The second largest Technology sector deal signed in Asia Pacific (ex Japan) in 2017 YTD
- Kingboard Laminates Holdings has signed a HK$6.0 billion facility through joint bookrunners and mandated lead arrangers Bank of China (Hong Kong), Bank of China (Macau), Bank of Tokyo-Mitsubishi UFJ, Chong Hing Bank, Hang Seng Bank, Industrial & Commercial Bank of China (Macau), Mizuho Bank, Standard Chartered Bank and Sumitomo Mitsui Banking Corp. Syndication saw China Construction Bank and OCBC Wing Hang Bank join in as mandated lead arrangers; while Bank of East Asia, Industrial & Commercial Bank of China (Asia), Shanghai Commercial & Savings Bank, Tai Fung Bank and Taipei Fubon Commercial Bank join in as arrangers. Proceeds are to refinance the two facilities signed in February 2014 and January 2015 respectively, and for capital expenditure purposes.
- This is the second largest Technology sector deal signed in Asia Pacific (ex Japan) in 2017 YTD, behind Tencent Asset Management’s $4.7 billion fundraising in March 2017.
- Technology is the third largest sector in Asia Pacific (ex Japan) with $9.3 billion signed so far this year, accounting for 14% of Asia Pacific (ex Japan)’s total loan volume.
The largest deal signed in India in 2017 YTD
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Reliance Industries has signed a $1.8 billion facility through joint bookrunners and mandated lead arrangers ANZ, BNP Paribas, Bank of America Merrill Lynch, Bank of China, Bank of Nova Scotia, Bank of Tokyo-Mitsubishi UFJ, Barclays Bank, Citi, Credit Agricole, DBS, Export Development Canada, HSBC, JP Morgan, Korea Development Bank, Mizuho Bank, National Bank of Abu Dhabi, Standard Chartered Bank, Sumitomo Mitsubishi Banking Corp, UOB and Westpac. Syndication saw Mega International Commercial Bank join as mandated lead arranger; while AfrAsia Bank, Bank of Taiwan, Hua Nan Commercial Bank, KGI Bank and Taipei Fubon Commercial Bank came in as arrangers. Chiba Bank, E Sun Commercial Bank, Export-Import Bank of the Republic of China, First Commercial Bank and Land Bank of Taiwan joined as participants. Proceeds are to refinance a $1.8 billion facility signed in November 2013.
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This is the largest syndicated loan signed in India so far this year, followed by Bharat PetroResources’ $1.6 billion fundraising and Mahanagar Telephone Nigam’s $704 million facility, both signed in March 2017.
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India syndicated loan volume stands at $11.2 billion in 2017 YTD, accounting for 16% of Asia Pacific (ex Japan)’s total loan volume.
The third largest deal signed in Taiwan in 2017 YTD
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Highwealth Construction has signed a NT$10.7 billion facility through sole bookrunner and mandated lead arranger Taiwan Cooperative Bank. Syndication saw Mega International Commercial Bank join in as mandated lead arranger; while Agricultural Bank of Taiwan, Bank of Kaohsiung, Chang Hwa Commercial Bank, DBS, Jih Sun Commercial Bank, Taichung Commercial Bank and Taiwan Business Bank join in as participants. Proceeds are to finance the issuance of convertible bonds.
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This is the third largest deal signed in Taiwan so far this year, after Formosa Resources’ $430 million facility signed in March 2017 and Shanyuan and Lung Lin Construction’s $393 million facility signed in February 2017.
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Taiwan syndicated loan volume stands at $3.3 billion in 2017 YTD, down 53% year-on-year, marking the lowest YTD level since 2009 ($3.0 billion).
