Hong Kong USD-denominated syndicated loan volume at record high in 2015
- China SCE Property Holdings has secured a $400 million term loan though joint bookrunners and mandated lead arrangers Bank of China (Hong Kong), HSBC, Hang Seng Bank and Ping An Bank. Proceeds are for refinancing existing indebtedness.
- Hong Kong USD-denominated syndicated loan volume reached $24.8 billion in 2015, marking the highest full year level on record and an increase of 18% year-on-year.
- In contrast, USD-denominated syndicated loan volume in Asia Pacific (ex Japan) stands at $161.9 billion in 2015 whole year, down 25% from 2014’s record high of $215.0 billion.
Oil & Gas sector leads the Malaysia syndicated loan market
- Armada Cabaca has secured a $1.1 billion facility through joint mandated lead arrangers CM-CIC, Intesa Sanpaolo, KfW, Korea Development Bank, National Bank of Abu Dhabi PJSC, Natixis, OCBC, SG Corporate & Investment Banking, Standard Chartered Bank and Sumitomo Mitsui Banking on a club basis. Proceeds are for offshore purposes and to provide for the minimum balance in DSRA.
- Oil & Gas sector leads the Malaysia syndicated loan market with $5.9 billion in 2015, accounting for 46% of Malaysia’s total loan volume.
- In Asia Pacific (ex Japan), Oil & Gas sector loan volume stands at $41.1 billion in 2015, down 19% from $50.6 billion borrowed in 2014.
Singapore syndicated loan volume down 44% year-on-year in 2015
- Orchard Turn Retail Investment has secured a S$1.7 billion facility through joint mandated lead arrangers Bank of China, Bank of Tokyo-Mitsubishi UFJ, DBS, Mizuho Bank, OCBC, RHB Capital, Sumitomo Mitsui Banking Corp and UOB on a club basis. Proceeds are to refinance a $1.2 billion existing facility signed on 26 Nov 2010 and for general corporate purposes.
- Singapore syndicated loan volume amounts to $32.5 billion in 2015, down 44% year-on-year from $58.4 billion borrowed in 2014.