Transportation leads China syndicated loan volume
- Jinan City Metro Network Group Construction & Investment has signed a RMB 11.2 billion facility through sole mandated lead arranger China Development Bank. Syndication saw Bank of China, China Construction Bank, China Merchants Bank, Postal Savings Bank of China, and Qilu Bank join in as participants. Proceeds are to support the construction of Jinan Metro Network R3 line Phase 1 in Jinan, Shandong, China.
- Transportation sector leads the China syndicated loan market with $12.4 billion signed in 2017 YTD, accounting for 29% of China’s total loan volume.
- In Asia Pacific (ex Japan), Transportation is the second largest sector in 2017 YTD. Volume has reached $17.6 billion via 40 deals, down 24% from the $23.2 billion borrowed in 2016 YTD.
The largest syndicated loan signed in India in 2017 YTD
- HPCL-Mittal Energy has secured an INR 134.4 billion facility through sole bookrunner and mandated lead arranger SBI Capital Markets. Syndication saw Allahabad Bank, Andhra Bank, Bank of Baroda, Canara Bank, Indian Bank, Jammu & Kashmir Bank, Oriental Bank of Commerce, Punjab & Sind Bank, Union Bank of India, and United Bank of India join as participants. Proceeds are to support a 9 MMTPA petroleum refinery with 1.20 MMTPA ethylene manufacturing facility, envisaging production of petrochemical products like HDPE, LLDPE, Poly Propylene, Benzene, and Mixed Xylene, located in Bathinda, State of Punjab, India.
- This is the largest syndicated loan signed in India so far this year, followed by Reliance Industries’ $1.8 billion facility and Bharat PetroResources’ $1.6 billion facility, both signed in March 2017.
- India syndicated loan volume stands at $18.8 billion in 2017 YTD, down 19% from $23.2 billion borrowed in 2016 YTD.
Southeast Asia syndicated loan volume at lowest YTD level since 2010
- TCC Hotel Asset Management has signed a BHT 25.0 billion facility through sole bookrunner and mandated lead arranger Siam Commercial Bank. Syndication saw Kiatnakin Bank join as participant. Proceeds are to support the acquisition of land and buildings of hotels and retail properties.
- This is the largest syndicated loan signed in Thailand so far this year, followed by Charoen Pokphand Group’s $585 million facility in April 2017 and IRPC’ $425 Million fundraising in January 2017.
- Southeast Asia syndicated loan volume stands at $24.9 billion in 2017 YTD, down 30% from $35.9 billion borrowed in 2016 YTD and also marking the lowest YTD level since 2010 ($17.7 billion).