The largest Auto/Truck sector loan signed in Asia Pacific (ex Japan) in 2017 YTD
- Grand Baoxin Auto Group has secured a $763 million facility through joint bookrunners and mandated lead arrangers Bank of Shanghai, Bank of Tianjin, China Minsheng Banking Corp, Chong Hing Bank, Export-Import Bank of China, and Standard Chartered Bank. Syndication saw Bank of East Asia, China Everbright Bank, Hang Seng Bank, Industrial Bank, and Nanyang Commercial Bank join as mandated lead arrangers; while Bank of China, Bank of Taiwan, Chang Hwa Commercial Bank, China CITIC Bank International, OCBC, Tai Fung Bank, Taiwan Business Bank and Taiwan Cooperative Bank came in as arrangers. Bank of Kaohsiung, EnTie Commercial Bank, and Macau Chinese Bank joined as participants. Proceeds are to repay existing debt and for general corporate purposes.
- This is the largest Auto/Truck sector loan signed in Asia Pacific (ex Japan) so far this year, followed by China ZhengTong Auto Services Holdings’ $409 million facility signed in January 2017 and Hai Chao Trading’s $367 million facility signed in May 2017.
- Auto/Truck sector syndicated loan volume stands at $3.0 billion in 2017 YTD, slightly up from the $2.7 billion borrowed in 2016 YTD.
Real Estate leads the Asia-Pacific (ex Japan) syndicated loan volume
- Golden Centurion has signed a HKD 6.3 billion facility through joint mandated lead arrangers BNP Paribas, Bank of Tokyo-Mitsubishi UFJ, DBS, HSBC, Hang Seng Bank, and Standard Chartered Bank on a club basis. Proceeds are to finance a property project in Kwun Tong, Hong Kong.
- Real Estate sector leads the Hong Kong syndicated loan market with $5.9 billion signed in 2017 YTD, accounting for 44% of Hong Kong’s total loan volume.
- Real Estate is also the largest sector for Asia Pacific (ex Japan) loan volume in 2017. Volume has reached $16.7 billion via 63 deals, down 39% from the $27.3 billion borrowed in 2016 YTD.
The second largest Finance sector deal signed in India this YTD
- Axis Bank has signed a $250 million facility through joint mandated lead arrangers BNP Paribas, Bank of America, Citibank, Credit Agricole, and Standard Chartered Bank on a club basis. Proceeds are for general corporate purposes.
- This is the second largest Finance deal signed in India so far this year, behind Bank of Baroda’s $300 million facility signed in February 2017.
- India syndicated loan volume stands at $16.6 billion in 2017 YTD, down 24% from $21.8 billion borrowed in 2016 YTD.
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