Largest utilities loan of the year; club deals on the slide

Genertec Universal Medical Group, Zunyi JiaoLv Investment (Group) and Titan Infra Energy feature in Dealogic's roundup of loans activity in Asia for September 7 to 13.

The largest Utility sector deal signed in Asia-Pacific (ex Japan) in 2018 YTD

  • Genertec Universal Medical Group has signed a $618 million facility through joint bookrunners and mandated lead arrangers Agricultural Bank of China, Bank of Communications, China Construction Bank, Chong Hing Bank, and Shanghai Pudong Development Bank. Syndication saw Hang Seng Bank and Industrial & Commercial Bank of China join as mandated lead arrangers; while Bank of Taiwan, KGI Bank, Land Bank of Taiwan, Mega International Commercial Bank, and Taipei Fubon Commercial Bank joined as arrangers. Syndication also saw Bank of Kaohsiung and Hua Nan Commercial Bank join as participants. Proceeds are for working capital purposes.
  • China syndicated loan stands at $111.4 billion in 2018 YTD, down 5% from $117.3 billion borrowed in 2017 YTD.
  • Asia-Pacific (ex Japan) Finance sector loan totals $31.6 billion via 108 deals in 2018 YTD, down 29% from $24.6 billion borrowed in 2017 YTD.

Club deals down 25% Y-o-Y

  • Zunyi JiaoLv Investment (Group) has signed a RMB 800 million facility through joint mandated lead arrangers Agricultural Bank of China and Export- Import Bank of China on a club basis.  Proceeds are to support the construction of a land park located in Guizhou, China.
  • China club deals stand at $23.6 billion YTD, accounting 21% of total market share.
  • In Asia Pacific, club loans totals $88.4 billion in 2018 YTD, down 25% from $117.3 billion in the same period of 2017.

­­­­Indonesia loan down 19% Y-o-Y

  • Titan Infra Energy has signed a $450 million facility through joint mandated lead arrangers Credit Suisse, Bank CIMB Niaga, and Bank Mandiri on a club basis. Proceeds are to repay existing debt and for general corporate purposes.
  • Southeast Asia Utility sector loan volume stands at $5.1 billion in 2018 YTD, down 24% from $6.7 billion borrowed in the same period of 2017.
  • In 2018 YTD, Indonesia syndicated loan volume stands at $12.4 billion via 42 deals, down 19% from $15.4 billion borrowed in 2017 YTD.
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