This is the second largest loan deal signed in India in 2017 YTD, after IndianOil LNG’s $430 million facility signed in February 2017.
- In India, syndicated loan volume stands at $3.9 billion via 33 deals in 2017 YTD, down 61% from $10.1 billion borrowed in the same period of 2016.
Acquisition-related loan* volume down 85% Y-o-Y in Asia Pacific (ex Japan)
- GlobalWafers has signed a $350 million facility through joint bookrunners and mandated lead arrangers Bank of Taiwan, Hua Nan Commercial Bank, Mega International Commercial Bank, Taipei Fubon Commercial Bank, and Taishin International Bank. Syndication saw Cathay United Bank join as a participant. Proceeds are to support the $537 million acquisition of SunEdison Semiconductor.
- This is the third largest acquisition-related loan signed in Asia Pacific (ex Japan) so far this year, behind SPIC Pacific Hydro’s $1.2 billion facility signed in January 2017, and SpeedCast International and Speedcast Australia’s $385 million fundraising signed in February 2017.
- In Asia Pacific (ex Japan), acquisition-related loan volume stands at $2.2 billion via 6 deals so far this year, down 85% from the $14.6 billion borrowed in 2016 YTD.
*Includes deals where use of proceeds is one of acquisitions, future acquisitions, spinoffs, and LBOs.
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