Australia syndicated loan volume at lowest YTD level since 2010
- Genesee & Wyoming Australia has signed an A$740 million facility through joint mandated lead arrangers ANZ, BNP Paribas, Bank of America Merrill Lynch, Bank of Tokyo-Mitsubishi UFJ, Citibank, Commonwealth Bank of Australia, JPMorgan Chase, National Australia Bank and Sumitomo Mitsui Banking Corp on a club basis. Proceeds are to support the A$1.1 billion acquisition of Glencore’s Australian coal haulage business Grail and for working capital purposes.
- Transportation is the second largest sector for Australia syndicated loan volume with $7.3 billion signed so far this year.
- Australia syndicated loan volume stands at $47.2 billion via 104 deals in 2016 YTD, down 37% from $75.1 billion borrowed in 2015 YTD and marking the lowest YTD level since 2010 ($42.9 billion).
Transportation leads the Asia-Pacific (ex Japan) syndicated loan volume
- Nanchang Rail Transit Group has signed a RMB 17.4 billion facility through joint mandated lead arrangers Agricultural Bank of China, Bank of China, China Construction Bank, China Development Bank, Industrial & Commercial Bank of China and Postal Savings Bank of China on a club basis. Proceeds are to support a RMB 17.4 billion project that entails the construction of a 28.5km-long metro line with 22 stations in Nanchang, China.
- Transportation is the largest sector in the China syndicated loan market with $25.3 billion signed in 2016 YTD, accounting for 19% of China’s total loan volume.
- In Asia Pacific (ex Japan), Transportation sector syndicated loan volume stands at $46.1 billion via 75 deals in 2016 YTD, decrease 28% year-on-year.
Southeast Asia syndicated loan volume increase 10% Y-o-Y
- Global Container Assets 2016 has signed a $260 million facility through joint bookrunners and mandated lead arrangers ABN AMRO Bank and ING Bank. Syndication saw Clifford Capital, EverBank Commercial Finance and Siemens Financial Services join as arrangers. Proceeds are to repay existing debt, for working capital purposes and for the future acquisition of 9,852 units of tank containers.
- Southeast Asia syndicated loan volume stands at $63.1 billion so far this year, increase 10% year-on-year.
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