The largest Telecommunication sector deal signed in Hong Kong in 2017 YTD
Asia Cube Global Communications has signed a HK$7.1 billion facility through joint bookrunners and mandated lead arrangers Credit Agricole, Credit Suisse, and Deutsche Bank. Syndication saw BNP Paribas, Bank of East Asia, Chang Hwa Commercial Bank, China Merchants Bank, China Minsheng Banking Corp, E.Sun Commercial Bank, First Commercial Bank, ICICI Bank, Industrial & Commercial Bank of China, Kookmin Bank, Shinhan Asia, Taishin International Bank, Wing Lung Bank, Woori Bank, and Yuanta Commercial Bank came in as mandated lead arrangers. Proceeds are to support the HK$14.5 billion leveraged buyout of fixed line assets of Hutchison Telecommunications.
This is the largest Telecommunication sector deal signed in Hong Kong so far this year, followed by SpeedCast International and Speedcast Australia’s $385 million facility and Asia Satellite Telecommunications Holdings’ $220 million fundraising.
In Hong Kong, Telecommunication sector loan volume stands at $1.5 billion in 2017 YTD, accounting for 5% of its total loan volume.
Indonesia syndicated loan volume reached highest YTD level since 2014
Adira Dinamika Multi Finance has secured a $250 million facility through joint bookrunners and mandated lead arrangers BNP Paribas, Bank of Tokyo-Mitsubishi UFJ, Barclays Bank, and DBS. Syndication saw Bank of Baroda, Bank of Taiwan, Cathay United Bank, Chugoku Bank, E.Sun Commercial Bank, Export-Import Bank of the Republic of China, Far Eastern International Bank, First Commercial Bank, Gunma Bank, Hua Nan Commercial Bank, Jih Sun Commercial Bank, Korea Development Bank, Land Bank of Taiwan, Mega International Commercial Bank, National Bank of Abu Dhabi, Shinhan Bank, Shinsei Bank, State Bank of India, Taipei Fubon Commercial Bank, and Taiwan Shin Kong Commercial Bank come in as arrangers; while Shanghai Commercial & Savings Bank and Sunny Bank joined as participants. Proceeds are for general corporate purposes.
Finance is the second largest sector in Indonesia syndicated loan market with $2.1 billion signed in 2017 YTD, accounting for 15% of Indonesia’s total loan volume.
Indonesia syndicated loan volume stands at $14.4 billion so far this year, increasing 18% from $12.2 billion borrowed in 2016 YTD and marking the highest YTD level since 2014 ($15.1 billion).
Construction is the second largest sector in Taiwan in 2017 YTD
Shanyuan and Lung Lin Construction has signed a NT$ 12.1 billion facility through sole bookrunner and mandated lead arranger Land Bank of Taiwan. Syndication saw Bank of Taiwan, Cathay United Bank, Hua Nan Commercial Bank, Mega International Commercial Bank, Taishin International Bank come in as arrangers; while Agricultural Bank of Taiwan, Bank of East Asia, Bank of Kaohsiung, Chang Hwa Commercial Bank, First Commercial Bank, Ta Chong Bank, Taichung Commercial Bank, Taiwan Business Bank, Taiwan Cooperative Bank, and Taiwan Shin Kong Commercial Bank come in as participants. Proceeds are to repay existing debt, for working capital and capital expenditure purposes. This deal is an amendment to an existing NT$ 12.1 billion facility.
This is the largest Construction sector loan signed in Taiwan so far this year, followed by Highwealth Construction’s $352 million facility signed in March 2017 and Chyi Yuh Construction’s $246 million fundraising signed in August 2017.
Construction is the second largest sector in Taiwan in 2017 YTD. Volume stands at 2.2 billion via 14 deals, accounting for 18% of its total loan volume.
