Asia Pacific (ex Japan) Oil & Gas loan soar high in 2018 YTD
- Fortune Oil PRC Holdings has signed a $428.9 million facility through joint bookrunners and mandated lead arrangers Bank of East Asia, China Construction Bank, Chiyu Banking Corp, Hang Seng Bank, UBS and Yuanta Commercial Bank. Syndication saw CMB Wing Lung Bank, CTBC Bank, Fubon Bank, KGI Bank and Taiwan Cooperative Bank came in as mandated lead arrangers. Proceeds are to refinance the $380m facility signed in May 2016 and for working capital purposes.
- In China, Oil & Gas syndicated loan totals $9.9 billion so far this year, huge increase from $1.4 billion of last year YTD.
- In Asia Pacific (ex Japan), Oil & Gas syndicated loan stands at $40.9 billion in 2018 YTD, the second highest YTD level on record, just behind 2014 YTD’s $43.0 billion.
Australasia loan increase 23% YoY
- Cornerstone Infrastructure Partners has secured a NZ$762 million term loan through joint mandated lead arrangers ANZ, KFW, MUFG Bank, Mizuho Bank and Natixis on a club basis. Proceeds are financing the New Waikeria Prison PPP, the green field development of the 600-inmates capacity prison including a 100-inmate capacity mental health and behavioral precinct.
- New Zealand syndicated loan stands at $4.4 billion in 2018 YTD, a significant drop from $7.1 billion in the same period of 2017.
- In Australasia, loan totals $80.85 billion so far this year, up 23% from2017 YTD’s $65.8 billion.
Taiwan real estate loans mark highest YTD level
- Wei Kang Construction has signed a NT$1.5 billion facility through sole bookrunner and mandated lead arranger Land Bank of Taiwan. Syndication saw Agricultural Bank of Taiwan came in as mandated lead arranger while Bank of Taiwan and Sunny Bank joined as participants. Proceeds are for refinancing an existing facility signed in Sep 2017.
- Taiwan real estate syndicated loan totals $2.3 billion in 2018 YTD, marking the highest level on record.
- Loans in Taiwan stands at $24.4 billion so far this year, down 3% compared to last year’s $25.2 billion.