Asia Pacific (ex Japan) Real Estate sector loan volume down 25% YoY in 2016
- Wanda Commercial Property (Hong Kong) has signed a $400 million term loan through jointed bookrunners and mandated lead arrangers China Merchants Bank, China Minsheng Banking Corp, Shanghai Rural Commercial Bank and Standard Chartered Bank. Syndication saw Far Eastern International Bank and Luso International Banking join in as arrangers while Hengfeng Bank came in as participants. Proceeds are for general corporate purposes.
- Hong Kong Real Estate sector loan volume has reached $8.4 billion via 13 deals so far this year, down 44% from the $14.9 billion raised via 17 deals in 2015 YTD, and stood at the lowest YTD volume since 2013 ($5.2 billion).
- In Asia Pacific (ex Japan), Real Estate sector’s loan volume stands at $29.0 billion in 2016 YTD, down 25% from the $38.9 billion borrowed in 2015 YTD.
Hong Kong syndicated loan volume down 20% YoY in 2016
- Future Development has signed a HK$8.0 billion facility through joint bookrunners and mandated lead arrangers Bank of China, Credit Agricole CIB, Mizuho Bank and Standard Chartered Bank. Syndication saw Bank of Communications, China Construction Bank, Chong Hing Bank, DBS, First Commercial Bank and Industrial & Commercial Bank of China join as mandated lead arrangers. Proceeds are to refinance an existing HK$5.0 billion facility signed in September 2011 and for working capital purposes.
- Hong Kong syndicated loan volume stands at $26.7 billion so far this year, down 20% from $33.3 billion borrowed in the same 2015 period and the lowest YTD level since 2013 ($18.6 billion).
The second largest Metal & Steel Sector deal signed in India in 2016 YTD
- NatSteel Asia has signed a $410 million facility through joint mandated lead arrangers AXIS Bank, Export-Import Bank of India, ICICI Bank, IndusInd Bank, SG Corporate & Investment Banking, Standard Chartered Bank and Yes Bank on a club basis. Proceeds are to repay existing debt.
- This is the second largest Metal & Steel sector deal signed in India in 2016 YTD, behind Jindal Stainless’s $954 million facility signed in April 2016.
- India syndicated loan volume stands at $22.6 billion via 111 deals so far this year, marking the lowest YTD level since 2006 ($8.9 billion).
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