Asia Pacific (ex-Japan) syndicated loan volume down 14% Y-o-Y
- Golden Eagle International Trading has signed a $657 million facility through joint bookrunners and mandated lead arrangers Bank of Jiangsu, Hang Seng Bank, HSBC, Industrial Bank, and Taipei Fubon Commercial Bank. Syndication Bank of East Asia, China Everbright Bank, China Merchants Bank, China Minsheng Banking Corp, East West Bank, and Shanghai Pudong Development Bank join as mandated lead arrangers, while Bank of Shanghai, Bank of Taiwan, EnTie Commercial Bank, Land Bank of Taiwan, Taiwan Cooperative Bank, and Yuanta Commercial Bank came in as arrangers. Proceeds are to refinance an existing $761 million facility signed in April 2015.
- In 2018 YTD, Hong Kong syndicated loan volume stands at $14.0 billion via 25 deals, up slightly from $13.0 billion borrowed in 2017 YTD.
- Asia Pacific (ex-Japan) syndicated loan volume stands at $111.5 billion so far this year, down 14% from $129.5 billion borrowed in the same period of 2017.
India syndicated loan volume down 71% Y-o-Y
- NTPC has signed a $350 million facility through joint bookrunners and mandated lead arrangers Bank of Tokyo-Mitsubishi UFJ, Mizuho Bank, and Sumitomo Mitsui Banking Corp. Syndication saw Aozora Bank, Bank of Yokohama, Chugoku Bank, Joyo Bank, San-In Godo Bank, and Shinsei Bank join as arrangers; while Gunma Bank and Hyakujushi Bank join as participants. Proceeds are for capital expenditure purposes.
- The deal is the second largest Utility & Energy sector deal signed in India so far this year, after Warora-Kurnool Transmission’s $429 million facility signed in March 2018.
- In 2018 YTD, India syndicated loan volume stands at $5.9 billion, down 71% from the $20.6 billion borrowed in 2017 YTD.
Singapore syndicated loan volume increases 67% Y-o-Y
- Olam International and Olam Treasury have closed a $500 million facility through joint mandated lead arrangers ANZ, BNP Paribas, Bank of Tokyo-Mitsubishi UFJ, Commerzbank, DBS, HSBC, ING Bank, Mizuho Bank, National Australia Bank, Natixis, Rabobank International, Standard Chartered Bank, and UniCredit Bank on a club basis. Proceeds are for working capital purposes.
- This is the largest Food & Beverage sector deal signed in Singapore in 2018 YTD, followed by Olam International’s $163 million facility signed in March 2018.
- In 2018 YTD, Singapore syndicated loan volume stands at $16.5 billion via 21 deals, up 67% from $9.9 billion borrowed in 2017 YTD.
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