North Asia syndicated loan volume at highest YTD level on record
Chongqing Victor Shiny Real Estate Development and Victor Shiny have secured a $132.2 million syndicated loan with Standard Chartered Bank and Wing Lung Bank on a club basis. The facility contains a RMB million dual-currency term loan through joint-mandated lead arrangers China CITIC Bank International 300 million credit and a $85 million portion. Proceeds are to repay existing debt and support property project and for working capital purposes.
China syndicated loan volume has reached a YTD record high of $91.5 billion in 2015, up 22% from the $74.7 billion recorded in the same period of 2014.
North Asia syndicated loan volume totals $195.3 billion via 453 deals in 2015 YTD, up 17% on the $167.0 billion via 594 deals borrowed in the same 2014 period and also the highest YTD level on record.
HKD-dominated syndicated loan volume at the second highest YTD level on record
Capital Court has signed a HK$3.6 billion four-year term loan through joint mandated lead arrangers BNP Paribas, Bank of China, Bank of Communications, Bank of East Asia, China Construction Bank, Chiyu Banking, Chong Hing Bank, DBS, Hang Seng Bank, ICBC, Shanghai Commercial bank, Standard Chartered Bank, Sumitomo Mitsui Banking Corp and UOB on a club basis. Proceeds are for capital expenditure purposes.
HKD-dominated syndicated loans volume stands at $33.3 billion in 2015 YTD, the second highest YTD level on record behind 2014 ($34.2 billion).
USD is the leading currency for Asia Pacific (ex Japan) loans with $119.9 billion so far this year, down 31% from $173.8 billion borrowed in the same period of 2014.
The largest Food & Beverage facility in Asia Pacific (ex Japan) signed in 2015 YTD
Olam International has secured a $1 billion facility through joint mandated lead arrangers ANZ, BBVA, BNP Paribas, Bank of Nova Scotia Asia, Bank of Tokyo-Mitsubishi UFJ, Commerzbank, Commonwealth Bank of Australia, Cooperatieve Centrale Raiffeisen-Boerenleenbank, DBS, HSBC, Intesa Sanpaolo SpA, JPMorgan, Korea Development Bank, Mizuho Bank, National Australia Bank, Natixis, Standard Chartered Bank, Sumitomo Mitsui Banking Corp and Westpac on a club basis. Proceeds are to repay existing debt and for working capital purposes.
This is the largest Food & Beverage sector facility in Asia Pacific (ex Japan) in 2015 YTD, followed by Fonterra Cooperative Group’s $886.4 million fundraising in April.
Asia Pacific (ex Japan) Food & Beverage sector syndicated loan volume totals $9.8 billion via 28 deals so far this year, down 52% from the $20.2 billion via 47 deals in 2014 YTD.