Major loans in China finance, Indonesia, Taiwan

Zhejiang Zheshang Asset Management, Delta Dunia Textile and Motech Industries feature in Dealogic's roundup of loans activity in Asia for February 2 to 8.

The second-largest Finance sector deal signed in China in 2018 YTD

  • Zhejiang Zheshang Asset Management has signed a RMB 750 million facility through joint bookrunners and mandated lead arrangers Fubon Bank, KEB Hana Bank, and Nanyang Commercial Bank. Syndication saw Bank SinoPac, First Commercial Bank, and Taiwan Cooperative Bank join as arrangers. Proceeds are for working capital purposes.
  • This is the second-largest Finance sector deal signed in China so far this year, after Ping An Leasing Hong Kong Holdings’ $340 million facility signed in January 2018.
  • In 2017, China syndicated loan volume stood at $161.8 billion, down 10% from $179.5 billion borrowed in 2016, which also reversed the upward trend since 2011.

The second-largest syndicated loan signed in Southeast Asia in 2018 YTD

  • Delta Dunia Textile has signed a $150m dual-tranche facility through joint bookrunners and mandated lead arrangers BNPP, Maybank, Qatar National Bank, and Standard Chartered Bank. Syndication saw First Abu Dhabi Bank and Indonesia Eximbank join as mandated lead arrangers; while First Commercial Bank, Indian Bank, Union Bank of India, Woori Global Markets Asia, and Yuanta Commercial Bank came in as arrangers. Proceed are to finance the construction of a spinning factory in Java, Indonesia and for working capital purposes.
  • This is the second-largest deal signed in Southeast Asia so far this year, after Hengyuan Refining’s $430 million facility signed in January 2018.
  • In 2017, Indonesia syndicated loan volume stood at $22.8 billion via 76 deals, which marked the highest full-year level on record.

The second-largest facility signed in Taiwan in 2018 YTD

  • Motech Industries has signed a NT$4.8 billion facility through joint bookrunners and mandated lead arrangers Bank of Taiwan, Chang Hwa Commercial Bank, and Mega International Commercial Bank. Syndication saw Taiwan Cooperative Bank join as arranger, while Agricultural Bank of Taiwan, EnTie Commercial Bank, First Commercial Bank, Shanghai Commercial Bank, and Taiwan Business Bank came in as participants. Proceeds are to refinance a NT$6.4 billion facility that was signed in August 2015 for working capital purposes.
  • This is the second-largest facility signed in Taiwan in 2018 YTD, after Casetek Holdings’ $360 million fundraising signed in January 2018.
  • Technology was the second largest sector for Taiwan syndicated loans market in 2017. Volume stood at $7.6 billion via 34 deals, down 39% from the $12.5 billion borrowed in 2016.
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