The largest syndicated loan signed in Australia in 2016 YTD
- Port of Melbourne has signed a A$4.6 billion facility through joint mandated lead arrangers ANZ, BNP Paribas, Bank of America Merrill Lynch, Bank of China, Bank of Nova Scotia Asia, Bank of Tokyo-Mitsubishi UFJ, Canadian Imperial Bank of Commerce, China Construction Bank, Commonwealth Bank of Australia, DBS, Export Development Canada, ING, Industrial & Commercial Bank of China, National Australia Bank, Natixis, SG Corporate & Investment Banking and Sumitomo Mitsui Banking Corp on a club basis. Proceeds are to support the $7.3 billion acquisition of Port of Melbourne from the State of Victoria.
- This is the largest syndicated loan signed in Australia so far this year, followed by Origin Energy’s $3.4 billion facility in October 2016 and Asciano Finance’s $3.0 billion fundraising in August 2016.
- Australia syndicated loan volume stands at $55.5 billion so far this year, down 31% from $80.4 billion borrowed last YTD and marking the lowest total for this period since 2010 ($50.5 billion).
Asia Pacific (ex Japan) Oil & Gas sector loan volume down 5% YoY
- Mercuria Asia Group Holdings and Mercuria Energy Trading have signed a $900 million triple-tranche facility through joint bookrunners and mandate lead arrangers ANZ, Bank of Tokyo-Mitsubishi UFJ, DBS, Emirates NBD, ING, Industrial & Commercial Bank of China, Mizuho Bank, OCBC, SG Corporate & Investment Banking, Sumitomo Mitsui Banking Corp and UOB. Syndication saw Bank of China and Rabobank join as mandated lead arrangers while Arab Petroleum Investments Corp, Banco do Brasil, Bank of Panhsin, CTBC Bank, E.Sun Commercial Bank, First Gulf Bank, Hang Seng Bank and Union de Banques Arabes et Francaises came in as arrangers. Proceeds are to refinance an existing facility signed in November 2015 and for general corporate and working capital purposes.
- Asia Pacific (ex Japan) Oil & Gas sector loan volume stands at $34.1 billion in 2016 YTD, down 5% from $36.0 billion borrowed in the same period of 2015.
- Total Asia Pacific (ex Japan) syndicated loan totals $398.4 billion via 1093 deals, drop 12% year-on-year from $451.1 billion in 2015 YTD via 1253 deals.
Singapore syndicated loan volume increases 16% YoY
- Asia Square Tower 1 has signed a S$2.1 billion facility through joint mandated lead arrangers DBS, Maybank, OCBC and UOB on a club basis. Proceeds are to refinance an existing facility signed in April 2014.
- This is the largest Real Estate sector syndicated loan signed in Singapore so far this year, followed by South Beach Consortium’s $1.2 billion facility in April 2016 and Perennial Shenton Property’s $738 million fundraising in August 2016.
- Singapore syndicated loan volume stands at $33.8 billion so far this year, up 16% from $29.2 billion borrowed last YTD.
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