The largest deal signed in China in 2018 YTD
* Zhejiang Petrochemical sealed a $9.1 billion facility through joint mandated lead arrangers China Development Bank, Export-Import Bank of China, and Industrial & Commercial Bank of China. Syndication saw Bank of China join as an arranger, while China Construction Bank, China Guangfa Bank, China Minsheng Banking Corp, Postal Savings Bank of China, and Shanghai Pudong Development Bank came in as participants. Proceeds are to finance the development of a 40 million-tonne per year integrated refining and petrochemical complex in Zhejiang Province, China.
* The deal is the largest signed in China so far this year, followed by Hengli Petrochemical (Dalian) Refining & Chemical’s $6.1 billion facility signed in April 2018 and CNAC Century (HK)’s $5.5 billion refinancing from March 2018.
* China syndicated loan volume totals $90.6 billion in 2018 YTD, up slightly from $88.0 billion last YTD, marking the second highest YTD level on record.
Third largest Finance sector deal signed in India in 2018 YTD
* PNB Housing Finance has sealed an INR 24.0 billion facility through sole mandated lead arranger ICICI Bank. Syndication saw Punjab & Sind Bank and Vijaya Bank join as participants. Proceeds are for on-lending purposes.
* The Finance sector leads India syndicated loan volume with $2.2 billion in 2018 YTD, up 16% from $1.9 billion in 2017 YTD.
* Asia Pacific (ex-Japan) Finance sector loans total $22.4 billion in this YTD, up 26% from $17.8 billion in 2017 YTD.
India syndicated loan volume down 66% Y-o-Y
* Reliance Jio Infocomm has closed a $999 million facility through joint mandated lead arrangers ANZ, BNP Paribas, Citibank, Commerzbank, HSBC, ING Bank, JPMorgan Chase Bank, MUFG Bank, Mizuho Bank, and Santander, on a club basis. Proceeds are to finance goods and services procured primarily from Samsung Electronics and Ace Technologies.
* India syndicated loans total $11.7 billion in 2018 YTD, down 66% from $34.4 billion borrowed in the same period of 2017.
* Asia Pacific (ex Japan) Telecoms sector loans total $4.9 billion in 2018 YTD, down 40% from $8.1 billion last YTD.