Transportation is the third largest sector for Asia Pacific (ex Japan) loan volume in 2016 YTD
- PT Ngawi Kertosono Jaya has secured an IDR 3.37 trillion facility through joint bookrunners and mandated lead arrangers Bank Mandiri, Bank Negara Indonesia and Bank Rakyat Indonesia. Syndication saw Bank Pembangunan Daerah Istimewa Yogyakarta, Bank Pembangunan Daerah Jawa Tengah, Indonesia Eximbank and Sarana Multi Infrastruktur join as participants. Proceeds are for capital expenditure purposes.
- This is the second largest Transportation sector deal signed in Southeast Asia this YTD, after BW LPG’ $800 million fundraising signed on 27 January 2016.
- Transportation is the third largest sector for Asia Pacific (ex Japan) loan volume in 2016 YTD accounting for 12% of Asia Pacific (ex Japan)’s total loan volume. Volume has reached at $12.5 billion via 26 deals so far this year, down 14% from the $14.6 billion borrowed in 2015 YTD.
India USD-denominated syndicated loan volume increase 37% YoY
- Axis Bank has signed a $300 million facility through joint mandated lead arrangers BNP Paribas, Bank of America Merrill Lynch, Citi, Credit Agricole, DBS and National Bank of Abu Dhabi on a club basis. Proceeds are for general corporate purposes.
- India USD-denominated syndicated loan volume reached $5.9 billion in 2016 YTD, an increase of 37% year-on-year from 2015 YTD’s $4.3 billion.
- In contrast, USD-denominated syndicated loan volume in Asia Pacific (ex Japan) stands at $36.8 billion in 2016 YTD, down 9% from $40.5 billion borrowed in the same period of 2015.
Asia Pacific (ex Japan) Health sector loan volume at second highest YTD record
- Fosun Industrial (HK) has secured a $500 million 3-year term loan through joint bookrunners and mandated lead arrangers ANZ, BNP Paribas, Bank of East Asia, Chong Hing Bank, HSBC and Westpac. Syndication saw Banco de Sabadell SA, Bank of Communications (Hong Kong), CTBC Bank, Commerzbank AG (Hong Kong) and Unicredit Bank AG (Hong Kong) join as arrangers. Proceeds are to repay existing debt and for future acquisition purposes.
- In Asia Pacific (ex Japan), Healthcare sector syndicated loan stands at $3.7 billion so far this year, marking the second highest YTD level on record behind 2015 YTD’s $4.6 billion borrowed.
- Volume is mostly driven by Mindray Medical International’s $2.1 billion term loan signed on 26 Feb 2016. Proceeds are to support the $2.4bn management buyout.
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