Australia syndicated loan volume up 38% Y-o-Y
- Viva energy have signed a $700 million facility through joint bookrunners and mandated lead arrangers ANZ, Mizuho Bank, National Australia Bank, and UOB. Syndication saw Bank of America, Bank of China, Bank of Nova Scotia, Bank of Tokyo-Mitsubishi UFJ, Citibank, Deutsche Bank, Sumitomo Mitsui Banking Corp, and Westpac join as mandated lead arrangers; while BNP Paribas, DBS, HSBC, and OCBC joined as arrangers. Proceeds are to refinance a $1.1 billion facility that was originally signed in July 2014 and amended in April 2016 and for working capital purposes.
- This is the first Oil & Gas sector deal signed in Australia in 2018 YTD. In 2017, the total Australian Oil & Gas loan volume stood at $2.4 billion via 5 deals.
- In Australia, syndicated loan volume stands at $11.7 billion via 28 deals in 2018 YTD, up 38% from $8.5 billion borrowed in the same period of 2017.
China offshore loan volume down 29% Y-o-Y
- Far East Horizon has secured a $1.1 billion facility through joint bookrunners China Construction Bank, E.Sun Commercial Bank, Fubon Financial Holding, Industrial & Commercial Bank of China, Mitsubishi UFJ Financial Group, Taishin International Bank, Westpac, and Wing Lung Bank. Syndication saw Bank of Communications and Societe Generale join as mandated lead arrangers; while Bank of China, Bank of Panhsin, Bank of the Philippine Islands, Hwatai Bank, Intesa Sanpaolo, and Korea Development Bank joined as participants. Proceeds are to refinance an existing $272 million facility signed in November 2014 and for general corporate purposes.
- This is the second-largest China offshore deal signed in 2018 YTD, after Longfor Properties’ $1.3 billion facility signed in January 2018.
- In China, offshore loan volume stands at $6.7 billion via 14 deals in 2018 YTD, down 29% from $9.4 billion borrowed in the same period of 2017.
The largest deal signed in Hong Kong in 2018 YTD
- Sun Hung Kai Properties (Financial Services) has signed a HK$21.0 billion facility through joint mandated lead arrangers BNP Paribas, Bank of China, Bank of Tokyo-Mitsubishi UFJ, China Construction Bank, Chong Hing Bank, Citibank, Credit Agricole CIB, DBS, HSBC, Industrial & Commercial Bank of China, Mizuho Bank, OCBC, Standard Chartered Bank, Sumitomo Mitsui Banking Corp, and UOB on a club basis. Proceeds are to repay existing debt and for working capital purposes.
- This is the largest deal signed in Hong Kong in 2018 YTD, followed by Haitong International Securities Group’s $1.5 billion facility signed in March 2018 and Unicorn Bay (Hong Kong) Investments’ $1.4 billion fundraising in February 2018.
- Real estate leads Hong Kong syndicated loan volume with $7.5 billion signed in 2018 YTD, accounting for 57% of total loan volume in the region.