Korea's biggest property loan of 2018; major Malaysia deal

MDM Plus, AET Bermuda One and Ecom Agroindustrial Asia feature in Dealogic's roundup of loans activity in Asia for April 27 to May 3.

The largest Real Estate sector deal signed in South Korea in 2018 YTD

  • MDM Plus has closed a KRW 224.0 billion facility through sole bookrunner and mandated lead arranger Shinhan Bank. Syndication saw Acuon Capital, Acuon Savings Bank, Aju Capital, BNK Capital Markets, Choeun Savings Bank, Dongbu Savings Bank, Eugene Savings Bank, Han Kook Capital, Hyundai Capital Services, Hyundai Commercial, IBK Capital, JB Woori Capital, KB Capital, KDB Capital, Mirae Asset Capital, NH Capital, OK Capital, Orix Capital Korea, Shinhan Capital, Shinhan Savings Bank, The-K Non-Life Insurance, and The-K Savings Bank join as participants. Proceeds are for real estate financing purposes.
  • This is the largest Real Estate sector deal signed in South Korea so far this year, followed by Jayang 1 Reconstruction Union’s $182 million facility and MDM Plus’ $170 million fundraising, both signed in February 2018.
  • Real Estate leads South Korea syndicated loan volume with $880 million signed in 2018 YTD, accounting for 39% of total loan volume in the region.

The second largest loan signed in Malaysia in 2018 YTD

  • AET Bermuda One has signed a $575 million facility through sole bookrunner and mandated lead arranger Standard Chartered Bank. Syndication saw BNP Paribas, DBS, ING Bank, OCBC, Societe Generale, and Sumitomo Mitsui Banking Corp join as mandated lead arrangers. Proceeds are to repay existing debt, to part-finance new vessel acquisitions and for general corporate purposes.
  • This is the second largest deal signed in Malaysia so far this year. Malaysia syndicated loan volume stands at $10.1 billion so far this year, almost tripled the $3.7 billion borrowed in 2017 YTD.
  • In Asia Pacific (ex Japan), Transportation sector loan volume reached $10.5 billion via 24 deals in 2018 YTD, down 30% from $15.0 billion borrowed in the same period of 2017.

The largest Agricultural sector loan signed in Asia Pacific (ex Japan) in 2018 YTD

  • Ecom Agroindustrial Asia has signed a $600 million facility through joint bookrunners and mandated lead arrangers ABN AMRO Bank, DBS, ING Bank, and Rabobank Nederland. Syndication saw ANZ, Bank of China, CTBC Bank, Commerzbank, First Abu Dhabi, HSBC, Landesbank Baden-Wuerttemberg, OCBC, Standard Chartered Bank, and UniCredit Bank join as mandated lead arrangers; while BNP Paribas, Banco Bradesco, Emirates, First Commercial Bank, KBC Bank, MUFG Bank, Mega International Commercial Bank, Societe Generale, UBS, and UOB join as arrangers. Proceeds are to refinance an existing $500 million facility signed on 7 Apr 2017.
  • This is the largest Agricultural sector deal signed in Asia Pacific (ex Japan) so far this year, followed by SunRice’s $353 million facility signed in April 2018 and Japfa’s $280 million facility signed in March 2018.
  • Asia Pacific (ex Japan) syndicated loan volume stands at $119.9 billion in 2018 YTD, down 18% from $145.8 billion borrowed in the same period of 2017.
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