Loans week January 15-21

Dealogic's weekly roundup of loans activity in Asia.


Australia syndicated loan volume down 30% year-on-year in 2015

  • BlueScope Steel (Finance) secured an AUD 850 million facility in December 2015 through joint mandated lead arrangers ANZ, Bank of Tokyo-Mitsubishi UFJ, Commonwealth Bank of Australia, Credit Suisse, HSBC, JPMorgan, National Australia Bank, Standard Chartered Bank, Sumitomo Mitsui Banking Corp and Westpac on a club basis. Proceeds are to repay existing debt.
  • The deal was the sixth largest Metal & Steel sector facility signed in Asia Pacific (ex Japan) in 2015 while the largest was Tianjin Zhongwang Aluminium Co ‘s $3.3 billion fundraising signed on 24 July 2015.
  • Australia loan volume totaled $95.9 billion in 2015, down 30% from the record high of $137.1 billion borrowed in 2014.

Utility & Energy sector led India syndicated loan market in 2015

  • Bindu Vayu Urja, Mytrah Vayu (Krishna), Mytrah Vayu (Pennar) and Mytrah Vayu (Manjira) have inked an INR 26.9 billion facility through joint mandated lead arrangers IDFC, Oriental Bank of Commerce and State Bank of India on a club basis. Proceeds are to repay existing debt and for working capital purposes.
  • Utility & Energy sector led the India syndicated loan market with $12.7 billion in 2015, accounting for 25% of India’s total loan volume in 2015.
  • Utility & Energy was the third largest sector for Asia Pacific (ex Japan) loan market in 2015 with a total of $59.0 billion borrowed via 160 deals, down 4.6% from $61.8 billion in 2014.

Asia Pacific (ex Japan) HKD-denominated syndicated loan at second highest record in 2015

  • Fortune Real Estate Investment Trust has signed a HKD 3.2 billion 5-year term loan through joint mandated lead arrangers Bank of China, China Construction Bank, Credit Agricole CIB, DBS, OCBC and Sumitomo Mitsui Banking Corp on a club basis. The deal is spilt into a HK$1.2 billion portion and a HK$2.0 billion facility. Proceeds are to repay an existing facility signed on 11 April 2011.
  • The largest HKD-denominated syndicated loan in 2015 was CK Property Finance’s $5.2 billion facility including a HKD 22.4 billion term loan tranche signed on 30 April 2015.
  • Asia Pacific (ex Japan), HKD- denominated syndicated loan volume reached $39.6 billion in 2015, marking the second highest full year level on record behind 2014’s record high of $39.8 billion. 
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