Chinese loans volume dip; Property leads in SE Asia

CCCC Jianjijiao Highway Investment & Development and Starhill Global Real Estate Investment Trust feature in Dealogic's roundup of loans activity in Asia for July 21-27.

The third largest deal signed in China this YTD

  • CCCC Jianjijiao Highway Investment & Development has secured a RMB29.3 billion facility through a sole mandated lead arranger China Construction Bank. Syndication saw Agricultural Bank of China, Bank of China, and Industrial & Commercial Bank of China join as participants. Proceeds are to support the construction of 5 sections of the Taihang Mountain highway.
  • This is the third largest deal signed in China so far this year, after Alibaba Group Holding’s $5.2 billion fundraising signed in April 2017 and Tencent Asset Management’s $4.7 billion facility signed in March 2017.
  • China syndicated loan volume totals $79.9 billion in 2017 YTD, down 17% from $95.7 billion borrowed in 2016 YTD.

Real Estate sector leads the Southeast Asia loan volume in 2017 YTD

  • Starhill Global Real Estate Investment Trust has signed a S$700 million facility through joint mandated lead arrangers BNP Paribas, Bank of China, DBS, OCBC, RHB Bank, Sumitomo Mitsui Banking Corp, and UOB on a club basis. Proceeds are to refinance an existing facility signed in April 2013 and for working capital purposes.
  • Real Estate sector leads the Southeast Asia loan volume in 2017 YTD with volume totals $7.0 billion via 19 deals in 2017 YTD, accounting for 16% of the region’s total syndicated loan market.
  • Real Estate is the second largest sector for Asia Pacific (ex Japan) syndicated loan market in 2017 YTD. The volume stands at $33.0 billion so far this year, down 19% from $40.6 billion borrowed in 2016 YTD.

The largest deal signed in Thailand in 2017 YTD

  • Boon Rawd Trading, Singha Corp and Singha Asia Corp have secured a BHT25.5 billion facility through joint mandated lead arrangers Bangkok Bank, Bank of Ayudhya, and Kasikornbank. Syndication saw Krung Thai Bank and Mizuho Bank join as arrangers. Proceeds are to refinance a $700 million facility signed in January 2016.
  • This is the largest deal signed in Thailand in 2017 YTD, followed by TCC Hotel Asset Management’s $725 million facility signed in May 2017, and Charoen Pokphand Group’s $585 million facility signed in April 2017.
  • In Southeast Asia, syndicated loan volume stands at $42.9 billion via 118 deals in 2017 YTD, down 12% from $48.9 billion borrowed in the same period of 2016, and marking the lowest YTD level since 2012 ($41.8 billion).
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