Asia Pacific (ex Japan) syndicated loan at lowest YTD level since 2013
- FWD Group Management Holdings has closed a $275 million facility through joint mandated lead arrangers Industrial & Commercial Bank of China, Mizuho Bank, Scotiabank, Standard Chartered Bank, and UOB on a club basis. Proceeds are to refinance the $250 million facility signed in July 2015.
- Hong Kong syndicated loan volume stands at $27.9 billion so far this year, down 11% from $31.2 billion borrowed in the same period of 2017.
- In Asia Pacific (ex Japan), the total loan volume totals $284.2 billion in 2018 YTD, down 6% from $301.8 billion in 2017 YTD and marking the lowest YTD level since 2013 ($260.0 billion).
Indonesia syndicated loan volume down 30% Y-o-Y
- Batamindo Investment Cakrawala and Gallant Venture have signed a $301 million facility through joint bookrunners and mandated lead arrangers Bank Mandiri, ING Bank, and Standard Chartered Bank. Syndication saw Bank Permata joined as mandated lead arranger; while Arab Bank, Hitachi Capital Asia Pacific, Mitsubishi UFJ Lease, and NEC Capital Solutions came in as arrangers. Proceeds are to repay existing debt, for capital expenditure and general corporate purposes.
- Indonesia syndicated loan volume totals $9.6 billion so far in 2018, down 30% from $13.8 billion borrowed in 2017 YTD.
- In Southeast Asia, syndicated loan volume stands at $56.7 billion in 2018 YTD, increasing 4% year-on-year and marking the highest YTD level since 2014 ($73.7 billion).
The third-largest Technology sector deal signed in Taiwan in 2018 YTD
- AU Optronics Corp has secured a NT$42.0 billion facility through sole bookrunner and mandated lead arranger Bank of Taiwan. Syndication saw Bank SinoPac, CTBC Bank, Cathay United Bank, Chang Hwa Commercial Bank, DBS, E.Sun Commercial Bank, First Commercial Bank, Hua Nan Commercial Bank, Land Bank of Taiwan, Mega International Commercial Bank, Taipei Fubon Commercial Bank, Taishin International Bank, Taiwan Cooperative Bank, and Yuanta Commercial Bank join as mandated lead arrangers; while Agricultural Bank of Taiwan, KGI Bank, Standard Chartered Bank, Taiwan Business Bank, and Taiwan Life Insurance came in as arrangers. Citi, Far Eastern International Bank, Shanghai Commercial & Savings Bank, and Taiwan Shin Kong Commercial Bank also joined as participants. Proceeds are to repay existing debt.
- This is the third-largest Taiwan Technology sector deal signed in 2018 YTD, after ASE Industrial Holding’s $3.0 billion facility signed in April 2018 and Innolux’s $1.4 billion facility signed in July 2018.
- In Taiwan, Technology sector loan volume stands at $11.9 billion via 27 deals in 2018 YTD, more than doubled the $4.5 billion borrowed in the same period of 2017.
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