Real Estate sector leads the Asia Pacific (ex-Japan) loan volume in 2017 YTD
- Gluon Xima International has signed a $315 million facility through sole bookrunner and mandated lead arranger Credit Suisse. Syndication saw China Construction Bank, Industrial Bank, and Nanyang Commercial Bank join as mandated lead arrangers, while Bank of China, Bank of East Asia, China Minsheng Banking Corp, Chiyu Banking Corp, and Export-Import Bank of China came in as arrangers. Proceeds are for general corporate purposes.
- Real Estate is the third largest sector for China syndicated loan volume in 2017 YTD. Volume has reached $15.7 billion via 70 deals, down 16% year-on-year from $18.8 billion borrowed in 2016 YTD.
- Real Estate sector leads the Asia Pacific (ex-Japan) loan volume with $40.5 billion signed in 2017 YTD, down 10% from $45.0 billion borrowed in the same period of 2016.
Transportation sector leads the China loan volume
- Nanchang Rail Transit Group has secured a RMB 22.5 billion facility through joint mandated lead arrangers Agricultural Bank of China, Bank of China, China Construction Bank, Industrial & Commercial Bank of China, and Postal Savings Bank of China on a club basis. Proceeds are to finance the construction of Nanchang Metro Line 4 in Nanchang, Jiangxi Province, China.
- This is the largest Transportation sector deal signed in China so far this year, followed by Shenzhen Metro Group’s $3.2 billion facility signed in March 2017 and Jinhua Rail Transit Investment & Construction’s $3.1 billion fundraising signed in July 2017.
- Transportation sector leads the China loan volume with $21.7 billion signed in 2017 YTD, accounting for 22% of total China syndicated loan volume.
Hong Kong syndicated loan volume down 22% Y-o-Y
- Lei Shing Hong Credit has signed a $399 million facility through joint bookrunners and mandated lead arrangers Far Eastern International Bank, KGI Bank, Mega International Commercial Bank, Taishin International Bank, and Yuanta Commercial Bank. Syndication saw Chang Hwa Commercial Bank, Hua Nan Commercial Bank, and Taiwan Business Bank come in as mandated lead arrangers, while Bank SinoPac, Bank of Kaohsiung, Cathay United Bank, Jih Sun International Commercial Bank, Taipei Fubon Commercial Bank, and Taiwan Shin Kong Commercial Bank Co Ltd came in as participants. Proceeds are to refinance the facility signed in 2014 and for working capital purposes.
- Hong Kong syndicated loan volume stands at $24.6 billion in 2017 YTD, down 22% from $31.6 billion borrowed in 2016 YTD and marking the lowest YTD level since 2013 ($20.5 billion).
- In Asia Pacific (ex-Japan), total loan volume stands at $262.5 billion in 2017 YTD, down 16% year-on-year from $313.8 billion borrowed in the same period of 2016.
¬ Haymarket Media Limited. All rights reserved.
