Real estate top sector for loans; SE Asia volume down

CEL Unique Development, Olam Treasury and Olam International, and Chailease Finance feature in Dealogic's roundup of loans activity in Asia for October 13 to 19

Real Estate sector leads the Asia-Pacific syndicated loan market in 2017 YTD

  • CEL Unique Development has signed a S$664 million facility through joint mandated lead arrangers Bank of China, DBS, and OCBC on a club basis. Proceeds are for development and construction purposes.
  • Real Estate is the second largest sector in Singapore’s syndicated loan market in 2017 YTD. Volume stands at $7.1 billion via 15 deals so far this year, accounting for 24% of the total Singapore loan volume.
  • Real Estate sector leads the Asia-Pacific (ex-Japan) syndicated loan market in 2017 YTD, with volume stands at $49.0 billion, accounting for 15% of the region’s total syndicated loan volume.

Southeast Asia syndicated loan volume down 14% Y-o-Y

  • Olam Treasury and Olam International has signed a $1.8 billion facility through joint mandated lead arrangers ABN AMRO Bank, ANZ, Bank of Baroda, Barclays Bank, Commerzbank, Commonwealth Bank of Australia, Credit Suisse, DBS, First Abu Dhabi Bank, HSBC, JPMorgan Chase Bank, Mizuho Bank, National Australia Bank, Natixis, Standard Chartered Bank, State Bank of India, Sumitomo Mitsui Banking Corp, UniCredit Bank, and Westpac Banking Corp on a club basis. Proceeds are to refinance existing debt.
  • Singapore loan volume totals $29.9 billion so far this year, down 6% from $31.7 billion borrowed in the same period of 2016.
  • Southeast Asia syndicated loan volume totals $58.4 billion via 160 deals so far this year, down 14% from $67.7 billion borrowed in the same period of 2016 and marking the second lowest YTD level since 2011.

Taiwan syndicated loan volume down 42% Y-o-Y

  • Chailease Finance has secured a NT$4.0 billion facility through joint bookrunners and mandated lead arrangers Chang Hwa Commercial Bank, Hua Nan Commercial Bank, Land Bank of Taiwan, Taiwan Cooperative Bank, and Yuanta Commercial Bank. Syndication saw Bank SinoPac, Bank of Panhsin, Hwatai Bank, and Taiwan Shin Kong Commercial Bank join as participants. Proceeds are for working capital purposes.
  • This is the second largest Finance sector deal signed in Taiwan so far this year, after First Euro’s $214 million facility signed in June 2017.
  • Taiwan syndicated loan volume stands at $14.7 billion in 2017 YTD, down 42% from $25.2 billion borrowed in the same period of 2016 and marking the lowest YTD level since 2009.
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