The second largest Technology sector loan completed in Asia Pacific (ex Japan) on reocrd
- Alibaba Group has secured a $4.0 billion term loan through joint bookrunners and mandated lead arrangers ANZ, Bank of China, Bank of Communications (Hong Kong), Bank of East Asia, China Construction Bank (Asia), China Merchants Bank (Hong Kong), Citibank, Credit Suisse, DBS, Deutsche Bank (Singapore), Goldman Sachs (Asia), Industrial & Commercial Bank of China, JPMorgan (Hong Kong), Mizuho Bank (Hong Kong), Morgan Stanley Bank, Nanyang Commercial Bank, Standard Chartered Bank (Hong Kong) and Wing Lung Bank. Syndication saw Hang Seng Bank and Wells Fargo Bank join as mandated lead arrangers while Cathay United Bank, KGI Bank, Mega International Commercial Bank (Offshore Banking), Sumitomo Mitsui Banking Corp and Taishin International Bank came in as arrangers. Proceeds are for general corporate, working capital and future acquisition purposes.
- The deal is the second largest Technology sector deal signed in Asia Pacific (ex Japan) on record, behind the borrower’s previous $8.0 billion facility signed on 30 April 2013.
- In Asia Pacific (ex Japan), Technology sector syndicated loan volume stands at $7.4 billion via 26 deals in 2016 YTD, down 15% from $8.7 billion via 18 deals in 2015YTD.
The largest syndicated loan signed in Taiwan in 2016 YTD
- Formosa Ha Tinh (Cayman) has signed a $2.1 billion facility through joint bookrunners and mandated lead arrangers Bank of Taiwan, DBS, Hua Nan Commercial Bank, Mega International Commercial Bank and Taipei Fubon Commercial Bank. Syndication saw Bank SinoPac, CTBC Bank, Cathay United Bank, Chang Hwa Commercial Bank, E Sun Commercial Bank, KGI Bank, Shanghai Commercial & Savings Bank, Taishin International Bank and Taiwan Cooperative Bank join as mandated lead arrangers while Bank of Kaohsiung, Export-Import Bank of the Republic of China, Far Eastern International Bank, Industrial Bank of Taiwan, Jih Sun International Commercial Bank, Land Bank of Taiwan, Sunny Bank, Ta Chong Bank, Taichung Commercial Bank, Taiwan Business Bank and Taiwan Shin Kong Commercial Bank came in as participants. Proceeds are to repay existing indebtedness and for capital expenditure purposes.
- This is the largest deal signed in Taiwan in 2016 YTD, followed by Wealth Media’s $1.8 billion facility and Ching Fu Shipbuilding’s $762 million borrowing.
- Taiwan syndicated loan volume has reached $10.0 billion in 2016 YTD, up 15% year-on-year, and the highest YTD level since 2011 ($13.7 billion).
Asia Pacific (ex Japan) USD-denominated syndicated loan volume decrease 17% YoY
- Hindustan Petroleum Corp has wrapped up a $465 million term loan through joint bookrunners and mandated lead arrangers Bank of Tokyo-Mitsubishi UFJ, DBS, Mizuho Bank, Sumitomo Mitsui Banking Corp and UOB. Syndication saw Bank of China join as mandated lead arranger while DZ Bank came in as arranger. Proceeds are to refinance the $465 facility signed 29 Sep 2011.
- India USD-denominated syndicated loan volume has reached $5.9 billion in 2016 YTD, a slight decrease from 2015 YTD’s $6.1 billion raised.
- Similarly, Asia Pacific (ex Japan) USD-denominated syndicated loan volume stands at $42.1 billion in 2016 YTD, down 17% from $50.6 billion borrowed in the same period of 2015.
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