Loans week May 20-26

Dealogic's weekly roundup of loans activity in Asia.

 

The third largest Transportation sector loan completed in Asia Pacific (ex Japan) in 2016 YTD

  • Zhongjiao Guigang-Longan Expressway Development has secured a RMB 14.8 billion facility through sole mandated lead arranger Agricultural Bank of China. Syndication saw Bank of China, Beijing Rural Commercial Bank, Export-Import Bank of China, Industrial & Commercial Bank of China and Postal Savings Bank of China join as participants. Proceeds are to support the construction of highway between Guigang and Longan, China.
  • This is the third largest Transportation sector deal signed in Asia Pacific (ex Japan) this YTD, behind Qingdao Airport Group’s $3.1 billion facility and Wuhan Metro Group’s $2.3 billion fundraising.
  • Asia Pacific (ex Japan) Transportation loan volume stands at $14.8 billion in 2016 YTD, down 22% year-on-year.

The second largest Metal & Steel sector loan signed in Asia Pacific (ex Japan) in 2016 YTD

  • Noble Group has signed a $1.0 billion facility through joint bookrunners Bank of Tokyo-Mitsubishi UFJ, Commonwealth Bank of Australia, DBS, HSBC Bank, ING Bank, Rabobank, Societe Generale and UOB. Syndication saw Bank of America Merrill Lynch and JP Morgan join as mandated lead arrangers, while Citibank and Union National Bank of Abu Dhabi came in as arrangers. Proceeds are to repay existing debt.
  • This is the second largest Metal & Steel sector deal signed in Asia Pacific (ex Japan) in 2016 YTD, behind Formosa Ha Tinh (Cayman)’s $2.1 billion facility.
  • The syndicated loan volume of the Metal & Steel sector in Asia Pacific (ex Japan) has reached at $6.1 billion so far this year, up 22% from $5.0 billion borrowed last YTD.

Taiwan USD-denominated loan volume at highest YTD level since 2011

  • LG Display Taiwan has secured a $320 million facility through sole bookrunner and mandated lead arranger Taishin International Bank. Syndication saw CTBC Bank, Chang Hwa Commercial Bank, Far Eastern International Bank, Jih Sun International Commercial Bank, KGI Bank, Ta Chong Bank, Taichung Commercial Bank, Taiwan Cooperative Bank and Taiwan Shin Kong Commercial Bank came in as participants. Proceeds are for general corporate purposes.
  • Taiwan USD-denominated syndicated loan volume reached $4.4 billion in 2016 YTD, up 26% from $3.5 billion borrowed in 2015 YTD, marking the highest YTD level since 2011 ($5.5 billion) and marks the third consecutive year-on-year increase since 2013.
  •  In contrast, USD-denominated syndicated loan volume in Asia Pacific (ex Japan) stands at $46.8 billion in 2016 YTD, down 23% from $61.2 billion borrowed in the same period of 2015.
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