The largest syndicated loan completed in Southeast Asia year-to-date
Charoen Pokphand Group has signed a $2.4 billion equivalent four-tranche facility through joint bookrunners and mandated lead arrangers Krung Thai Bank Public and Siam Commercial Bank. The financing is divided into two Bt19.8 billion ($529 million) tranches and two $636 million tranches.
Syndication saw CIMB Bank and Maybank Kim Eng Securities come in as mandated lead arrangers while Bank of Ayudhya, Export-Import Bank of Thailand, Government Savings Bank, ICBC, Mizuho Bank, Rabobank, Thanachart Bank and United Overseas Bank joined in as lenders. Proceeds are to repay existing indebtedness and for future investment.
It is the largest syndicated loan out of Southeast Asia so far this year. Overall, so far this year, Southeast Asian loan volume has fallen 46% year-on-year to $34.3 billion, the lowest since 2010.
The last borrowing by Charoen Pokphand Group was a $150 million facility signed on October 30 2014, led by Deutsche Bank.
The second largest loan transaction signed in Singapore year-to-date
Vitol Asia has sealed a $1.5 billion one-year credit revolver though joint bookrunners and mandated lead arrangers ANZ, Bank of China, Bank of Tokyo-Mitsubishi UFJ, Commonwealth Bank of Australia, DBS, HSBC, ING, National Australia Bank, OCBC, Standard Chartered Bank, Sumitomo Mitsui Banking Corp, UOB and Westpac.
Syndication saw Agricultural Bank of China and KBC Bank join as mandated lead arrangers while Arab Bank, First Gulf Bank PJSC, ICBC, Land Bank of Taiwan, Maybank and UBAF came in as arrangers. Proceeds are to repay existing debt and for general corporate purposes.
This is the second largest syndication loan signed in Singapore so far this year. Singapore loan volume has reached $13.4 billion so far this year, down 60% from $33.5 billion in the same 2014 period.
Total Asia Pacific ex-Japan loan volume year-to-date is $215.9 billion, a 31% drop year-on-year.
The third largest syndicated loan signed in Taiwan 2015 year-to-date
Pegatron Corp has completed a $1.5 billion facility through sole bookrunner and mandated lead arranger ANZ. The fundraising comprises of a $900 million tranche and a $600 million facility. Syndication saw Bank of America, Bank of Communications, Bank of Nova Scotia, Bank of Tokyo-Mitsubishi UFJ, Mizuho, Sumitomo Mitsui Banking Corp and UOB come in as participants. Proceeds are for receivables purchases purposes.
This is the third largest deal signed in Taiwan so far this year, after Innolux Corp’s $2.2 billion deal and China Network Systems’ $1.5 billion debt.
Taiwan syndicated loan volume has totaled a record of $17.2 billion in 2015 year-to-date, surpassing the previous record of $10.7 billion borrowed in the same 2014 period.