Loans week April 29-May 5

Dealogic's weekly roundup of loans activity in Asia.

The largest Metal & Steel sector deal signed in Asia Pacific (ex Japan) in 2016 YTD

  • Jindal Stainless has secured an INR 63.3 billion facility through sole bookrunner and mandated lead arranger State Bank of India. Syndication saw AXIS Bank, Allahabad Bank, Bank of Baroda, Canara Bank, Central Bank of India, Export-Import Bank of India, HDFC Bank, ICICI Bank, IDBI Bank, Indian Bank, Jammu & Kashmir Bank, Karnataka Bank, Oriental Bank of Commerce, Punjab National Bank, Standard Chartered Bank, State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of India, State Bank of Mysore, State Bank of Patiala, State Bank of Travancore, Syndicate Bank, UCO Bank, Union Bank of India and United Bank of India come in as participants. Proceeds are for working capital and general corporate purposes.
  •  This is the largest Metal & Steel sector deal signed in Asia Pacific (ex Japan) in 2016 YTD, followed by Jayaswal Neco Industries’ $333 million facility signed on 31 Jan 2016.
  •  In Asia Pacific (ex Japan), Metal & Steel sector syndicated loan volume stands at $3.0 billion via 14 deals in 2016 YTD, increase 63% year-on-year.

Refinancing tops use of procced for Asia Pacific (ex Japan) syndicated loans

  • STATS ChipPac has signed a $315 million five-year facility through sole bookrunner and mandated lead arranger DBS. Syndication saw Barclays Bank, China Minsheng Banking Corp, First Gulf Bank PJSC, ING Bank, KGI Bank and Taishin International Bank join as mandated lead arrangers while China CITIC Bank International came in as arranger. Proceeds are for refinancing the existing bridge facility signed on 06 Aug 2015.
  • Refinancing* is the top use of procced for Asia Pacific (ex Japan) syndicated loans, totaling 37.0 billion with a 35.6% market share.
  • Total Asia Pacific (ex Japan) syndicated loan stands at $105.1 billion so far this year, down 30% year-on-year from $149.2 billion borrowed in the same period of 2015.

*Includes deals in which proceeds will be used for refinance and repay debt

The third largest Technology sector deal in Asia Pacific (ex Japan) YTD

  • Acer has signed a TWD 12 billion facility with joint bookrunners and mandated lead arrangers Bank SinoPac, Bank of Taiwan, CTBC Bank, Chang Hwa Commercial Bank, DBS, KGI Bank, Land Bank of Taiwan, Mega International Commercial Bank, Taipei Fubon Commercial Bank, Taishin International Bank, Taiwan Business Bank and Taiwan Cooperative Bank. Syndication saw Agricultural Bank of Taiwan join as participant. Proceeds are to repay existing debt and for working capital purposes.
  • This is the third largest Technlogy sector deal in Asia Pacific (ex Japan) so far this year, behind Alibaba’ $4.0 billion fundraising and Chunghwa Picture Tubes’ $676 million facility.
  • In Asia Pacific (ex Japan), Technlogy syndicated loan volume stands at $7.5 billion via 27 deals in 2016 YTD, down 9% from $8.2 million borrowed via 17 deals in 2015 YTD.

 

¬ Haymarket Media Limited. All rights reserved.

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222