2nd-biggest Australia loan, biggest chemical-sector deal sealed

Telstra, Anhui Haoyuan Chemical Group and China ZhengTong Auto Services feature in Dealogic's roundup of loans activity in Asia for February 17 to 23.

The second largest syndicated loan signed in Australia in 2017 YTD

  • Telstra has signed an A$1.5 billion facility through joint bookrunners and mandated lead arrangers ANZ, BNP Paribas, Bank of China, Bank of Tokyo-Mitsubishi UFJ, Commonwealth Bank of Australia, Mizuho Bank, National Australia Bank, and Westpac. Syndication saw Bank of America, Bank of Nova Scotia, China Construction Bank, Citibank, DBS, HSBC, Royal Bank of Canada and Sumitomo Mitsui Banking Corp join as mandated lead arrangers, while Goldman Sachs, and JP Morgan Chase Bank came in as arrangers. Proceeds are for general corporate purposes.
  • This is the second largest deal signed in Australia so far this year, after SPIC Pacific Hydro’s $1.2 billion facility signed in January 2017.
  •  Australia syndicated loan volume stands at $2.6 billion via 3 deals so far this year, down 58% from $6.2 billion borrowed in 2016 YTD.

The largest Chemical sector deal signed in Asia Pacific (ex Japan) in 2017 YTD

  • Anhui Haoyuan Chemical Group has signed a RMB 2.5 billion facility through joint mandated lead arrangers China Construction Bank, China Everbright Bank, Export-Import Bank of China and Hefei Science & Technology Rural Commercial Bank on a club basis. Proceeds are to support the chemical production project with an annual output of 260,000 tons of styrene and 60,000 tons of ethylene oxide.
  • This is the largest Chemicals sector deal signed in Asia Pacific (ex Japan) so far this year, followed by Chang Wah Technology’s $111 million facility signed in January 2017.
  • Asia Pacific (ex Japan) syndicated loan volume stands at $11.6 billion via 45 deals so far this year, down 67% from $34.8 billion borrowed in 2016 YTD.

The largest Auto/Truck sector syndicated loan signed in China in 2017 YTD

  • China ZhengTong Auto Services has signed a $409 million facility through joint bookrunners and mandated lead arrangers Chang Hwa Commercial Bank, China Guangfa Bank, Industrial Bank, and Morgan Stanley. Syndication saw Bank of Kaohsiung, Bank of Shanghai, Bank of Taiwan, E Sun Commercial Bank, Hua Nan Commercial Bank, Korea Development Bank, State Bank of India, Taiwan Business Bank, Taiwan Cooperative Bank, and Wing Lung Bank come in as arrangers. Proceeds are for general working capital and repaying existing debt that it took to acquire SCAS Investment Group in 2011.
  • This is the largest Auto/Truck sector syndicated loan signed in China so far this year, followed by Weichai Power Hong Kong International Development’s $333 million facility signed in January 2017.
  • China syndicated loan volume stands at $4.4 billion via 15 deals so far this year, down 59% year-on-year.
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