The third largest deal signed in China in 2017 YTD
- Midea Electrics Netherlands has signed a €3.7 billion facility through sole bookrunner and mandated lead arranger Bank of China. Syndication saw China Construction Bank and Industrial & Commercial Bank of China come in as mandated lead arrangers, while Agricultural Bank of China, China Minsheng Banking Corp, Export-Import Bank of China, and Postal Savings Bank of China joined as participants. Proceeds are to refinance an existing €4.0 billion bridge facility that were to support the Midea Group's acquisition of Kuka.
- This is the third largest deal signed in China so far this year, after Alibaba Group’s $5.2 billion facility signed in April 2017 and Tencent Asset Management’s $4.7 billion fundraising signed in March 2017.
- China syndicated loans volume totals $105.8 billion via 291 deals in 2017 YTD, down 14% from $122.8 billion in the same period of 2016.
The largest Construction Sector deal signed in Hong Kong in 2017 YTD
- Huarong Investment Stock Corp has signed a $445 million facility through sole bookrunner and mandated lead arranger Credit Suisse. Syndication saw Bank of China and Chiyu Banking Corp come in mandated lead arranger, while Bank of Communications, Chang Hwa Commercial Bank, China CITIC Bank International, China Minsheng Banking Corp, King’s Town Bank, Sumitomo Mitsui Banking Corp, and Tai Fung Bank joined as arrangers; EnTie Commercial Bank, OCBC, and Taiwan Cooperative Bank came in as participants. Proceeds are for working capital purposes.
- This is the largest Construction sector loan deal signed in Hong Kong in 2017 YTD, followed by Loyal Pioneer’s $399 million and Win Standard Enterprises’ $385 million facility, both signed in May 2017.
- Hong Kong syndicated loan volume totals $27.5 billion via 54 deals, drop 17% year-on-year from $33.2 billion borrowed in 2016 YTD.
The second largest Food & Beverage Sector deal signed in Singapore in 2017 YTD
- Louis Dreyfus Co Asia has signed a $500 million facility through joint bookrunners and mandated lead arrangers ABN AMRO Bank, Hongkong & Shanghai Banking Corp, OCBC, and Societe Generale. Syndication saw ANZ, Commerzbank, Commonwealth Bank of Australia, DBS, Mizuho Bank, and UOB join as mandated lead arrangers; while Agricultural Bank of China, BNP Paribas, Bank of America, Bank of Tokyo-Mitsubishi UFJ, Barclays Bank, CIMB Bank, Citibank, Cooperative Rabobank Rotterdam, Credit Agricole CIB, Deutsche Bank, ING Bank, KBC Bank, Korea Development Bank, National Australia Bank, Standard Chartered Bank, Sumitomo Mitsui Banking Corp, UniCredit Bank, and Westpac join as arrangers. Proceeds are to refinance the $400 million facility signed in July 2015, for general corporate purposes, investments, capital expenditure, and working capital purposes.
- In Singapore, Food & Beverage sector loan volume stands at $2.6 billion in 2017 YTD, doubled the $1.3 billion borrowed in the same period of 2016.
- Singapore syndicated loan volume has reached $24.6 billion so far this year, accounting for 49% of Southeast Asia region’s total loan volume.
¬ Haymarket Media Limited. All rights reserved.
