Finance leads HK loan volumes; tech top in Taiwan

Sun Hung Kai Financial, Penna Cements Industries and World Peace Industrial feature in Dealogic's roundup of loans activity in Asia for September 15-21.

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

  • Sun Hung Kai Financial has signed a HK$4.5 billion facility through joint bookrunners and mandated lead arrangers China Everbright Bank and Standard Chartered Bank. Syndication saw Bank of China, Bank of Communications, China Construction Bank, China Development Bank, and Industrial & Commercial Bank of China come in as mandated lead arrangers; while CTBC Bank, Cathay United Bank, Chang Hwa Commercial Bank, Chong Hing Bank, E Sun Commercial Bank, Land Bank of Taiwan, Ta Chong Bank, Taiwan Cooperative Bank, and Taiwan Shin Kong Commercial Bank join as arrangers. Bank of Kaohsiung also came in as participant. Proceeds are for general corporate purposes.
  • Finance is the second largest sector in Hong Kong’s syndicated loan market in 2017 YTD. Volume stands at $6.6 billion via 16 deals so far this year, accounting for 23% of total Hong Kong loan volume.
  • Finance sector syndicated loan volume in Asia Pacific (ex Japan) totals $21.2 billion via 85 deals, down 38% year-on-year.

Construction is the third largest sector in India in 2017 YTD

  • Penna Cements Industries has secured an INR 12.7 billion facility through sole bookrunner and mandated lead arranger Yes Bank. Syndication saw L&T Financial Services joined as participant. Proceeds are to repay existing debt from other banks and for capital expenditure purposes, which include the purchase of vessels and Boyireddypalli clinker capacity expansion for Pune Grinding Unit, Krishnapatnam Grinding Unit.
  • Construction is the third largest sector in India syndicated loan market with $4.6 billion signed in 2017 YTD, accounting for 14% of India’s total loan volume.
  • India syndicated loan volume stands at $34.3 billion so far this year, down 10% from $38.3 billion borrowed in 2016 YTD and marking the lowest YTD level since 2008 ($30.0 billion).

Technology sector leads the Taiwan syndicated loan market in 2017 YTD

  • World Peace Industrial has signed a $239 million facility through joint bookrunners and mandated lead arrangers Chang Hwa Commercial Bank, E Sun Commercial Bank, Far Eastern International Bank, Hua Nan Commercial Bank, Mizuho Bank, and Taiwan Cooperative Bank. Syndication saw First Commercial Bank, Jih Sun Commercial Bank, Land Bank of Taiwan, Mega International Commercial Bank, and Taiwan Business Bank joined as participants. Proceeds are to refinance the NT$5 billion facility signed in September 2014 and for working capital purposes.
  • Technology sector leads the Taiwan syndicated loan market in 2017 YTD, with volume stands at $4.8 billion, accounting for 40% of Taiwan total syndicated loan volume.
  • Taiwan syndicated loans volume totals $11.9 billion via 84 deals in 2017 YTD, down 45% from $21.7 billion in the same period of 2016, marking the lowest YTD level since 2005 ($10.3 billion).

 

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