China offshore syndicated loan volume down 13% Y-o-Y
- Best Pacific International Holdings has signed a HK$2.0 billion facility through joint mandated lead arrangers Bank of China, Bank of Communications, CTBC Bank, Fubon Bank, Hang Seng Bank, Standard Chartered Bank, and UOB on a club basis. Proceeds are to repay existing debt and for general corporate purposes.
- China offshore syndicated loan volume totals $38.5 billion so far this year, down 13% from $44.0 billion borrowed in the same period of 2016.
- Similarly, China onshore syndicated loan volume stands at $78.1 billion in 2017 YTD, falling 29% from the 2016 YTD record-high of $109.3 billion.
Indonesia syndicated loan volume at the second highest YTD level
- Perusahaan Listrik Negara (Persero) has signed an IDR 12.0 trillion facility through joint mandated lead arrangers Bank Central Asia, Bank of Tokyo-Mitsubishi, Bank Mandiri, Bank Mega, Bank Rakyat Indonesia, Bank Sumitomo Mitsui Indonesia, Indonesia Eximbank, and Sarana Multi Infrastruktur on a club basis. Proceeds are for capital expenditure purposes.
- This is the second largest deal signed in Indonesia so far this year, after Bhumi Jati Power’s $1.7 billion facility signed in February 2017.
- Indonesia syndicated loan volume stands at $17.3 billion in 2017 YTD, up 8% from $16.0 billion borrowed in 2016 YTD and marking the second highest YTD level on record.
Southeast Asia syndicated loan volume down 8% Y-o-Y in 2017
- Millenia Tower Investments has signed a S$700 million facility through joint mandated lead arrangers DBS, Hongkong & Shanghai Banking Corp, OCBC, Sumitomo Mitsui Banking Corp, and UOB on a club basis. Proceeds are to refinance a S$700 million facility signed in November 2014 and for general corporate purposes.
- Singapore syndicated loan volume reached $33.1 billion via 64 deals in 2017, down 7% from $35.5 billion borrowed in the same period of 2016. Singapore syndicated loan volume accounts for 49% of the total volume in Southeast Asia.
- In Southeast Asia, syndicated loan volume totals $68.1 billion via 188 deals in 2017 YTD, down 8% from $74.0 billion borrowed in the same period of 2016.
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