Real estate syndicated loan down 36% Y-o-Y in 2016 YTD
- Agile Property Holdings has signed a HK$6.7 billion term loan through joint mandated lead arrangers BNP Paribas (Hong Kong), Bank of East Asia, China CITIC Bank International, China Guangfa Bank, HSBC, Hang Seng Bank, Industrial Bank and Standard Chartered Bank on a club basis. Proceeds are to repay existing debt and for working capital purposes.
- Real Estate is the second largest sector for Asia Pacific (ex Japan) loan volume in 2016 YTD with 13% of market share. Volume drops to $17.9 billion from $27.8 billion borrowed in the same period of 2015, down 36% year-on-year.
- Finance sector tops Asia Pacific (ex Japan) loan with a 15% market share totaling $20.7 billion, slightly increase from $19.2 billion in 2015 YTD.
The second largest Construction sector loan signed in Asia Pacific (ex Japan) in 2016 YTD
- Wenzhou Communication Investment Group has signed a RMB 10 billion facility through joint mandated lead arrangers Bank of China, China Everbright Bank and Industrial & Commercial Bank of China. Syndication saw Agricultural Bank of China, Bank of Communications and Export-Import Bank of China join as participants. Proceeds are to support the highway construction.
- This is the second largest Construction sector deal signed in Asia Pacific (ex Japan) in 2016 YTD, behind Jinan-Qingdao High Speed Railway’s $4.6 billion facility.
- The syndicated loan volume of the Construction sector in Asia Pacific (ex Japan) stands at $13.6 billion so far this year, slightly down from $14.4 billion borrowed in 2015 YTD.
The second largest syndicated loan deal signed in Singapore in 2016 YTD
- Gunvor Singapore has secured a $1.04 billion facility through joint bookrunners and mandated lead arrangers DBS, First Gulf Bank, ING Bank, Maybank, Natixis, OCBC and Rabobank. Syndication saw ABN AMRO Bank, Arab Petroleum Investments Corp, CTBC Bank, Credit Agricole CIB, Emirates NBD, ICICI Bank, Societe Generale, Sumitomo Mitsui Banking Corp, UBS and UOB join as mandated lead arrangers. Proceeds are to refinance the $911.7 million facility signed 26 May 2015 and $536.6 million facility signed 3 June 2014 and for general corporate and working capital purposes.
- This is the second largest syndicated loan deal signed in Singapore this YTD, behind Trafigura’s $5.1 billion facility signed 24 Mar 2016.
- Singapore syndicated loan volume stands at $12.8 billion so far this year, increase 14% year-on-year from $11.2 billion borrowed last YTD.
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