China Finance sector loan volume down 12% YoY
- Far East Horizon has signed a $800 million facility through joint bookrunners and mandated lead arrangers ANZ, CTBC Bank, DBS, Nanyang Commercial Bank, and UOB. Syndication saw Bank of East Asia, Bank of Shanghai, First Abu Dhabi Bank, Hang Seng Bank, Intesa Sanpaolo, Mega International Commercial Bank, State Bank of India, and Taiwan Cooperative Bank join as arrangers; while Bank SinoPac, First Commercial Bank, Korea Development Bank, Land Bank of Taiwan, and Sunny Bank came in as participants. Proceeds are to repay existing debt and for general corporate purposes.
- In China, Finance sector loan volume stands at $9.7 billion in 2017 YTD, down 12% from $11.0 billion borrowed in the same period of 2016 and marking the lowest YTD level since 2014 ($7.7 billion).
- In China, syndicated loan volume totals $145.6 billion via 403 deals, drop 11% year-on-year from $164.5 billion in 2016 YTD via 383 deals.
Asia Pacific syndicated loan volume down 11% YoY
- Kingboard Chemical Holdings has secured a HK$5.5 billion facility through joint bookrunners and mandated lead arrangers Bank of Tokyo-Mitsubishi, China Construction Bank, Chong Hing Bank, DBS, Hang Seng Bank, Industrial & Commercial Bank of China, Mega International Commercial Bank, Mizuho Bank, Nanyang Commercial Bank, Standard Chartered Bank, and Sumitomo Mitsui Banking Corp. Syndication saw Bank of East Asia, Cathay United Bank, Credit Industriel et Commercial, OCBC Wing Hang Bank, and Woori Bank come in as arrangers while Shanghai Commercial & Savings Bank joined as participant. Proceeds are for capital expenditure and general corporate purposes.
- China offshore syndicated loan volume totals $45.5 billion so far this year, down 4% from $47.4 billion borrowed in 2016 YTD.
- Asia Pacific syndicated loan volume stands at $431.8 billion in 2017 YTD, down 11% year-on-year and marking the lowest YTD level since 2012 ($367.0 billion).
The second largest loan deal signed in Malaysia in 2017 YTD
- Pengerang Terminals (Two) has signed a $1.3 billion facility through joint mandated lead arrangers AmInvestment Bank, Bank of Tokyo-Mitsubishi UFJ, DBS, ING Bank, Maybank, Natixis, OCBC Bank, Sumitomo Mitsui Banking Corp, and UOB on a club basis. Proceeds are to finance the phase two of Pengerang Terminal in Pengerang, State of Johor, Malaysia.
- This is the second largest deal signed in Malaysia so far this year, after SapuraKencana TMC’s $1.5 billion facility signed in March 2017.
- Malaysia syndicated loan volume totals $10.1 billion in 2017 YTD, increased by 17% from $8.6 billion borrowed in 2016 YTD and altering the downward trend since 2014.
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