China Real Estate sector loan volume increased 30% Y-o-Y
- China Overseas Land & Investment has signed a HK$18.0 billion facility through joint mandate lead arrangers Agricultural Bank of China, Bank of China, Bank of Communications, Bank of East Asia, China Construction Bank, China Development Bank, DBS Bank, HSBC, Industrial & Commercial Bank of China, Nanyang Commercial Bank, OCBC, Sumitomo Mitsui Banking Corp and UOB on a club basis. Proceeds are for general corporate purposes, to repay existing debt and to support the funding of real estate projects.
- This is the largest Real Estate sector deal signed in China so far this year, followed by Shanghai Zhongting Property Development’s $1.9 billion facility signed in June 2017 and Changzhou Anju Investment & Development’s $1.7 billion fundraising signed in May 2017.
- China Real Estate sector syndicated loan volume totals $27.7 billion in 2017 YTD, increased by 30% from $21.4 billion borrowed in 2016 YTD.
China Onshore syndicated loan volume down 16% Y-o-Y
- Guizhou Expressway Group has secured a RMB 17.4 billion facility through sole mandated lead arranger China Development Bank. Syndication saw Agricultural Bank of China, Bank of China, Bank of Communications, and Industrial & Commercial Bank of China join as participants. Proceeds are to support the project that entails the expansion of Lanzhou to Haikou National Expressway with a total length of 120 km in Guizhou Province, China. The expansion will be taken place from Chongqing to Zunyi section of the Expressway.
- China onshore syndicated loan volume reaches $94.0 billion so far this year, down 16% from $111.6 billion borrowed in 2016 YTD.
- China total syndicated loan volume stands at $141.4 billion via 395 deals in 2017 YTD, down 12% year-on-year.
Singapore syndicated loan volume down 14% Y-o-Y
- Mercuria Asia Group Holdings and Mercuria Energy Trading have signed a $740 million facility through joint bookrunners and mandated lead arrangers ANZ, Bank of Tokyo-Mitsubishi UFJ, DBS, Emirates NBD, ING, Industrial & Commercial Bank of China, Mizuho Bank, OCBC, Rabobank, Societe Generale, and Sumitomo Mitsui Banking Corp. Syndication saw Bank of China and CTBC Bank come in as mandated lead arrangers. Commerzbank, Commonwealth Bank of Australia, Credit Agricole CIB, KBC Bank, Mashreqbank, National Australia Bank, Natixis, Sumitomo Mitsui Trust Bank, UBS, UOB, Union de Banques Arabes et Francaises, and Westpac Banking Corp came in as arrangers. Proceeds are for general corporate and refinancing purposes. Proceeds are to repay existing debt and for general corporate purposes.
- This is the largest Finance sector deal signed in Singapore so far this year, followed by Hevea Global, Hevea International and New Continent Enterprises’ $215 million facility signed in April 2017 and Marine Container Management’s $154 million fundraising signed in September 2017.
- Singapore syndicated loan volume stands at $35.9 billion so far this year, down 14% from $41.8 billion borrowed in 2016 YTD and marking the lowest YTD level since 2013 ($35.0 billion).