Large loans from China, Taiwan to start the year

Wuhan China Star Optoelectronics Technology, Casetek Holdings and Follow International feature in Dealogic's roundup of loans activity in Asia for January 12 to 18.

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

  • Wuhan China Star Optoelectronics Technology has signed a $2.2 billion facility through joint bookrunners and mandated lead arrangers China Development Bank and Export-Import Bank of China. Syndication saw Agricultural Bank of China, Bank of China, China Construction Bank, Industrial & Commercial Bank of China, and Industrial Bank join as participants. Proceeds are to support the development of Gen-6 flexible LTPS-AMOLED panels.
  • This is the largest deal signed in Asia Pacific (ex Japan) so far this year, followed by Follow International’s $660 million facility signed in January 2018.
  • Asia Pacific (ex Japan) syndicated loan volume stands at $3.7 billion in 2018 YTD. Technology is the largest sector with volume standing at $2.4 billion. The total volume of Asia-Pacific (ex Japan) Technology loan reached $36.9 billion last year.

The second largest loan signed in Taiwan in 2018 YTD

  • Casetek Holdings has signed a $360 million facility through joint bookrunners and mandated lead arrangers Bank of Taiwan, DBS, and Mega International Commercial Bank. Syndication saw Bank SinoPac, Hua Nan Commercial Bank, and Mizuho Bank join as arrangers; while Bank of Tokyo-Mitsubishi UFJ and E Sun Commercial Bank came in as participants. Proceeds are for working capital purposes.
  • This is the first Metal & Steel sector deal signed in Taiwan so far this year. The total volume of Taiwan Metal & Steel loan reached $912 million last year.
  • In Asia Pacific (ex Japan), Metal & Steel sector loan volume reached $7.9 billion via 43 deals in 2017. The volume decreased more than half the total Metal & Steel sector loan volume of 2016.

The largest Construction/ Building deal signed in Asia Pacific (ex Japan) in 2018 YTD

  • Follow International has signed a $660 million facility through joint bookrunners and mandated lead arrangers Cathay United Bank, DBS, Mega International Commercial Bank, Standard Chartered Bank, and Taipei Fubon Commercial Bank. Syndication saw Bangkok Bank, Bank SinoPac, Bank of East Asia, Hua Nan Commercial Bank, and Taishin International Bank join as mandated lead arrangers, while Bank of Panhsin, Bank of Taiwan, CTBC Bank, Chang Hwa Commercial Bank, Far Eastern International Bank, Hwatai Bank, Jih Sun International Commercial Bank, KGI Bank, Shanghai Commercial & Savings Bank, Taichung Commercial Bank, Taiwan Business Bank, Taiwan Cooperative Bank, Taiwan Shin Kong Commercial Bank, and Yuanta Commercial Bank. Proceeds are to refinance the $440 million facility signed in November 2013 and for general corporate purposes.
  • This is the largest Construction/ Building sector deal signed in Asia Pacific (ex Japan) so far this year, followed by JSW Cement’s $168 million facility signed in January 2018.
  • In Asia Pacific (ex-Japan), Construction/ Building was the third largest sector in 2017.The volume stood at $56.7 billion via 189 deals in 2017, down 11% from $63.6 billion borrowed in 2016.
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