Taiwan loan volumes soar; major telecoms deal

Trans Media Corpora, Televisi Transformasi Indonesia, Cheng Loong Corp and Wingate Overseas Holdings feature in Dealogic's roundup of loans activity in Asia for May 4 to 10.

The second largest Telecommunication sector loan signed in Asia Pacific (ex JP) in 2018 YTD

  • Trans Media Corpora and Televisi Transformasi Indonesia have signed a $302 million facility through joint bookrunners and mandated lead arrangers BNP Paribas, CIMB Bank, Deutsche Bank, Maybank Kim Eng Securities, and Standard Chartered Bank. Syndication saw CTBC Bank, Chang Hwa Commercial Bank, EnTie Commercial Bank, Far Eastern International Bank, First Commercial Bank, Hua Nan Commercial Bank, Land Bank of Taiwan, and Shinhan Bank join as arrangers. Proceeds are to repay existing debt and for general corporate purposes.
  • This is the second largest Telecommunication sector deal signed in Asia Pacific (ex Japan) so far this year, after Solusi Tunas Pratama’s $577 million facility signed in March 2018.
  • In Asia Pacific (ex Japan), Telecommunication sector loan volume stands at $1.1 billion in 2018 YTD, down 84% from $6.9 billion borrowed in the same period of 2017.

Taiwan syndicated loan volume almost doubled to $9.9 billion in 2018 YTD

  • Cheng Loong Corp has closed a NT$7.2 billion facility through joint bookrunners and mandated lead arrangers First Commercial Bank, Hua Nan Commercial Bank, and Taipei Fubon Commercial Bank. Syndication saw Agricultural Bank of Taiwan, Chang Hwa Commercial Bank, E Sun Commercial Bank, Far Eastern International Bank, KGI Bank, Land Bank of Taiwan, O-Bank, Taishin International Bank, Taiwan Cooperative Bank, and Yuanta Commercial Bank join as mandated lead arrangers. Proceeds are to refinance the NT$60 million facility signed in September 2014 and for working capital purposes.
  • This is the first Forestry & Paper sector deal signed in Taiwan so far this year.
  • Taiwan syndicated loan volume almost doubled to $9.9 billion in 2018 YTD from $5.0 billion in 2017 YTD, marking the second highest YTD level since 2012.

The second largest Food & Beverage loan signed in Asia Pacific (ex Japan) in 2018 YTD

  • Wingate Overseas Holdings has signed a $360 million facility through joint bookrunners and mandated lead arrangers BNP Paribas, Bank of China, Citibank, HSBC, Mizuho Bank, and OCBC. Syndication saw OCBC Wing Hang Bank join as participant. Proceeds are to refinance the bonds and for general corporate purposes.
  • This is the first Food & Beverage sector deal signed in Taiwan so far this year. This is second largest Food & Beverage sector deal signed in Asia-Pacific (ex Japan), after Olam International’s $500 million facility signed in March 2018.
  • In Asia-Pacific (ex JP), Food & Beverage sector loan volume stands at $1.6 billion in 2018 YTD, down 41% from the $2.7 billion borrowed in 2017 YTD.
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