China's biggest loan of 2017; Indonesia volumes surge

Tencent Asset Management, Haitong International Securities and Palapa Timur Telematika feature in Dealogic's roundup of loans activity in Asia for March 24 to 30.

The largest syndicated loan deal signed in China in 2017 YTD

  • Tencent Asset Management has signed a $4.7 billion facility through joint bookrunners and mandated lead arrangers Bank of China, Bank of Tokyo-Mitsubishi UFJ, China Construction Bank, Citibank, and HSBC. Syndication saw ANZ, China Development Bank, Mizuho Bank and Standard Chartered Bank join in as mandated lead arrangers; while Bank of Communications, Hang Seng Bank, and Westpac join in as arrangers. Proceeds are for general corporate purposes.
  • This is the largest syndicated loan deal signed in China in 2017 YTD, followed by Guangzhou Metro Group’s $1.9 billion fundraising in February 2017 and Wenzhou Oujiang Estuary Bridge’s $800 million facility in January 2017.
  • China syndicated loan volume stands at $17.7 billion so far this year, down 38% from $28.5 billion borrowed in 2016 YTD.

Finance is the second largest sector in Hong Kong in 2017 YTD

  • Haitong International Securities has signed a HK$6.7 billion facility through joint mandated lead arrangers Agricultural Bank of China, Bank of Communications, China Merchants Bank, Hang Seng Bank, HSBC, Industrial & Commercial Bank of China, and Wing Lung Bank on a club basis. Proceeds are for working capital purposes.
  • This is the largest Finance sector deal signed in Hong Kong so far this year, followed by Stata Bank of India (Hong Kong)’s $750 million facility signed  in February and SSG Capital Partners IV and SSG Secured Lending Opportunities II’s $400 million facility signed in March.
  •  Finance is the second largest sector in Hong Kong in 2017 YTD with $2.4 billion signed, accounting for 27% of total Hong Kong loan volume.

Indonesia loan volume this YTD almost triples the volume in 2016 YTD

  • Palapa Timur Telematika has secured an IDR 4 trillion facility through sole bookrunner and mandated lead arranger Bank Negara Indonesia. Syndication saw BPD Papua, Bank Maluku Malut, Bank Sulselbar, and Industrial & Commercial Bank of China come in as participants. Proceeds are to support the funding of the East Package of Palapa Ring Project in Indonesia.
  • This is the first Telecommunication sector deal signed in Indonesia so far this year, as well as the first one signed in the Southeast Asia region.
  • Indonesia syndicated loan volume has reached a record of $4.8 billion so far this year, almost triples the $1.7 billion borrowed in the same period of 2016.
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