China's third largest loan of 2017; Major India loan

Guangzhou Metro Group, Simar Port and Star Energy Geothermal feature in Dealogic's roundup of loans activity in Asia for May 12-18.

 The third largest deal signed in China in 2017 YTD

  • Guangzhou Metro Group has secured a RMB 17.0 billion facility through sole mandated lead arranger Bank of China. Syndication saw Bank of Communications join as arranger; while Agricultural Bank of China, China Construction Bank, China Everbright Bank, and Postal Savings Bank of China came in as participants. Proceeds are for capital expenditure purposes.
  • This is the third largest syndicated loan signed in China so far this year, after Tencent Asset Management’s $4.7 billion facility and Shenzhen Metro Group’s $3.2 billion facility, both signed in March 2017.
  • China syndicated loan volume stands at $36.4 billion, down 39% from the $59.9 billion borrowed in 2016 YTD.

The largest Transportation sector deal signed in India in 2017 YTD

  • Simar Port has wrapped up an INR 28.7 billion facility through joint mandated arrangers Central Bank of India, Corporation Bank, India Infrastructure Finance, Indian Bank, Punjab National Bank, Syndicate Bank, and Union Bank of India on a club basis. Proceeds are to support the construction of a bulk terminal with facilities to handle 15 MMTPA bulk cargo, 4.5 Km breakwater, allied onshore & offshore facilities, and back up land required for the Chhara Port in the State of Gujarat, India.
  • This is the largest Transportation sector loan signed in India so far this year, followed closely by JSW Jaigarh Port’s $325 million facility signed in January 2017.
  • In Asia Pacific (ex Japan), Transportation sector syndicated loan volume stands at $13.8 billion via 34 deals in 2017 YTD, marking the lowest YTD level since 2009 ($5.3 billion).  

The second largest Utility & Energy sector loan signed in Southeast Asia in 2017 YTD

  • Star Energy Geothermal has signed a $660 million facility through joint bookrunners and mandated lead arrangers Cathay United Bank, Credit Suisse, DBS, Industrial & Commercial Bank of China and Maybank Kim Eng Securities. Syndication saw BNP Paribas and First Commercial Bank join as mandated lead arrangers; while Bank of Tokyo-Mitsubishi UFJ, CTBC Bank, Intesa Sanpaolo, Indonesia Infrastructure Finance, Sumitomo Mitsui Banking Corp, and Ta Chong Bank came in as arrangers. Proceeds are to support the acquisition of the Salak and Darajat geothermal fields in West Java and also to refinance $350m seven-year non-call four bonds issued in March 2013 for Star Energy Geothermal (Wayang Windu).
  • This is the second largest Utility & Energy sector loan signed in Southeast Asia so far this year, after Bhumi Jati Power’s $1.7 billion fundraising signed in February 2017.
  • Utility & Energy is the third largest sector for syndicated loan volume in Asia Pacific (ex Japan) with $13.1 billion signed in 2017 YTD, accounting for 12% of total loan volume.


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