Construction is the third largest sector in Asia-Pacific (ex Japan) in 2017 YTD
- NorthernPathways Finance has signed an A$742 million facility through joint mandated lead arrangers ANZ, Commonwealth Bank of Australia, Investec Australia, and Macquarie Corporate Holdings on a club basis. Proceeds are to support the A$742 million PPP project that entails the construction of a correctional center with the capacity of 1700 inmates in Grafton, New South Wales, Australia.
- This is the largest Construction sector loan signed in Australia so far this year, followed by Ventia’s $301 million fundraising signed in March 2017 and Metronode’s $134 million facility signed in April 2017.
- Construction is the third largest sector for Asia-Pacific (ex Japan) syndicated loan volume in 2017 YTD, with volume totaling $22.1 billion via 89 deals in 2017 YTD, accounting for 11% of the region’s total syndicated loan market.
The third largest syndicated loan deal signed in China in 2017 YTD
- CCCC Investment has signed a RMB 29.4 billion facility through joint mandated lead arrangers Agricultural Bank of China, Bank of China, China Construction Bank, China Development Bank, Industrial & Commercial Bank of China, and Postal Savings Bank of China on a club basis. Proceeds are to finance the construction of a 346km expressway located at Taihang Mountains, Jingqin, Tang Gallery, Heibei Province, China.
- This is the third largest syndicated loan deal signed in China in 2017 YTD, followed by Alibaba Group Holding’s $5.2 billion and Tencent Asset Management’s $4.7 billion facility, both signed in March 2017.
- China syndicated loan volume totals $71.5 billion via 211 deals, drop 17% year-on-year from $86.2 billion borrowed in 2016 YTD.
Finance sector syndicated loan volume down 50% Y-o-Y in Asia Pacific (ex Japan)
- State Bank of India (Hong Kong) has signed a $500 million facility through joint bookrunners and mandated lead arrangers AXIS Bank, BNP Paribas, Bank of Tokyo-Mitsubishi UFJ, Barclays, Credit Agricole, DBS, First Abu Dhabi Bank, HSBC, Mizuho Bank, Standard Chartered Bank, UOB, Wells Fargo, and Westpac. Syndication saw Agricultural Bank of China, Bank of Communications, Bank of India and Punjab National Bank join as mandated lead arrangers, while Chang Hwa Commercial Bank, Export-Import Bank of the Republic of China, Gunma Bank, and Taishin International Bank came in as arrangers. Proceeds are for general corporate purposes.
- In Asia Pacific (ex Japan), Finance sector syndicated loan volume totals $13.9 billion via 523 deals, drop 50% year-on-year and marking the lowest YTD level since 2013 ($13.8 billion).
- The syndicated loan volume in Asia Pacific (ex Japan) stands at $195.8 billion in 2017 YTD, down 20% from $243.8 billion borrowed in 2016 YTD.
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