Australia syndicated loan volume at lowest YTD level since 2003
- Victoria Power Networks has signed a A$700 million 3-year term loan through joint bookrunners and mandated lead arrangers Commonwealth Bank of Australia, JPMorgan Chase Bank and Mizuho Bank. Syndication saw ANZ, Canadian Imperial Bank of Commerce, National Australia Bank, Sumitomo Mitsui Trust Bank and Westpac join as mandated lead arrangers, while Bank of China, Bank of Nova Scotia Asia, Credit Industriel et Commercial, HSBC and Mega International Bank came in as arrangers. Proceeds are to repay existing debt and for general corporate purposes.
- With only one deal signed in 2016 so far, Australia syndicated loan market with a volume of $495.9 million has its slowest start to the year since 2003 ($436.6 million via five deals).
- Total Asia Pacific (ex Japan) syndicated loan volume totals $5.9 billion in 2016 YTD, a sharp drop from $41.8 billion borrowed from the same period of 2015.
Slowest start to a year for Southeast Asia syndicated loan market since 2003
- Trans Marga Jateng has signed an IDR 5.1 billion term loan through joint bookrunners and mandated lead arrangers Bank Negara Indonesia, Bank Mandiri (Persero) and Bank Rakyat Indonesia (Persero). Syndication saw Bank Pembangunan Daerah Jawa Tengah come in as participant. Proceeds are for capital expenditure purposes.
- This is the second largest deal in Southeast Asia so far this year, behind Singha Corp and Boon Rawd Trading’s $700 million facility signed on 15 Jan 2016.
- In Southeast Asia, syndicated loan volume stands at $1.5 billion in 2016 YTD, the slowest start to a year since 2004 ($1.1 billion).
Asia Pacific (ex Japan) USD-denominated loan volume at lowest YTD level since 2003
- Singha Corp and Boon Rawd Trading has secured a $700 million bridge facility through sole bookrunner and mandated lead arranger Bank of Tokyo-Mitsubishi UFJ. Syndication saw Bangkok Bank and Kasikornbank join as participants. Proceeds are to support the $1.1bn acquisition of Masan Consumer Corp & Masan Brewery Corp from Boon Rawd Brewery.
- Southeast Asia USD-denominated syndicated loan volume totals $970 million in 2016 YTD, down 78% year-on-year.
- Asia Pacific (ex Japan) USD-denominated syndicated loan volume stands at $2.5 billion in 2016 YTD, marking the lowest YTD level since 2003 ($1.8 billion).
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