China syndicated loan volume at second highest YTD level on record
- Country Garden Holdings has secured a $1.2 billion facility through joint bookrunners and mandated lead arrangers Bank of China, China Construction Bank, Hang Seng Bank, HSBC, Industrial & Commercial Bank of China, Shanghai Pudong Development Bank, and Standard Chartered Bank. Syndication saw Bank of Beijing and China Minsheng Banking Corp joined as mandated lead arrangers, while Bank of Shanghai, Chong Hing Bank, and Luso International Banking came in as arrangers; Maybank and Taiwan Cooperative Bank joined in as participants. Proceeds are for general corporate purposes.
- Real Estate is the second largest sector for China syndicated loan market so far this year, with $19.0 billion signed in 2017 YTD, accounting for 16.5% of total China loan volume.
- China syndicated loan volume stands at $115.5 billion in 2017 YTD, down 24% from $152.0 billion borrowed in the same period of 2016 and marking the second highest YTD level on record.
The largest Real Estate sector deal signed in Malaysia in 2017 YTD
- PR1MA Corporation Malaysia has signed a MYR 2.5 billion facility through joint mandated lead arrangers AmInvestment Bank, CIMB Islamic Bank, Maybank Islamic, and RHB Islamic Bank on a club basis. Proceeds are to part finance the construction of the affordable housing projects.
- This is the largest Real Estate sector deal signed in Malaysia in 2017 YTD, followed by MFBBCC Retail Mall’s $270 million facility and THP Wentworth Point (Labuan) Corp’s $123 million fundraising, both signed in March 2017.
- Malaysia syndicated loan volume totals $8.0 billion so far this year, slightly increasing from $7.5 billion borrowed in the same period of 2016 and marking the second lowest YTD level since 2011.
Southeast Asia syndicated loan volume down 10% Y-o-Y
- Cal-Comp Electronics (Thailand) and Logistar International Holding have secured a $216 million facility through joint bookrunners and mandated lead arrangers Bank SinoPac, E.Sun Commercial Bank, Land Bank of Taiwan, Mega International Commercial Bank, Taipei Fubon Commercial Bank, Taishin International Bank, and Taiwan Cooperative Bank. Syndication saw Chang Hwa Commercial Bank, Far Eastern International Bank, KGI Bank, Shanghai Commercial & Savings Bank, Taiwan Business Bank, and Yuanta Commercial Bank join as participants. Proceeds are to refinance a $180 million facility signed in March 2014 and for working capital purposes.
- Thailand syndicated loan volume stands at $4.9 billion via 17 deals in 2017 YTD, down 54% from $10.6 billion borrowed in the same period of 2016.
- In Southeast Asia, syndicated loan volume stands at $61.7 billion via 169 deals in 2017 YTD, down 10% from $68.6 billion borrowed in the same period of 2016, and marking the lowest YTD level since 2015 ($57.2 billion).