The largest Finance sector deal signed in Asia Pacific (ex Japan) in 2017 YTD
State Bank of India (Hong Kong) has signed a $750 million facility through joint bookrunners and mandated lead arrangers Axis Bank, BNP Paribas, Bank of Tokyo-Mitsubishi UFJ, HSBC, National Bank of Abu Dhabi and Standard Chartered Bank. Syndication saw Bank of China, Bank of India, DZ Bank, Korea Development Bank and UCO Bank join as mandated lead arrangers, while AfrAsia Bank, Export-Import Bank of the Republic of China and Land Bank of Taiwan came in as participants. Proceeds are for general corporate and working capital purposes.
This is the largest Finance sector deal signed in Asia Pacific (ex Japan) so far this year, followed by Gallop Finance’s $428 million facility signed in January 2017 and Perpetual Trust Services’ $385 million fundraising signed in February 2017.
Finance sector is the second largest sector for Asia Pacific (ex Japan) loan market with $3.1 billion signed so far this year, accounting for 17% of Asia Pacific (ex Japan)’s total loan volume.
Finance is the second largest sector for Hong Kong loan volume in 2017 YTD
United Asia Finance has signed a HK$1.6 billion facility through joint bookrunners and mandated lead arrangers Mizuho Bank, Standard Chartered Bank and Taipei Fubon Commercial Bank. Syndication saw Bank of East Asia, China Minsheng Banking Corp, Chong Hing Bank join as mandated lead arrangers; while Aozora Trust Bank, China Construction Bank, E Sun Commercial Bank, OCBC Wing Hang Bank, Tai Fung Bank and Taiwan Shin Kong Commercial Bank came in as arrangers. Proceeds are for general corporate purposes and to repay existing debt.
Finance is the second largest sector for Hong Kong loan volume in 2017 YTD. Volume has reached $956 million via 2 deals so far this year, accounting for 36% of the total Hong Kong loan market.
Hong Kong syndicated loan volume stands at $2.6 billion in 2017 YTD, down 45% from the $4.7 billion raised in 2016 YTD and marking the lowest YTD level since 2008 ($2.5 billion).
Utilities & Energy is the largest sector for India loan volume in 2017 YTD
Raipur-Rajnandgaon-Warora Transmission has secured an INR16.9 billion facility with sole bookrunner and mandated lead arranger Axis Bank. Syndication saw Industrial Finance Corp of India, PTC India Financial Services, United Bank of India and Vijaya Bank join as participants. Proceeds are to support the development of 765 kV double circuit transmission lines spanning 306 km from Raipur to Rajnandgaon in Chhattissgarh and from Rajnandgaon to Warora in Maharashtra, India.
Utilities & Energy is the largest sector for India loan volume in 2017 YTD. Volume has reached $923 million via 7 deals so far this year, accounting for 32% of the total Indian loan market.
Utilities & Energy sector loan volume stands at $2.9 billion in 2017 YTD, down 67% year-on-year.
