The second largest Chemical sector loan signed in China in 2017 YTD
- Zhuhai Zhongfu Enterprise has signed a RMB 2.0 billion facility through sole mandated lead arranger Bank of Communications. Syndication saw Bank of China, China Everbright Bank, and Industrial & Commercial Bank of China join as participants. Proceeds are to repay existing debt and for working capital purposes.
- This is the second largest Chemical sector loan signed in China so far this year, after Anhui Haoyuan Chemical Group’s $362 million fundraising signed in January 2017.
- Chemical sector syndicated loan volume in Asia Pacific (ex Japan) totals $2.1 billion via 12 deals in 2017 YTD, down 54% from $4.6 billion borrowed in 2016 YTD.
Finance is the second largest sector in Asia-Pacific (ex Japan) in 2017 YTD
- Minsheng Hong Kong International Leasing has signed a $335 million facility through joint bookrunners and mandated lead arrangers Credit Suisse, E Sun Commercial Bank and Standard Chartered Bank. Syndication saw Bank of East Asia, China Everbright Bank, Fubon Bank (Hong Kong), and Taipei Fubon Commercial Bank join as mandated lead arrangers; while BDO Unibank, Bank of Communications, Chang Hwa Commercial Bank, Chiyu Bank, Chong Hing Bank, Land Bank of Taiwan, Mega International Commercial Bank, Tai Fung Bank, Taishin International Bank, Taiwan Cooperative Bank, Taiwan Shin Kong Commercial Bank, and Wing Lung Bank joined as arrangers. Sunny Bank also joined as a participant. Proceeds are for general working capital requirements, including but not limited to refinancing its existing indebtedness and purchasing equipment, aircraft and vessels.
- This is the third largest Finance sector loan signed in China so far this year, after CITIC Capital Holdings’ $406 million fundraising signed in January 2017 and GZI REIT (Holding) 2005’s $379 million facility signed in April 2017.
- Finance is the second largest sector for Asia-Pacific (ex Japan) syndicated loan volume in 2017 YTD, with volume totals $12.3 billion via 36 deals in 2017 YTD, accounting for 12% of the region’s total syndicated loan market.
India syndicated loan volume down 21% Y-o-Y
- Rural Electrification Corp has signed a $230 million facility through joint bookrunners and mandated lead arrangers ANZ, Bank of Tokyo-Mitsubishi UFJ and Mizuho Bank. Syndication saw State Bank of India join as mandated lead arranger; while Bank of East Asia, Bank of Taiwan, Chang Hwa Commercial Bank, Export-Import Bank of the Republic of China, First Commercial Bank, Hua Nan Commercial Bank, Land Bank of Taiwan, Mega International Commercial Bank, Taipei Fubon Commercial Bank, and Taiwan Business Bank joined as arrangers. AfrAsia Bank, Gunma Bank, Hokkoku Bank, Sunny Bank, Taiwan Cooperative Bank and Taiwan Shin Kong Commercial Bank came in as participants. Proceeds are to fund infrastructure and power sector projects in India.
- This is the second largest Finance sector deal in India in 2017 YTD, behind Bank of Baroda’s $300 million facility in February 2017.
- India syndicated loan volume stands at $15.9 billion so far this year, down 21% from $20.1 billion borrowed in 2016 YTD and marking the lowest YTD level since 2009 ($13.2 billion).
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