China onshore loan volume down 20% Y-o-Y
- Guizhou Airport Group has signed a RMB 9.4 billion facility through sole mandated lead arranger Industrial & Commercial Bank of China. Syndication saw Agricultural Bank of China, Bank of China, Bank of Communications, China Construction Bank, China Merchants Bank, China Minsheng Banking Corp, and Postal Savings Bank of China come in as participants. Proceeds are to support Guiyang Longdongbao International Airport Phase III expansion project in Guizhou province, China.
- China onshore loan volume stands at $71.5 billion so far this year, down 20% from $89.2 billion borrowed in 2016 YTD.
- China syndicated loans volume totals $100.7 billion in 2017 YTD, down 13% from $115.8 billion in the same period of 2016.
Largest Finance sector deal signed in Hong Kong in 2017 YTD
- Guotai Junan (Hong Kong) has secured a HK$8.0 billion facility through joint mandated lead arrangers Bank Sinopac, Bank of China, China Construction Bank, DBS Bank, HSBC, Industrial & Commercial Bank of China, OCBC, Shanghai Pudong Development Bank, Standard Chartered Bank, and UOB on a club basis. Proceeds are to refinance the HK$10.5 billion facility signed in April 2015 and for working capital purposes.
- This is the largest Finance sector deal signed in Hong Kong so far this year, followed by Haitong International Securities Group’s $860 million facility signed in March 2017 and State Bank of India (Hong Kong)’s $750 million fundraising signed in February 2017.
- Finance is the second largest sector for Hong Kong syndicated loan volume with $5.9 billion signed in 2017 YTD, accounting for 23% of total Hong Kong syndicated loan volume.
Taiwan syndicated loan volume down 47% Y-o-Y
- Chyi Yuh Construction has signed a NT$7.4 billion facility through joint bookrunners and mandated lead arrangers Taiwan Business Bank, Taiwan Cooperative Bank, and Taiwan Shin Kong Commercial Bank. Syndication saw Agricultural Bank of Taiwan, Bank of Kaohsiung, Chang Hwa Commercial Bank, Hua Nan Commercial Bank, and Mega International Commercial Bank join as participants. Proceeds are to support a residential project in Kaohsiung, Taiwan.
- This is the third largest Construction sector deal signed in Taiwan so far this year, after Shanyuan and Lung Lin Construction’s $393 million facility signed in February 2017 and Highwealth Construction’s $352 million facility signed in March 2017.
- Taiwan syndicated loan volume stands at $10.1 billion in 2017 YTD, down 47% from $19.0 billion borrowed in 2016 YTD and marking the lowest YTD level since 2005 ($9.0 billion).
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