The second largest deal signed in Asia Pacific (ex Japan) in 2016 YTD
- Thai Charoen Corp Group has signed a dual currency $6.1 billion club facility in March through mandated lead arrangers BNP Paribas, Bangkok Bank, Bank of China, HSBC, Industrial & Commercial Bank of China, Kasikornbank, Kiatnakin Bank, Krung Thai Bank, Mizuho Bank, Rabobank, Siam Commercial Bank, Standard Chartered Bank, Sumitomo Mitsui Banking, TISCO Bank and Thai Military Bank on a club basis The bridge loan is split into a THB 88 billion tranche and a €3.2 billion portion. Proceeds are to support acquisition of Big C Supercenter.
- The deal is the second largest syndicated loan signed Asia Pacific (ex Japan) so far this year, behind PT Perusahaan Listrik Negara (Persero) - PLN’s $7.8 billion fundraising signed on 14 March 2016.
- Asia Pacific (ex Japan) acquisition related* loan volume has reached $20.2 billion so far this year, more than double the $8.3 billion lent in the same 2015 period. In contrast, overall regional loan volume dropped 12% year-on-year to $96.0 billion.
*Includes deals where use of proceeds is one of acquisitions, future acquisitions, spinoffs, and LBOs
Asia Pacific (ex Japan) club deal volume at second record high in 2016 YTD
- CIFI Holdings (Group) has secured a $600 million term loan through joint mandated lead arrangers Bank of Communications, Bank of East Asia, Bank of Shanghai, China Construction Bank (Asia), China Everbright Bank (Hong Kong), Chong Hing Bank, HSBC Bank, Nanyang Commercial Bank, Ping An Bank, Shanghai Pudong Development Bank, Standard Chartered Bank (Hong Kong) and Wing Lung Bank on a club basis. Proceeds are to repay existing debt and for general corporate purposes.
- Asia Pacific (ex Japan) club loan volume has reached $42.1 billion in 2016 YTD, a 35% increase from the $31.3 billion raised in 2015 YTD and marking the second highest YTD level on record behind 2014 ($67.4bn).
Asia Pacific (ex Japan) USD-denominated loan volume at lowest YTD level since 2012
- Grand Capital International has secured a $240 million facility through joint bookrunners and mandated lead arrangers Cathay United Bank, Chang Hwa Commercial Bank, First Commercial Bank, Hua Nan Commercial Bank, KGI Bank, Mega International Commercial Bank and Taiwan Business Bank. Syndication saw Bank of Kaohsiung, Export-Import Bank of the Republic of China, Shanghai Commercial & Savings Bank, Taichung Commercial Bank, Taishin International Bank, Taiwan Cooperative Bank, Taiwan Shin Kong Commercial Bank and Yuanta Commercial Bank join as participants. Proceeds are to refinance the $160 million facility signed 16 Aug 2011 and for working capital purposes.
- Taiwan USD-denominated syndicated loan volume totals $1.2 billion in 2016 YTD, down 57% year-on-year. This is in line with the decline seen in Asia Pacific (ex Japan) with a 4% drop during the same period to $32.6 billion in 2016 YTD, and the lowest YTD level since 2012 ($23.8 billion).
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