Loans week June 23-30

Dealogic's weekly roundup of loans activity in Asia.

Asia Pacific (ex Japan) acquisition-related* loan volume increases 63% YoY

·         Interplex has secured a $456 million facility through joint bookrunners and mandated lead arrangers CTBC Bank, Cathay United Bank, DBS, Standard Chartered Bank and UOB. Syndication saw ANZ, China Minsheng Banking Corp, E.Sun Commercial Bank, ICICI Bank, ING Bank, Korea Development Bank, Mega International Commercial Bank, Sumitomo Mitsui Banking Corp and Taishin International Bank join as mandated lead arrangers. Proceeds are to support the S$768m Baring Private Equity Asia-led leveraged buyout of Interplex Holdings.

·         This is the second largest acquisition-related* loan signed in Singapore so far this year, after UT Singapore Services’ $1.3 billion facility.

·         In Asia Pacific (ex Japan), acquisition-related* loan volume has reached $40.3 billion via 57 deals so far this year, a 62% increase from the $24.9 billion volume borrowed in 2015 YTD.

*Includes deals where use of proceeds is one of acquisitions, future acquisitions, spinoffs, and LBOs

The third largest deal signed in Taiwan in 2016 YTD

·         Radium Life Tech has sealed a NT$25 billion facility through joint bookrunners and mandated lead arrangers Bank of Taiwan, Mega International Commercial Bank and Taiwan Cooperative Bank. Syndication saw Agricultural Bank of Taiwan, Bank SinoPac, Bank of East Asia, CTBC Bank, Cathay United Bank, Chang Hwa Commercial Bank, DBS, Far Eastern International Bank, First Commercial Bank, Hua Nan Commercial Bank,  Industrial Bank of Taiwan,  Shanghai Commercial & Savings Bank, Taichung Commercial Bank, Taiwan Business Bank and Yuanta Commercial Bank join as arrangers, while Bank of Kaohsiung, E.Sun Commercial Bank, Export-Import Bank of the Republic of China, Hwatai Bank, Jih Sun International Commercial Bank and Ta Chong Bank came in as participants. This is an amendment to an existing $848 million facility signed April 2012 to extend tenor by 1.5 years. Proceeds are to support the development of a residential project in New Taipei City's Banqiao.

·         This is the third largest syndicated loan signed in Taiwan in 2016 YTD, after Formosa Ha Tinh (Cayman)’s $2.1 billion facility and Wealth Media’s $1.8 fundraising.

·         Taiwan syndicated loan volume amounts to $14.4 billion in 2016 YTD, an 18% drop from the $17.5 billion raised in 2015 YTD.

The second largest Auto sector deal signed in Asia Pacific (ex Japan) in 2016 YTD

·         Ningbo Joyson Electronic has secured a $555 million facility through joint mandated lead arrangers Bank of China and Industrial & Commercial Bank of China on a club basis. Proceeds are to support the $920 million acquisition of Key Safety Systems from FountainVest Partners, Canada Pension Plan Investment Board and Crestview Partners.

·         This is the second largest Auto sector syndicated loan signed Asia Pacific (ex Japan) so far this year, after China Grand Automotive Services’ $813 million facility signed on 18 May 2016.

·         Auto sector loan volume in Asia Pacific (ex Japan) has reached $3.3 billion so far this year, a 39% decrease on the $5.4 billion raised in 2015 YTD.

 

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