Loans week February 5-11

Dealogic's weekly roundup of loans activity in Asia.

Asia Pacific (ex Japan) club deal volume at lowest since 2003

  • China Aoyuan Property Group has signed a $180 million term loan through joint mandated lead arrangers Bank of China (Macau) and Nanyang Commercial Bank on a club basis. Proceeds were to repay existing debt.
  • The deal is the largest club deal in Asia Pacific (ex Japan) so far this year, followed by Dialog LNG’s $170 million facility signed on 13 Jan.
  • In Asia Pacific (ex Japan), club deal volume stood at $518 million in 2016 YTD, the slowest start to a year since 2003 ($480 million).

China syndicated loan volume at lowest since 2007

  • Yue Xiu Enterprises (Holdings) has signed a $400 million 3-year term loan through sole bookrunner and mandated lead arranger DBS. Syndication saw Industrial & Commercial Bank of China join as mandated lead arranger while Agricultural Bank of China, Bank SinoPac, Bank of Taiwan(Hong Kong), Monte dei Paschi, China Everbright Bank(Hong Kong), China Merchants Bank (Hong Kong), Hua Nan Commercial Bank, KGI Bank, OCBC Wing Hang Bank, Shanghai Pudong Development Bank and Taichung Commercial Bank came in as arrangers. Proceeds are to refinance a $280m facility signed 07 Aug 2013 and for general corporate purposes.
  • China syndicated loan volume stands at $1.2 billion in 2016 YTD, the lowest level for the period since 2007 ($210 million).
  • In Asia Pacific (ex Japan), syndicated loan volume reached $5.2 billion in 2016 YTD, marking the lowest YTD level since 2003 ($3 billion).

Taiwan syndicated loan volume down 15% YoY

  • Ching Fu Shipbuilding has secured a $762 million debt package through sole bookrunner and mandated lead arranger First Commercial Bank. Syndication saw Hua Nan Commercial Bank, Taiwan Business Bank and Taiwan Cooperative Bank join as mandated lead arrangers while Bank of Taiwan and Land Bank of Taiwan came in as arrangers. Agricultural Bank of Taiwan, Chang Hwa Commercial Bank and Export- Import Bank of the Republic of China concluded the deal as participants. Proceeds were for working capital purposes.
  • The deal is the largest deal signed in Taiwan so far this year, followed by Grand River Development’s $302 million facility signed on 03 February.
  • Taiwan syndicated loan volume has reached $1.4 billion so far this year, down 15% from the $1.7 billion borrowed in the same period of 2015. 


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