China loans down; Singapore, property lead SE Asia

China Resources Land, Olam International and Permadani Khatulistiwa Nusantara feature in Dealogic's roundup of loans activity in Asia for August 11-18.

China syndicated loan volume down 13% Y-o-Y

  • China Resources Land has secured a HK$11.0 billion facility through joint mandated lead arrangers Agricultural Bank of China, Bank of China, Bank of Tokyo-Mitsubishi UFJ, China Construction Bank, DBS Bank, Industrial & Commercial Bank of China, Sumitomo Mitsui Banking Corp, and UOB on a club basis. Proceeds are to repay existing debt and for working capital purposes.
  • China offshore syndicated loan volume reaches $28.2 billion so far this year, up 26% from $22.4 billion borrowed in 2016 YTD.
  • Conversely, China total syndicated loan volume stands at $97.8 billion via 269 deals in 2017 YTD, down 13% year-on-year.

Singapore leads Southeast Asia syndicated loan volume

  • Olam International and Olam Treasury have signed a $400 million facility through joint mandated lead arrangers ANZ, Credit Suisse, DBS, HSBC, JPMorgan, and Standard Chartered Bank on a club basis. Proceeds are to refinance existing debt.
  • Singapore syndicated loan volume stands at $22.8 billion via 42 deals in 2017 YTD, accounting for 50% of Southeast Asia syndicated loan volume.
  •  In Asia Pacific (ex-Japan), total loan volume stands at $260.6 billion via 803 deals in 2017 YTD, down 15% year-on-year from $304.8 billion borrowed in the same period of 2016.

Real Estate sector leads Southeast Asia syndicated loan volume in 2017 YTD

  • Permadani Khatulistiwa Nusantara has signed a $260 million facility through joint bookrunners and mandated lead arrangers Bank Mandiri, Bank Negara Indonesia, and Standard Chartered Bank. Syndication saw Bank Syariah Mandiri come in as participant. Proceeds are to repay existing debt, and to support the financing of the development of properties including luxury hotel, residential and office.
  • Real Estate is the largest sector for Southeast Asia loan volume in 2017 YTD. Volume has reached $7.3 billion via 21 deals, up 9% year-on-year from $6.7 billion borrowed in 2016 YTD.
  • In Southeast Asia, total loan volume stands at $45.6 billion via 124 deals in 2017 YTD, down 12% year-on-year from $52.0 billion borrowed in 2016 YTD and marking the lowest YTD level since 2010 ($32.9 billion).

 

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