China onshore syndicated loan volume set
- Shijiazhuang Metro Construction has signed a RMB $6.8 billion facility through joint mandated lead arrangers Agricultural Bank of China and China Development Bank. Syndication saw Bank of China, Bank of Communications, China Construction Bank, China Everbright Bank and Industrial & Commercial Bank of China join as participants. Proceeds are to support the construction of Shijiazhuang Metro Line 2.
- The deal has pushed China onshore syndicated loan volume to $50.1 billion via 109 deals, down 6% from the record $53.1bn lent in 2015 YTD.
Finance sector syndicated loan up 13% YoY in Asia Pacific (ex Japan)
- CIMC Fortune Holdings has clubbed a $1.5 billion facility through joint mandated lead arrangers Bank of China, Bank of Communications, China Construction Bank, China Development Bank, China Merchants Bank and Industrial & Commercial Bank of China. Proceeds are for general corporate purposes.
- The deal brings Asia Pacific (ex Japan) Finance sector loan volume to $27.9 billion so far this year, up 13% year-on-year and the only sector amongst the top three sectors to show a year-on-year increase in volume. Despite the increase, overall Asia Pacific (ex Japan), syndicated loan has dropped to $218.1 billion in 2016 YTD, the lowest YTD level since 2012 ($192.6 billion).
The largest deal signed in Malaysia in 2016 YTD
- MISC Capital has concluded a $1.0 billion leveraged loan through joint mandated lead arrangers DBS, HSBC, Mizuho Bank and OCBC on a club basis. Proceeds are for repaying existing debt.
- This is the largest deal signed in Malaysia so far this year, followed by PNB Jersey’s $889 million facility and Maybank’s $850 million fundraising.
- Malaysia syndicated loan volume stands at $4.3 billion so far this year, down 51% from $8.8 billion borrowed last YTD and the lowest level for the period since 2010 ($4.2 billion)
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