Loans week February 19-25

Dealogic's weekly roundup of loans activity in Asia.

The largest deal signed in Asia Pacific (ex Japan) in 2016 YTD

  • China Overseas Holdings has signed a HK$12 billion term loan through joint mandated lead arrangers Agricultural Bank of China, BNP Paribas, Bank of China, Bank of Communications, Bank of East Asia, China Construction Bank, China Merchants Bank, Chong Hing Bank, DBS Bank, Guangzhou Yuexiu Holdings, Hang Seng Bank, HSBC, Industrial & Commercial Bank of China, Nanyang Commercial Bank, Sumitomo Mitsui Banking, Taipei Fubon Commercial Bank and Wing Lung Bank on a club basis. Proceeds are for working capital purposes.
  • This is the largest syndicated loan signed in Asia Pacific (ex Japan) so far this year, followed by Ching Fu Shipbuilding’s $761 million facility signed on 04 February.
  • Asia Pacific (ex Japan) syndicated loan volume stands at $8.7 billion, down significantly from the $44.9 billion borrowed in 2015 YTD and also the lowest YTD level since 2004 ($8.4 billion). 

Lowest start for Taiwan syndicated loan market since 2009

  • King Yuan Electronics has wrapped up a TWD 5 billion facility through joint bookrunners and mandated lead arrangers Bank SinoPac, Bank of Taiwan, CTBC Bank, Chang Hwa Commercial Bank, E. Sun Commercial Bank, First Commercial Bank,  Hua Nan Commercial Bank, Land Bank of Taiwan, Mega International Commercial Bank, Taipei Fubon Commercial Bank, Taiwan Business Bank and Taiwan Cooperative Bank. Syndication saw KGI Bank and China Development Financial Holding join as participants. Proceeds are to repay existing debt and for working capital purposes.
  • Taiwan syndicated loan volume totals $2.1 billion in 2016 YTD, marking the lowest year start since 2009 ($1.8 billion).
  • TWD-denominated facility has reached at $1.8 billion so far this year, down 44% from $3.3 billion borrowed in the same period of 2015.

Asia Pacific (ex Japan) Technology sector syndicated loan down 89% YoY

  • Nanya Technology Corp has secured a TWD12 billion facility through joint bookrunners and mandated lead arrangers Bank of Taiwan, CTBC Bank, Chang Hwa Commercial Bank, DBS, First Commercial Bank, Hua Nan Commercial Bank, Mega International Bank, Taiwan Business Bank and Taiwan Cooperative Bank. Syndication saw Agricultural Bank of Taiwan, Bank SinoPac, E. Sun Commercial Bank, Land Bank of Taiwan, Taichung Commercial Bank and Taipei Fubon Commercial Bank join as arrangers. Proceeds are to repay existing debt and for working capital and capital expenditure purposes.
  • This is the largest  Technology sector syndicated loan signed in Asia Pacific (ex Japan) so far this year, behind King Yuan Electronics’ $150.3 million fundraising signed on 07 January.
  • Technology sector syndicated loan volume in Asia Pacific (ex Japan) totals $669 million in 2016 YTD, down 89% from $6.3 billion borrowed in 2015 YTD.

 

¬ Haymarket Media Limited. All rights reserved.