Transportation leads Asia Pacific (ex Japan) loan sector ranking
- Genting Hong Kong has signed a $500 million facility through joint bookrunners and mandated lead arrangers BNP Paribas, Credit Agricole CIB, DnB ASA, Maybank and RHB Bank. Syndication saw OCBC join as mandated lead arranger while E Sun Commercial Bank and Hua Nan Commercial Bank came in as arrangers. Proceeds are for general corporate purposes and to repay existing debt.
- The deal is the second largest Transportation sector deal signed in Hong Kong in 2016 YTD, behind MTR Corp’s $3.2 billion facility. Transportation is the leading sector for Asia Pacific (ex Japan) syndicated loan volume with $29.8 billion via 45 deals so far this year, but volume is down 25% from 2015 YTD ($39.5 billion).
The third largest Technology sector deal signed in China in 2016 YTD
- Tianjin Qixin Zhicheng Technology has wrapped up a RMB 22.0bn loan this month. The loan is split into a RMB 2.6 billion bilateral loan and a RMB 19.4 billion term loan. The latter portion of the loan was concluded through sole bookrunner and mandated lead arranger China Merchants Bank. Syndication saw Bank of Beijing, Beijing Rural Commercial Bank, China CITIC Bank, Industrial Bank and Shanghai Pudong Development Bank join as mandated lead arrangers. Proceeds are to support the $9.1 billion leveraged buyout for the borrower.
- The deal is the third largest Technology sector deal signed in China so far this year, behind Tencent Asset Management’s $4.4 billion fundraising and Alibaba Group Holding’s $4.0 billion borrowing.
- Asia Pacific (ex Japan) Technology sector loan volume has reached a record $19.7 billion so far this year, up 33% year-on-year.
Asia Pacific (ex Japan) Retail sector loan volume more than tripled year-on-year
- Tiffany & Co (Shanghai) has secured a RMB 990.0 million facility through joint bookrunners and mandated lead arrangers Bank of America Merrill Lynch and Mizuho Bank. Syndication saw ANZ, Bank of Tokyo-Mitsubishi UFJ, JPMorgan and Sumitomo Mitsui Banking Corp join as mandated lead arrangers. Proceeds are to refinance the RMB 930 million facility signed 19 Jul 2013 and for working capital purposes.
- The deal is the fifth largest Retail sector syndicated loan deal signed in Asia Pacific (ex Japan) in 2016 YTD and brings the sector’s loan volume to $9.4 billion so far this year, more than triple the $3.0 billion lent in 2015 YTD.
Click for full view
¬ Haymarket Media Limited. All rights reserved.
