Loans week June 19-25

A roundup of the latest syndicated loan market news.

The second largest utility & energy sector facility signed in India in 2015 year-to-date

Adani Power Rajasthan has signed a Rs44.7 billion term loan through sole bookrunner and mandated lead arranger IDBI Bank. Syndication saw Bank of India, Punjab & Sind Bank, South Indian Bank, State Bank of India, Syndicate Bank and Vijaya Bank join in as lenders. Proceeds are to support the construction of a 1320 MW Supercritical Thermal Power Station located in Village Kawai, Tahsil Atru, District Baran, State Rajasthan, India.

The deal is the second largest utility & energy sector facility in India so far this year, after RattanIndia Nasik Power’s $953 million facility signed 28 February 2015.

India syndicated loan volume totals $18.7 billion in 2015 year-to-date, down from $47.2 billion in 2014 year-to-date. This is in line with an overall fall in Asia Pacific (ex Japan) loan volume to $187.7 billion in 2015 YTD, down 32% year-on-year.

Utility & Energy sector leads China industry ranking

Guangxi Fang Cheng Gang has completed a Rmb3.6 billion transaction through sole bookrunner and mandated lead arranger Industrial & Commercial Bank of China. Final syndication saw the lead contribute Rmb1.6 billion while Agricultural Bank of China and Bank of China took Rmb1.25 billion and Rmb714 million, respectively. Proceeds are for capital expenditure purposes.

The utility & energy sector loans account for 35% of China loan volume in 2015 year-to-date with a record $15.7 billion via eight deals in 2015 year-to-date, and up from just $3.4 billion lent in the same 2014 period.

China syndicated loan volume reached a record $45.3 billion in 2015 year-to-date, surpassing the previous 2014 year-to-date record ($40.9 billion).

Indonesia loan volume fell down 26% year-on-year

PT Royal Industries Indonesia has inked a $380 million debt package though joint bookrunners and mandated lead arrangers CTBC Bank, Deutsche Bank, First Gulf Bank PJSC and Indonesia Eximbank.

Syndication saw Industrial & Commercial Bank of China and Siemens Financial Services join as mandated lead arrangers while BDO Unibank, Chang Hwa Commercial Bank, Hua Nan Commercial Bank, Krung Thai Bank, Land Bank of Taiwan, PT Bank Mandiri (Persero), PT Bank Rakyat Indonesia (Pesero) and Taishin International Bank came in as arrangers. Bank of Taiwan, DZ Bank, First Commercial Bank and Taichung Commercial Bank concluded the deal as participants.

Loan volume from Indonesian borrowers fell 26% to $6.7 billion in 2015  year-to-date, from $9 billion lent in the 2014 year-to-date while Southeast Asia loan volume totals $28.2 billion in 2015 year-to-date, also down 47% year-on-year.


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