Loans week February 26-March 3

Dealogic's weekly roundup of loans activity in Asia.

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

  • China Cinda Asset Management has signed a HK$39 billion facility through sole bookrunner and mandated lead arranger China Construction Bank. Syndication saw China Development Bank join as mandated lead arranger while Agricultural Bank of China, Bank of Communications, China Everbright Bank, China Merchants Bank and Industrial & Commercial Bank of China came in as participants. Proceeds are to support the HK$68 billion acquisition of Nanyang Commercial Bank Ltd from BOC Hong Kong (Holdings).
  • This is the largest syndicated loan signed in Asia Pacific (ex Japan) so far this year, followed by China Overseas Holdings’ $1.5 billion facility signed on 19 February 2016.
  • Asia Pacific (ex Japan) syndicated loan volume stands at $18.8 billion, down 66% from the $54.9 billion borrowed in 2015 YTD and also the lowest YTD level since 2005 ($16.9 billion).  

The largest deal signed in Hong Kong in 2016 YTD

  •  Vanke Property (Hong Kong) has secured a HK$6.5 billion facility through joint mandated lead arrangers Agricultural Bank of China (Hong Kong), Bank of China (Hong Kong), Bank of Communications (Hong Kong), China Construction Bank (Hong Kong), DBS Bank (Hong Kong) and Industrial & Commercial Bank of China (Asia) on a club basis. Proceeds are for property financing purposes.
  • This is the largest syndicated loan signed in Hong Kong so far this year, followed by Dairy Farm’s $800 million facility signed on 1 March 2016.
  •  Hong Kong syndicated loan volume stands at $2.4 billion, down 60% from the $6.0 billion borrowed in 2015 YTD.

Singapore syndication loan market record lowest YTD volume since 2010

  • DBS Trustee has signed a S$360 million 3-year term loan through joint bookrunners and mandated lead arrangers ANZ and Standard Chartered Bank. Syndication saw Bank of China (Singapore) join as mandated lead arranger while Bank of East Asia (Singapore) came in as arranger. Proceeds are for future acquisition purposes.
  • Singapore syndication loan market has seen only two deals with a total value of $484 million in 2016 YTD, the lowest YTD record since 2010 ($459 million).
  • In Southeast Asia, syndicated loan volume stands at $2.1 billion in 2016 YTD, the slowest start to a year since 2004 ($1.9 billion).

 

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