Technology is the third largest sector for China loan volume in 2016 YTD
- BOE Technology Group has signed a $958 million facility with sole mandated lead arranger China Development Bank. Syndication saw Export-Import Bank of China join as participant. Proceeds are to support the development of the new semiconductor display production line Fuzhou BOE 8.5 generation and for capital expenditure purposes.
- Technology is the third largest sector for China loan volume in 2016 YTD. Volume stands at $20.7 billion so far this year, almost five times over $4.5 billion borrowed in 2015 YTD.
- China syndicated loan volume stands at $142.0 billion via 282 deals so far this year, up 21% from the $117.2 billion borrowed in 2015 YTD.
Asia Pacific (ex Japan) Finance sector loan volume down 7% YoY
- Huarong International Financial Holdings has signed a HK$3.0 billion facility through joint bookrunners and mandated lead arrangers Bank of China, Bank of East Asia, Chong Hing Bank and Far Eastern International Bank, while Bank Sinopac, Cathay United Bank, Chang Hwa Commercial Bank, China Minsheng Banking Corp and Tai Fung Bank join in as mandated lead arrangers. Syndication saw Bank of Taiwan, CTBC Bank, Fubon Bank, KDB Asia, KEB Hana Bank, KGI Bank, Mega International Commercial Bank, OCBC, Taichung Commercial Bank and Taishin International Bank join as arrangers. Proceeds are for working capital purposes.
- Hong Kong syndicated loan market has raised $37.7 billion via 78 deals so far this year, accounting for 10% of Asia Pacific (ex Japan) total loan volume.
- In Asia Pacific (ex Japan), Finance sector loan volume stands at $41.5 billion in 2016 YTD, down 7% from $44.8 billion borrowed in the same period of 2015.
India syndicated loan volume at lowest YTD level since 2008
- Thermal Powertech Corp India has wrapped up an INR 50.9 billion facility. The loan is split into an INR 3.2 billion bilateral loan and an INR 47.7 billion term loan. The latter portion of the loan was concluded through sole bookrunner and mandated lead arranger State Bank of India. Syndication saw Andhra Bank, Bank of Baroda, Punjab National Bank, State Bank of India and United Bank of India come in as participants. Proceeds are to repay existing debt and for capital expenditure purposes.
- This is the third largest Utility & Energy sector loan signed in India so far this year, behind Sasan Power’s $1.7 billion facility and Torrent Power’s $1.2 billion fundraising.
- India syndicated loan volume totals $39.6 billion in 2016 YTD, down 16% from $47.4 billion borrowed in 2015 YTD, marking the lowest YTD level since 2008 ($31.7 billion).
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