Asia-Pacific (ex-Japan) Finance sector loan up 26% Y-o-Y
- Joint Stock Commercial Bank for Investment & Development of Vietnam has signed a $150 million term loan through joint sole bookrunner and mandated lead arranger Cathay United Bank. Syndication saw Bank of Communications, Bank of Taiwan, China Construction Bank and First Commercial Bank joined as mandated lead arrangers while Hua Nan Commercial Bank, Land Bank of Taiwan, Shanghai Commercial & Savings Bank, Sunny Bank, Taishin International Bank, Taiwan Cooperative Bank and Union Bank of Taiwan came in as arrangers. Proceeds are to refinance $350m facility signed in Dec 2016.
- Vietnam syndicated loan volume stands at $3.6 billion via 10 deals so far this year, up 7.2% from 2017’s $3.4 billion, and marking the highest YTD level on record.
- In Asia Pacific region, Finance sector syndicated loan stands at $29.9 billion in 2018 YTD, up 26% from $23.7 billion in the same period of 2017.
The second-largest Utility sector loan signed in Southeast Asia in 2018 YTD
- Perusahaan Listrik Negara has signed a $678 million facility through joint mandated lead arrangers Bank Central Asia, Indonesia Eximbank, Bank CIMB Niaga, Bank Mandiri, Bank Rakyat Indonesia, Sarana Multi Infrastruktur on a club basis. Proceeds are for general corporate purposes.
- This is the second-largest Utility sector deal signed in Southeast Asia so far this year, after Nghi Son 2 Power’s $1.9 billion facility signed in January 2018.
- In 2018 YTD, Southeast Asia syndicated loan volume stands at $60.5 billion via 128 deals, up 7% from $56.8 billion borrowed in 2017 YTD.
Asia-Pacific (ex-Japan) Project Financing* loan down 17% Y-o-Y
- Poso Energy has signed a $552 million facility through joint bookrunners and mandated lead arrangers Bank Negara Indonesia, Bank Mandiri, and Bank Raykat Indonesia. Syndication saw Bank Panin and Bank Rakyat Indonesia Agroniaga join as participants. Proceeds are to support the project that entails the development of Poso Peaker Power Plant with capacity of 515MW.
- In Asia-Pacific (ex-Japan), Project Financing loans stands at $112.2 billion so far this year, down 17% from $135.6 billion borrowed in 2017 YTD.
- In 2018 YTD, Indonesia syndicated loan volume stands at $11.7 billion, down 23% from $15.1 billion borrowed in 2017 YTD.
*Includes deals where use of proceeds is project financing or capital expenditure.
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