China syndicated loan volume up 28% YoY
- Tibet Tianyuan Mineral Exploration has signed a RMB 4 billion facility with sole mandated lead arranger Bank of China. Syndication saw Bank of Tibet, China Construction Bank, China Minsheng Bank, and Postal Savings Bank of China join as participants. Proceeds are to support a copper mining project in Xiongcun, Xietongmen County, Shigatse, Tibet, China.
- This is the second largest Mining sector deal signed in China in 2016, behind Tibet Julong Copper’s $1.5 billion facility signed in December 2016.
- China’s syndicated loan market stands at $171.2 billion signed in 2016, up 28% year-on-year from $133.7 billion borrowed in 2015.
China onshore syndicated loans in 2016 the highest on record
- Wenzhou Oujiang Estuary Bridge has signed a RMB 5.5 billion term loan with sole mandated lead arranger China Development Bank. Syndication saw Agricultural Bank of China, Bank of Communications, Industrial & Commercial Bank of China, and Industrial Bank join as participants. Proceeds are to support the construction of an estuary bridge connecting the Yongtaiwen Expressway from Nantang to Huanghua.
- This is the largest syndicated loan in China so far this year. China syndicated loan volume stands at $3.3 billion in 2017 YTD, down 17% from 2016 YTD’s $3.9 billion.
- China onshore loans have reached the highest level both in Volume and Activity, with $121.7 billion via 326 deals for whole year 2016.
The second largest Construction sector deal signed in Southeast Asia in 2016
- Siam City Cement has signed a BHT 18.9 billion facility through sole bookrunner and mandated lead arranger Bank of Tokyo-Mitsubishi UFJ. Syndication saw Bangkok Bank and Bank of Ayudhya join as mandated lead arrangers, while ANZ, Industrial & Commercial Bank of China, Kiatnakin Bank, Overseas Chinese Commercial Banking Corp, and Sumitomo Mitsui Banking Corp came in as arrangers. Proceeds are to support the acquisition of Holcim (Vietnam) Co Ltd from LafargeHolcim Ltd.
- This is the second largest Construction sector deal signed in Southeast Asia in 2016, after Bhimasena Power Indonesia’s $1.4 billion facility signed in June 2016.
- In Southeast Asia, Construction loan volume in 2016 stands at $5.5 billion, accounting for 6% of the region’s total loan volume.