The largest Transportation sector deal signed in Asia Pacific (ex Japan) in 2016 YTD
- Wuhan Metro Group has secured a RMB $15.2 billion facility through joint mandated lead arrangers Bank of Communications, Bank of Kunlun and China Construction Bank on a club basis. Proceeds are for capital expenditure purposes.
- This is the largest Transportation syndicated loan signed Asia Pacific (ex Japan) so far this year, followed by Asciano Finance’s $921.3 million facility signed on 12 February 2016.
- Transportation sector loan volume in Asia Pacific (ex Japan) has reached $6.2 billion so far this year, a 50% decrease on the $12.3 billion raised in 2015 YTD, marking the lowest YTD level since 2009 ($4.6 billion).
Real estate sector tops China syndicated loan market in 2016 YTD
- Greentown China Holdings has signed a $720 million term loan through sole bookrunner and mandated lead arranger HSBC. Syndication saw Bank of Communications, Bank of East Asia, Bank of Shanghai, China CITIC Bank International, China Construction Bank, China Everbright Bank (Hong Kong), China Merchants Bank (Hong Kong), China Minsheng Banking Corp, Chong Hing Bank, Dah Sing Bank, Industrial & Commercial Bank of China (Asia), Industrial Bank, Luso International Banking, Ping An Bank, Shanghai Pudong Development Bank, Tai Fung Bank, Taipei Fubon Commercial Bank and Wing Lung Bank join as mandated lead arrangers. Proceeds are to refinance a $300m existing facility signed on Sep 2013, working capital and capital expenditure purposes.
- In China, Real Estate loan stands at $6.0 billion via 19 deals so far this year- the largest sector with 24% of total market share. Finance and Transportation follows with $5.4 billion and $3.4 billion respectively.
- China syndicated loan volume amounts to $25.3 billion in 2016 YTD, a 20% drop from the $31.7 billion raised in 2015 YTD and marking the second highest YTD level on record.
The second largest deal signed in India in 2016 YTD
- Torrent Power has secured an INR 79.3 billion facility through joint bookrunners and mandated lead arrangers IDFC Bank and State Bank of India. Syndication saw Bank of Baroda, Canara Bank, HDFC Bank, IDBI Bank, Punjab National Bank and UCO Bank join as participants. Proceeds are for capital expenditure purposes.
- This is the second largest syndicated loan signed in India in 2016 YTD, after ONGC Videsh’s $1.8 billion facility signed on 4 March 2016.
- India syndicated loan volume stands at $8.4 billion so far this year, the lowest YTD level since 2009 ($7.5 billion).