China, Southeast Asia syndicated loans hit new heights

Tibet Julong Copper, Bank Negara Indonesia and Therma Power feature in Dealogic's roundup of loans activity in Asia for December 23 to 30.

China syndicated loan volume up 27% Y-o-Y 

  • Tibet Julong Copper has signed a RMB 10.5 billion facility through sole mandated lead arranger Bank of China. Syndication saw Bank of Tibet, China Development Bank, China Minsheng Banking Corp, Industrial & Commercial Bank of China and Shanghai Pudong Development Bank join as participants. Proceeds are to support the Qulong copper mining and polymetallic mining project in Lhasa, Tibet, China.
  • China syndicated loan volume stands at $170.9 billion via 397 deals in 2016, up 27% from $134.4 billion borrowed in 2015.
  • Asia Pacific (ex Japan) syndicated loans volume totals $501.0 billion in 2016 YTD, down 5% from $524.8 billion in 2015.

The largest Finance Sector loan signed in Indonesia in 2016

  • Bank Negara Indonesia has signed a $750 million facility through joint bookrunners and mandated lead arrangers ANZ, BNP Paribas, Bank of Tokyo-Mitsubishi UFJ, CTBC Bank, Citi, Commerzbank, DBS, OCBC and UOB. Proceeds are for general corporate purposes and for debt repayment purposes.
  • This is the largest Finance sector loan signed in Indonesia in 2016, followed by Indonesia Eximbank’s $725 million facility in August 2016 and Adira Dinamika Multi Finance’s $225 million fundraising in July 2016.
  • Finance sector syndicated loan volume in Asia Pacific (ex Japan) totals $49.9 billion via 159 deals in 2016, down 7% from $53.8 billion borrowed in 2015.

Southeast Asia syndicated loan volume at second highest on record

  • Therma Power has signed a $650 million facility through joint bookrunners and mandated lead arrangers Bank of Tokyo-Mitsubishi UFJ, DBS, HSBC, Maybank Kim Eng Securities, Mizuho Bank, Standard Chartered Bank, while Bank of China and China Construction Bank joined as mandated lead arrangers. Syndication saw CTBC Bank, Chang Hwa Commercial Bank, First Commercial Bank, Hua Nan Commercial Bank, Mega International Commercial Bank, Taiwan Business Bank and Taiwan Cooperative Bank join as arrangers, while Export-Import Bank of the Republic of China and Sunny Bank came in as participants. Proceeds are to partially finance the $1.2 billion acquisition of GNPower Mariveles Coal Plant from Sithe Global Power.
  • This is the largest deal signed in Philippines in 2016, followed by Light Rail Manila’s $505 million facility in February 2016 and Globe Telecom’s $428 million fundraising in September 2016.
  • Southeast Asia syndicated loan volume stands at $89.2 billion in 2016, up 16% from $76.9 billion borrowed in 2015, also marking the second highest level on record. 
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