Auto sector loan drop in APAC (ex-Japan) in 2017 YTD
Great Wall Motor has signed a $350m facility through sole bookrunner and mandated lead arranger Deutsche Bank. Syndication saw China Construction Bank (Asia), Commerzbank, Industrial & Commercial Bank of China (Asia), and Intesa Sanpaolo S.p.A join as mandated lead arrangers which Nanyang Commercial Bank, Hang Seng Bank, ING Bank, Sumitomo Mitsui Banking Corporation, Korea Development Bank, and KDB Asia came in as arrangers; while Taiwan Cooperative Bank and Taishin International Bank come in as participants. Proceeds are for general corporate purposes including future acquisitions, investments and capital expenditures.
In Asia Pacific (ex-Japan), Auto sector loan volume stands at $4.9 billion in 2017 YTD, drop 39% from $8.0 billion borrowed in 2016 YTD.
China loan volume totals $112.9 billion so far this year, marking the second highest record following 2016 YTD’s $143.7 billion.
Hong Kong syndicated loan volume down 8% Y-o-Y in 2017
Sky United Trading has secured a $300 million facility through joint bookrunners and mandated lead arrangers Hang Seng Bank, Nanyang Commercial Bank, and Standard Chartered Bank. Syndication saw Bank of Communications, Bank of East Asia, CTBC Bank, China Construction Bank, DBS, Siemens Bank, State Bank of India, and Tai Fung Bank join as mandated lead arrangers; while Bank of Kaohsiung, Bank of Taiwan, Chang Hwa Commercial Bank, Hitachi Capital, ICICI Bank, Kasikornbank, Land Bank of Taiwan, Maybank, Nanyang Commercial Bank (China), Shinhan Asia, Taiwan Business Bank, Taiwan Cooperative Bank, and Woori Bank join as arrangers. Proceeds are for general corporate purposes, including refinancing the Group’s existing financial indebtedness, funding its working capital requirements, and paying associated fees and expenses in connection with the facility.
Hong Kong loan volume stands at $34.4 billion in 2017 YTD, down 8% from $37.3 billion borrowed in the same period of 2016.
In Asia Pacific (ex-Japan), syndicated loan volume totals $323.4 billion so far this year, down 16% from $386.7 billion borrowed in 2016 YTD.
Thailand syndicated loan volume down 61% Y-o-Y in 2017
TOP SPP has secured a THB 9.9 billion facility. The loan is split into a THB 480 million bilateral loan, a THB 8.5 billion facility, and a THB 920 million facility. The two latter portions were concluded through joint mandated lead arrangers Bank of Ayudhya, Kasikornbank, Kiatnakin Bank, and Sumitomo Mitsui Banking Corp on a club basis. Proceeds are to support a project that entails the development of a Combined Cycle Gas Fire Power Plant and for working capital purposes.
Thailand syndicated loan volume totals $3.9 billion so far this year, down 61% from $10.1 billion borrowed in 2016 YTD.
Southeast Asia loan volume stands at $56.0 billion in 2017 YTD, down 10% from $62.6 billion borrowed in the same period of 2016.
