The second largest deal signed in China in 2016 YTD
- Qingdao Airport Group has signed a RMB19.9 billion facility through mandated lead arrangers Agricultural Bank of China, Bank of China, Bank of Communications, Bank of Qingdao, China CITIC Bank, China Construction Bank, China Development Bank, China Everbright Bank, China Merchants Bank, Export-Import Bank of China, Industrial & Commercial Bank of China, Postal Savings Bank of China and Qingdao Rural Commercial Bank on a club basis. Proceeds are for capital expenditure purposes.
- The deal is the second largest syndicated loan signed in China so far this year, behind China Cinda Asset Management’s $5.0 billion fundraising signed on 26 February 2016.
- China syndicated loan volume has reached $28.7 billion so far this year, down 13% from the $32.8 billion borrowed in 2015 YTD.
Singapore syndicated loan volume up 58% year-on-year in 2015
- Gold Ridge has secured a S$1 billion facility through joint mandated lead arrangers DBS, OCBC and UOB on a club basis. Proceeds are to repay existing debt and general corporate purposes.
- This is the third largest syndicated loan signed in Singapore so far this year, after Trafigura Pte’s $5.1 billion fundraising signed on 24 March 2016 and the $800 million raised by BW LPG on 27 Jan 2016.
- Singapore syndicated loan volume totals $8.9 billion so far this year, a 58% increase from the $5.6 billion raised in 2015 YTD.
India syndication loan market record lowest YTD volume since 2009
- SKI Carbon Black (Mauritius) has secured a $925 million facility through joint bookrunners and mandated lead arrangers ANZ, Axis Bank, Bank of America, Credit Agricole CIB, ICICI Bank and Standard Chartered Bank. Syndication saw BNP Paribas, Mizuho, SG Corporate & Investment Banking, State Bank of India and Westpac join as mandated lead arrangers while Banco do Brasil, Export Development Canada and Siemens Financial Services came in as arrangers. CTBC Bank joined as a participant. Proceeds are to repay existing debt and for general corporate purposes.
- Chemicals sector is the third largest sector in the India syndicated loan market with $1.7 billion in 2016 YTD, accounting for 15% of India’s total loan volume.
- India syndicated loan volume $11.5 billion so far this year, the lowest YTD level since 2009 ($7.9 billion).
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