Major loans in Australian utilities, Taiwanese tech

WR Carpenter No.1, Warora-Kurnool Transmission and LG Display Taiwan feature in Dealogic's roundup of loans activity in Asia for March 30 to April 5.

The second-largest Utility sector loan signed in Australia in 2018 YTD

  • WR Carpenter No.1 has signed a A$865 million facility through joint mandated lead arrangers ANZ, Agricultural Bank of China, Bank of China, Bank of Tokyo-Mitsubishi UFJ, DBS, Industrial & Commercial Bank of China, Intesa Sanpaolo, National Australia Bank, Shinhan Bank, Siemens, Sumitomo Mitsui Banking Corp, Westpac, and Woori Bank on a club basis. Proceeds are to repay existing debt.
  • This is the second-largest Utility sector deal signed in Australia so far this year, after Cleanaway Waste Management’s $694 million facility signed in March 2018.
  • In 2018 YTD, Australia syndicated loan volume stands at $12.3 billion via 31 deals, up 16% from $10.6 billion borrowed in 2017 YTD.

The third-largest loan deal signed in India in 2018 YTD

  • Warora-Kurnool Transmission has closed a INR27.9 billion facility through sole bookrunner and mandated lead arranger Yes Bank. Syndication saw Export-Import Bank of India join in as participant. Proceeds are to support the project that entails the installation of 240 MVAR Switchable Line Reactors with Bays at Warora end in each circuit of Warora-Rajnandgaon 765kV D/C line with NGR covered under the development of additional inter-regional AC link for import into Southern region that is the Warora-Warangal and Chilakaluripeta – Hyderabad – Kurnool 765 kV link.
  • This is the third-largest deal signed in India in 2018 YTD, behind TML Holdings’ $906 million facility signed in January 2018 and Axis Bank’s $525 million facility signed in March 2018.
  • In India, syndicated loan volume totals $5.5 billion in 2018 YTD, down 73% from $20.3 billion borrowed in the same period of 2017.

The third-largest Technology sector deal signed in Taiwan in 2018 YTD

  • LG Display Taiwan has signed a $289 million facility through sole bookrunner and mandated lead arranger Taishin International Bank. Syndication saw Far Eastern International Bank join as mandated lead arranger; while KGI Bank and Taipei Fubon Commercial Bank join as participants. Proceeds are for general corporate purposes.
  • This is the third-largest Technology sector deal signed in Taiwan so far this year, behind Powerchip Technology’s $854 million facility signed in March 2018 and General Interface Solution Holding’s $300 million facility signed in February 2018.
  • Technology is the largest sector for Taiwan syndicated loans market in 2018 YTD. Volume stands at $2.1 billion via 9 deals, accounting for 40% of Taiwan’s total loan volume.
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