China offshore loans up 13.3% YoY, Australian loans up 25% YoY

Australia's oOh!media, NetEase and King Yuan Electronics secure loans this week as loan volumes ex-Japan continue to be a mixed bag.

Acquisition related loan in Asia Pacific (ex Japan) down 22.3%

  • oOh!media has secured a A$450 million facility through joint bookrunners and mandated lead arrangers Commonwealth Bank of Australia and Westpac. Syndication saw Bank of China, ING Bank Australia, National Australia Bank and Sumitomo Mitsui Banking Corp coming in as arrangers. Proceeds are to support the $442 million acquisition of Adshel Steet Furniture.
  • Acquisition related loans* amount to $25.6 billion in Asia Pacific (ex Japan) so far this year, down 22.6% from $33.0 billion in 2017 YTD.
  • In Australasia, loan volume stands at $80.7 billion so far this year, up 25% from $64.7 billion borrowed in the same period of 2017.

*Includes deals where use of proceeds is one of acquisitions, future acquisitions, spinoffs, and LBOs.

China offshore loans increase 13.3% YoY

  • NetEase has signed a $ 500 million facility through joint bookrunners and mandated lead arrangers ANZ, Citigroup, DBS and HSBC. Syndication saw Bank of Communications, China Construction Bank, China Minsheng Banking Corp, Industrial & Commercial Bank of China and KDB Asia came in as mandated lead arrangers while China Merchants Bank, Credit Industrial et Commercial, MUFG Bank and Mizuho Bank joined as arrangers. Proceeds are for general corporate purposes, to repay existing debt and for working capital purposes.
  • China offshore syndicated loan totals $45.1 billion in 2018 YTD via 71 deals, up 13.3% from $39.8 billion in 2017 YTD.

Technology syndicated loan down 21% YoY

  • King Yuan Electronics has signed a TW$14.2 billion facility through joint bookrunners and mandated lead arrangers Bank SinoPac, Bank of Taiwan, CTBC Bank, Cathay United Bank, Chang Hwa Commercial Bank, E.Sun Commercial Bank, First Commercial Bank, Hua Nan Commercial Bank, Land Bank of Taiwan, Mega International Commercial Bank, O-Bank, Taipei Fubon Commercial Bank, Taishin International Bank and Taiwan Shin Kong Commercial Bank. Syndication saw Bank of Panhsin and KGI bank join as participants. Proceeds are to repay existing debt and for working capital purposes.
  • In Taiwan, syndicated loan volume stands at $23.9 billion in 2018 YTD, slightly down 5% from $25.1 billion in the same period of 2017.
  • Computer & Electronics sector loans amount to $25.3 billion in Asia Pacific (ex Japan) so far this year, a significant decrease from $32.1 billion in 2017 YTD.
Source: dealogic

 

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