Asia Pacific (ex Japan), Auto & Truck sector loans soar high in 2018
Baoxin Auto Finance I and Grand Baoxin Auto Group has signed a $358 million facility through joint bookrunners and mandated lead arrangers China CITIC Bank, Export-Import Bank of China, First Abud Dhabi Bank and Standard Chartered Bank. Syndication saw State Bank of India joining as mandated lead arranger while Agricultural Bank of China, Bank of East Asia, Bank of Shanghai Co, Chiyu Banking Corp, Korea Development Bank, Luso International Banking and Taiwan Cooperative Bank came in as arrangers. Proceeds are to refinance existing debt and for general corporate purposes.
In China, Auto & Truck sector loans stand at $6.2 billion in 2018 YTD, up 72.2% from $3.6 billion in the same period of 2017.
Asia Pacific (ex Japan), Auto & Truck sector loans stand at $10.5 billion in 2018 YTD, up 69.4% from $6.2 billion in the same period of 2017.
Biggest telecommunications loan signed in North Asia this year.
Taiwan Broadband Communications Co Ltd has secured a NT$31 billion loan through sole bookrunner and mandated lead arranger Taipei Fubon Commercial Bank. Syndication saw CTBC Bank, Cathay United Bank, EnTie Commercial Bank, Taishin International Bank and Yuanta Commercial Bank come in as mandated lead arrangers while Bank SinoPac, Bank of East Asia, DBS Bank (Taipei), Hua Nan Commercial Bank, Land Bank of Taiwan, Shanghai Commercial & Savings Bank and Taiwan Cooperative Bank joined as participants. Proceeds are to refinance existing debt, and for working capital and capital expenditure purposes.
In Asia Pacific (ex Japan), telecommunications loan totals $7.6 billion in 2018, down 56.1% from $17.3 billion in 2017 YTD.
In North Asia, syndicated loans volume stands at $205.2 billion so far this year, down 14.5% from last YTD’s $240.1 billion.
South East Asia syndicated loans keep consistent YoY
AEV International Pte has signed a $338 million loan through joint bookrunners and mandated lead arrangers Bank of China, DBS, MUFG Bank, Mizuho Bank, Standard Chartered Bank and Sumitomo Mitsui Banking Corp. Syndication saw ING Bank NV (Singapore) come in as mandated lead arranger. Proceeds are to support the acquisition of Gold Coin Malaysia Group.
In Asia Pacific (ex Japan), food sector loan volume stands at 11.6 billion in 2018 YTD, up 22.1% from the $9.5 billion borrowed in 2017 YTD.
In South East Asia, syndicated loans volume stands at $84.0 billion so far this year, almost the same as the $85.8 billion in 2017 YTD.