The largest Leisure & Recreation facility in Asia Pacific (ex Japan) signed in 2015 YTD
WynnResorts (Macau) has signed a $3.1 billion facility through join bookrunners and mandated lead arrangers BNP Paribas, Banco Nacional Ultramarino, Bank of America Merrill Lynch, Bank of China, Bank of Nova Scotia, DBS, ICBC, Sumitomo Mitsui Banking Corp and UOB. Syndication saw Bank of Communications, Deutsche Bank, JPMorgan and UBS join as mandated lead arrangers while Banco Commercial de Macau, China Construction Bank, First Commercial Bank, Morgan Stanley, Tai Fung Bank and Wing Lung Bank came in as arrangers. Proceeds are to refinance an existing facility signed in July 2012 and for general corporate purposes.
This is the largest Leisure & Recreation sector facility in Asia Pacific (ex Japan) in 2015 YTD, followed by MGM Grand Paradise’s $3.0 billion fundraising in June.
Asia Pacific (ex Japan) Leisure & Recreation sector syndicated loan volume totals $11.5 billion via 12 deals so far this year, slightly down from the $11.6 billion via 12 deals in 2014 YTD.
South Korea syndicated loan volume down 13% year-on-year
Hyundai Chemical has signed a KRW 715 billion three-tranche term loan through sole bookrunner and mandated lead arranger Korea Development Bank. Syndication saw Bank of Communications, China Construction Bank, KB Insurance, Lotte Capital, National Credit Union Federation of Korea, Shinhan Bank, Suhyup Bank and Woori Bank join as participants. Proceeds are used for development and construction purposes.
South Korea syndicated loan volume stands at $19.3 billion so far this year, down 13% from the $22.1 billion borrowed in the same period of 2014.
Technology leads Taiwan loan sector ranking
World Peace Industrial has secured a NT$7.2 billion three-year revolver through joint bookrunners and mandated lead arrangers Bank of Taiwan, E Sun Commercial Bank, Mizuho Bank and Taipei Fubon Commercial Bank. Syndication saw Bank of China, Bank of Tokyo-Mitsubishi UFJ, Chang Hwa Commercial Bank, First Commercial Bank, Hua Nan Commercial Bank, Land Bank of Taiwan, Mega International Commercial Bank, Taiwan Business Bank and Taiwan Cooperative Bank join as participants. Proceeds are to repay existing debt and for working capital purposes.
Technology is the leading sector for Taiwan syndicated loan volume with $10.3 billion in 2015 YTD, accounting for 31% of Taiwan’s total loan volume.
Total Taiwan syndicated loan volume has reached $33.7 billion in 2015 YTD, up 53% from the $22.0 billion borrowed in the same 2014 period.
