The second largest Construction sector syndicated loan signed in China in 2016 YTD
· Shenzhen-Zhongshan Cross-river Tunnel Project has signed a RMB 22.6 billion facility through joint mandated lead arrangers Agricultural Bank of China, Bank of China, Bank of Communications, China Construction Bank, Export-Import Bank of China and Industrial & Commercial Bank of China on a club basis. Proceeds are to support Shenzhen-Zhongshan cross river tunnel construction.
· This is the second largest Construction sector syndicated loan signed in China so far this year, behind Jinan-Qingdao High Speed Railway’s $4.6 billion facility signed in May 2016.
· Construction is the second largest sector for China syndicated loan volume with $22.5 billion signed so far this year, accounting for 17% of the total China loan market.
India syndicated loan volume at lowest YTD level since 2008
· Ramagundam Fertilizers & Chemicals has secured an INR $39.4 billion facility through sole bookrunners and mandated lead arranger State Bank of India. Syndication saw Bank of India, Dena Bank, Oriental Bank of Commerce, Union Bank of India and Vijaya Bank join as participants. Proceeds are to finance natural gas based jurea manufacturing complex, Ramagundam.
· This is the second largest Chemicals sector syndicated loan signed in India in 2016 YTD, after SKI Carbon Black (Mauritius)’s $925 million fundraising signed in March 2016.
· India syndicated loan volume totals $35.3 billion so far this year, down 24% year-on-year, marking the lowest YTD level since 2008 ($31.2 billion).
Macao syndicated loan volume at lowest YTD level since 2009
· Dynamic Apex Macao Commercial Offshore has signed a $300 million facility through joint bookrunners and mandated lead arrangers Bank of China, DBS, KGI Bank, Mega International Commercial Bank and Taipei Fubon Commercial Bank. Syndication saw Chang Hwa Commercial Bank, E Sun Commercial Bank and Taishin International Bank join as mandated lead arrangers, while Bank of East Asia, Far Eastern International Bank, Jih Sun International Commercial Bank, Land Bank of Taiwan, Shanghai Commercial & Savings Bank, Ta Chong Bank, Taiwan Cooperative Bank, Taiwan Shin Kong Commercial Bank and Yuanta Commercial Bank came in as participants. Proceeds are to refinance the $190m facility signed in August 2013 and the $200m facility signed in August 2014 and for working capital purposes.
· This is the largest deal in Macao so far this year, followed by Lee Kwok (Macao Commercial Offshore) Trading’s $258 million fundraising signed in August 2016.
· Macao syndicated loan volume has reached $816 million in 2016 YTD, down 92% year-on-year, marking the lowest YTD level since 2009 ($120 million).
