Oil and Gas loans push up; acquisition related loans slump

Trafigura signs third largest oil and gas loan in southeast Asia, but acquisition related loans fall 14.6% YoY in Dealogic's roundup of loans activity in Asia for October 5 to 11.

Acquisition related syndicated loan down 14.6% YoY

  • STP Finco has signed a A$1.12 billion bridge facility through joint bookrunners and mandated lead arrangers ANZ, Agricultural Bank of China, Bank of China and Commonwealth Bank of Australia. Syndication saw Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Credit Agricole CIB Australia, Export Development Canada, ING Bank Australia, Industrial & Commercial Bank of China, KEB Hana Bank, Mizuho Bank, National Australia Bank,  Societe Generale Australia,   Sumitomo Mitsui Banking Corp and Westpac came in as participants.  Proceeds are to support the Transurban Group's acquisition of Sydney Motorway.
  • In Australia, acquisition related loan stands at $8.6 billion in 2018 YTD, down 18.6% from $10.6 billion in the same period of 2017.
  • In Asia Pacific (ex Japan), acquisition related loan amounts $28.2 billion so far this year, down 14.6% year-on-year. 

Finance sector loan increase

  • Minsheng Hong Kong International Leasing has secured a $510 million team loan through joint bookrunners and mandated lead arrangers Credit Suisse and E.Sun Commercial Bank. Syndication saw Bank of China, China Zheshang Bank and First Abu Dhabi Bank came in as mandated lead arrangers and Bank of East Asia, Industrial & Commercial Bank of China and Shanghai Pudong Development Bank came in as arrangers. Cathay Bank, East West Bank, Hua Nan Commercial Bank, Shanghai Commercial & Savings Bank, Sunny Bank and Taiwan Cooperative Bank came in as participants.  Proceeds are to repay existing debt and for working capital purposes.
  • Finance sector loans amount to $40.9 billion in Asia Pacific (ex Japan) so far this year, increase from $29.5 billion in 2017 YTD.

Third largest Oil & Gas loan signed in Southeast Asia

  • Trafigura has signed a $1.95 billion facility through  joint bookrunners and mandated lead arrangers ANZ, Bank of China, DBS, Industrial & Commercial Bank of China, OCBC and Sumitomo Mitsui Banking Corp. Syndication saw First Abu Dhabi Bank, UOB, Westpac joined as mandated lead arrangers while CTBC Bank, CBA, Emirates NBD PJSC, KBC,  Korea Development Bank, Maybank, Mizuho Bank,  National Australia Bank, Sumitomo Mitsui Trust Bank, Taichung Commercial Bank, Taiwan Business Bank, Taiwan Cooperative Bank and Union de Banques Arabes et Francaises came in as arrangers. Proceeds are to refinance the maturing 3-year term loan tranche from 2015 and the maturing 1-year USD and 1-year CNH tranches from 2017.
  • This is the third largest Oil & Gas loan signed in Southeast Asia in 2018 YTD, behind PRPC Refinery & Cracker’s $7.0 billion facility signed in March 2018 and Vitol Asia’s $1.86 billion facility signed in July 2018.
  • Oil & Gas sector syndicated loan totals $37.6 billion in 2018 YTD, huge jump from $24.6 billion of last year. 


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