Australia syndicated loan volume at lowest YTD level since 2010
- Victoria International Container Terminal has signed an A$398 million facility through joint bookrunners and mandated lead arrangers Citibank, KfW IPEX Bank and Standard Chartered Bank. Syndication saw Bank of China, DBS and Investec Bank join as mandated lead arrangers while Cathay United Bank came in as arrangers. Proceeds are to support the on-going construction and development of Victoria International Container Terminal (VICT) at Webb Dock East in the Port of Melbourne, Australia.
- Transportation is the second largest sector for Australia loan volume, with $4.5 billion signed so far this year, down from $6.3bn in 2015 YTD and accounting for 15% of the total market.
- Australia syndicated loan volume stands at $30.0 billion via 74 deals so far this year, down 42% from $51.5 billion in the same 2015 period and marking the lowest YTD level since 2010 ($28.4 billion).
Asia Pacific (ex Japan) Technology sector loan volume at YTD record high
- United Semiconductor (Xiamen) has signed a $1.0 billion term loan through sole mandated lead arranger China Development Bank. Syndication saw Agricultural Bank of China, Bank of China, Bank of Communications, China Construction Bank, Export-Import Bank of China and Industrial & Commercial Bank of China join as participants. Proceeds are to support the construction and operation of integrated circuit project (Phase 1).
- Technology is the second largest sector for China syndicated loan volume with $14.8 billion via 12 deals so far this year, more than triple the $4.0 billion (six deals) borrowed in 2015 YTD.
- Asia Pacific (ex Japan) Technology sector loan volume has reached a record $20.9 billion so far this year, up 40% year-on-year and also marking the highest YTD level on record.
The first Retail sector loan signed in South Korea in 2016 YTD
- E-MART has signed a $270 million facility through joint mandated lead arrangers Citigroup Global Markets Asia and DBS on a club basis. Proceeds are to repay existing debt.
- This is the only Retail syndicated loan signed in South Korea so far this year, compared with three totaling $603 million in 2015 YTD.
- In Asia Pacific (ex Japan), Retail sector syndicated loan volume stands at $9.7 billion via 11 deals in 2016 YTD, almost triple the $3.3 billion borrowed in the same 2015 period.