China Offshore syndicated loan volume slightly up YTD
- CITIC has closed a $200 million facility through sole bookrunner and mandated lead arranger Taipei Fubon Commercial Bank. Syndication saw First Commercial Bank, Hua Nan Commercial Bank, and Taiwan Cooperative Bank join as arrangers while E Sun Commercial Bank and Taishin International Bank came in as participants. Proceeds are to repay existing debt and for general corporate purposes.
- China offshore loan volume stands at $3.0 billion in 2018 YTD, slight increase from 2017 YTD’s $2.9 billion.
- In China, syndicated loan volume totals $22.8 billion via 50 deals in 2018 YTD, up 32% from $17.3 billion borrowed in the same period of 2017.
The second largest deal signed in India in 2018 YTD
- Axis Bank has secured a $525 million facility through joint mandated lead arrangers BNP Paribas, Citibank, Credit Agricole, First Abu Dhabi Bank, Standard Chartered Bank, and Wells Fargo Bank on a club basis. Proceeds are for general corporate purposes.
- This is the second largest deal signed in India in 2018 YTD, after TML Holdings’ $906 million facility signed in January 2018.
- In India, syndicated loan volume stands at $3.1 billion via 12 deals in 2018 YTD, down 63% from $8.4 billion borrowed in the same period of 2017.
The largest syndicated loan signed in Taiwan in 2018 YTD
- Taiwan Cement has secured a NT$43.0 billion facility through joint bookrunners and mandated lead arrangers BNP Paribas, Bank of China, Bank of Taiwan, CTBC Bank, Cathay United Bank, Credit Agricole CIB, Hua Nan Commercial Bank, Land Bank of Taiwan, Mega International Commercial Bank, Mizuho Bank, OCBC, Sumitomo Mitsui Banking Corp, Taipei Fubon Commercial Bank, and Taiwan Cooperative Bank. Syndication saw Bank SinoPac, Bank of Tokyo-Mitsubishi UFJ, China Construction Bank, E Sun Commercial Bank, KGI Bank, Shanghai Commercial & Savings Bank, Standard Chartered Bank, and Yuanta Commercial Bank join as arrangers, while Bank of Communications, EnTie Commercial Bank, and Taichung Commercial Bank came in as participants. Proceeds are to refinance an existing NT$140.0 billion facility signed in January 2013 and for investment purposes.
- The deal is the largest syndicated loan signed in Taiwan so far this year, followed by Casetek Holdings’ $360 million facility signed in January 2018 and General Interface Solution (GIS) Holding’ $300 million fundraising signed in February 2018.
- Taiwan syndicated loan volume totals $3.1 billion in 2018 YTD, more than double the $1.4 billion borrowed in 2017 YTD.
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