China loan volume up; Singapore's biggest property loan YTD

Kingboard Chemical, Sim Lian (Treasure) and Winbond Electronics feature in Dealogic's roundup of loans activity in Asia for June 22 to 28.

China offshore syndicated loan volume up 13% Y-o-Y

  • Kingboard Chemical has sealed a HK$7.0 billion facility through joint bookrunners and mandated lead arrangers Bank of East Asia, DBS, Hang Seng Bank, Industrial & Commercial Bank of China, MUFG Bank, Mega International Commercial Bank, Mizuho Bank, Standard Chartered Bank, and Sumitomo Mitsui Banking Corp. Syndication saw Cathay United Bank, Credit Industriel et Commercial, First Commercial Bank, Hua Nan Commercial Bank, OCBC Wing Hang Bank, and Woori Bank join as arrangers. Proceeds are to repay existing debt, for capital expenditure and general corporate purposes.
  • China offshore syndicated loan volume stands at $25.2 billion so far this year, increasing 13% from $22.3 billion borrowed in the same period of 2017.
  • China loan volume has reached $77.1 billion in 2018 YTD, slightly down from the $78.9 billion borrowed in 2017 YTD.

The largest Real Estate sector loan signed in Singapore in 2018 YTD

  • Sim Lian (Treasure) has signed a S$1.3 billion facility through joint mandated lead arrangers DBS, OCBC, and UOB on a club basis. Proceeds are for capital expenditure purposes.
  • This is the largest Real Estate sector deal signed in Singapore so far this year, followed by Frasers Property Quayside’s $720 million facility signed in March 2018 and Rio Casa Venture’s $667 million facility signed in January 2018.
  • In 2018 YTD, Singapore loan volume stands at $21.9 billion via 34 deals, down 6% from $20.6 billion borrowed in 2017 YTD.

Technology sector leads Taiwan syndicated loan market

  • Winbond Electronics has signed a NT$10.2 billion facility with joint bookrunners and mandated lead arrangers Bank of Taiwan, CTBC Bank, Chang Hwa Commercial Bank, DBS, Mega International Commercial Bank, Taishin International Bank, and Taiwan Cooperative Bank. Syndication saw E Sun Commercial Bank, First Commercial Bank, and Taiwan Business Bank join as mandated lead arrangers. Proceeds are to support the issuance of a NT$10.0 billion corporate bond.
  • Technology sector leads Taiwan syndicated loan market with $8.1 billion signed in 2018 YTD, accounting for 54% of the total loan volume in the region.
  • Taiwan syndicated loan volume stands at $15.1 billion via 64 deals in 2018 YTD, more than double the $6.4 billion borrowed from last YTD.
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