China syndicated loan volume down 13% YoY
- Universal Medical Financial & Technical Advisory Services has signed a $600 million facility through joint bookrunners and mandated lead arrangers CTBC Bank, China Construction Bank, and Shanghai Pudong Development Bank. Syndication saw Bank of Communications, Chong Hing Bank, Hang Seng Bank, and State Bank of India join as mandated lead arrangers. Bank SinoPac, Bank of East Asia, Bank of Shanghai, Bank of Taiwan, Land Bank of Taiwan, Mega International Commercial Bank, OCBC, Taishin International Bank, Taiwan Business Bank, Taiwan Cooperative Bank, Taiwan Shin Kong Commercial Bank, and Tokyo Star Bank came in as arrangers; while E.Sun Commercial Bank joined as participant. Proceeds are for general corporate and working capital purposes.
- In China, syndicated loan volume stands at $146.5 billion in 2017 YTD, down 13% from $168.9 billion borrowed in the same period of 2016.
- In Asia Pacific (ex-Japan), Finance sector loan volume totals $40.9 billion via 152 deals, drop 15% year-on-year from $48.1 billion borrowed in 2016 YTD.
Hong Kong syndicated loan volume at record high
- CLSA Finance has secured a $600 million facility through joint mandated lead arrangers China CITIC Bank International, China Construction Bank, HSBC, Mizuho Bank, OCBC Wing Hang Bank, Standard Chartered Bank, UOB, and Westpac Banking Corp on a club basis. Proceeds are for general corporate purposes.
- Hong Kong syndicated loan volume totals $52.2 billion so far this year, increasing 18% from $44.2 billion borrowed in 2016 YTD and marking the highest YTD level on record.
- Asia Pacific (ex-Japan) syndicated loan volume stands at $463.0 billion in 2017 YTD, down 8% year-on-year and marking the lowest YTD level since 2013 ($460.2 billion).
The largest Telecommunication sector deal signed in India in 2017 YTD
- Reliance Jio Infocomm has signed a $1.5 billion facility through joint bookrunners and mandated lead arrangers ANZ, BNP Paribas, Bank of America Merrill Lynch, Bank of Nova Scotia Asia, Bank of Tokyo-Mitsubishi UFJ, Barclays Bank, Citi, Credit Agricole CIB, DBS, Export Development Canada, First Abu Dhabi Bank, HSBC, Mizuho Bank, Societe Generale, Standard Chartered Bank, Sumitomo Mitsui Banking Corp, UOB, and Westpac. Syndication saw DZ Bank and Mega International Commercial Bank join as mandated lead arrangers; while First Commercial Bank, Hua Nan Commercial Bank, and Land Bank of Taiwan came in as arrangers. Gunma Bank, Hyakujushi Bank, KGI Bank, Nomura Trust & Banking, and Shizuoka Bank joined as participants. Proceeds are to refinance an existing $1.5 billion facility signed in November 2014.
- This is the largest Telecommunication sector deal signed in India so far this year, followed by Mahanagar Telephone Nigam’s $704 million borrowing signed in March 2017.
- In India, syndicated loan volume totals $48.7 billion so far this year, slightly increasing from $47.9 billion in last YTD and marking the second lowest YTD level since 2010.
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