Asia Pacific (ex Japan) bridge facility volume records lowest YTD level since 2007
Biostime Healthy Hong Kong has signed a $450 million bridge facility through joint bookrunners and mandated lead arrangers ANZ and HSBC on a club basis. Proceeds are to support the $992.4 million acquisition of Swisse Wellness Group.
Asia Pacific (ex Japan) bridge facility volume has reached $5.1 billion in 2015 YTD, the lowest YTD level since 2010 ($2.2 billion).
Acquisition related* loan volume stands at $25.2 billion in Asia Pacific (ex Japan) so far this year, down 61% from $65.0 billion borrowed in the same 2014 period.
*Includes transactions where the proceeds are used for acquisitions, future acquisitions, spinoffs, and LBO/MBO
The second largest Hong Kong Finance facility signed in 2015 YTD
Swire Finance has completed a $800 million five-year revolving credit through joint mandated lead arrangers ANZ, Bank of Tokyo-Mitsubishi UFJ, HSBC and Mizuho on a club basis. The financing is guaranteed by Swire Pacific. Proceeds are to repay existing indebtedness and for general working capital purposes.
The deal is the second largest loan from the Finance sector signed in Hong Kong so far this year and brings the total Hong Kong Finance loan volume to $7.5 billion in 2015 YTD, up 98% year-on-year.
Hong Kong syndicated loan volume stands at $39.0 billion via 77 deals in 2015 YTD, up 11% from the $35.2 billion in the same 2014 period.
The second largest Oil & Gas loan signed in India 2015 YTD
HPCL-Mittal Energy has secured a $707 million equivalent dual-tranche term loan through sole bookrunner and mandated lead arranger State Bank of India. Syndication saw Canara Bank, Export-Import Bank of India, Oriental Bank of Commerce, Punjab & Sind Bank, State Bank of Patiala and Syndicate Bank join as participants. The facility is split into a $220 million portion and a INR 32.3 billion credit. Proceeds are to repay existing debt.
The deal marks the second largest syndicated loan from the Oil & Gas sector in India so far this year, behind Bharat Oman Refineries’ $750.0 million facility.
India Oil& Gas loan volume is down 77% year-on-year to $3.0 billion in 2015 YTD. This is in line with the decrease in overall India syndicated loan volume which is down 49% year-on-year to $32.1 billion in 2015 YTD.
