Transportation, property set pace on syndicated loan volume

Chongqing Expressway Group, Wanda Commercial Property (Hong Kong) and BW Gas Juju LNG feature in Dealogic's roundup of loans activity in Asia for January 6 to 12.

Transportation is the second largest sector for Asia Pacific (ex Japan) loan volume in 2016

  • Chongqing Expressway Group has signed a RMB 9.4 billion facility with sole mandated lead arranger Industrial & Commercial Bank of China. Syndication saw Agricultural Bank of China, China Construction Bank, and Chongqing Rural Commercial Bank join as participants. Proceeds are to support the construction of 128.125km Chengkou - Kaizhou highway in Chongqing municipality city, China.
  • Transportation is the second largest sector in China syndicated loan market with $28.6 billion signed in 2016, accounting for 17% of China’s total loan volume.
  • Transportation is also the second largest sector for Asia Pacific (ex Japan) loan volume in 2016. Volume has reached $60.2 billion via 107 deals, down 20% from the $75.7 billion borrowed in 2015 and accounts for 12% of Asia Pacific (ex Japan)’s total loan volume in 2016.

Real Estate sector led the Asia Pacific (ex Japan) syndicated loan volume in 2016

  • Wanda Commercial Property (Hong Kong) has signed a $488 million facility through sole bookrunner and mandated lead arranger Standard Chartered Bank. Syndication saw China Merchants Bank, Industrial Bank, and Postal Savings Bank of China join as mandated lead arrangers, while Bank Negara Indonesia, Bank of Jiangsu, Cathay United Bank, Chong Hing Bank, E.Sun Commercial Bank, and Far Eastern International Bank came in as arrangers. Proceeds are for general corporate purposes.
  • Real Estate sector leads the Hong Kong syndicated loan market with $12.9 billion borrowed in 2016, accounting for 29% of Hong Kong’s total loan volume.
  • Real Estate sector is also the largest sector for Asia Pacific (ex Japan) syndicated loan volume in 2016. Volume has reached $62.1 billion via 219 deals.

Singapore syndicated loan volume increases 21% YoY

  • BW Gas Juju LNG has signed a $685 million facility through joint mandated lead arrangers Clifford Capital, Danske Bank, DVB Bank, ING Bank, Korea Development Bank, SG Finance, and Standard Chartered Bank. Syndication saw BNP Paribas and Credit Industriel et Commercial join as arrangers. Proceeds are to refinance existing credit facilities for eight liquefied natural gas tankers on long-term charters to Nigeria LNG.
  • This is the second largest Transportation sector loan deal signed in Singapore in 2016, behind BW LPG’s $800 million facility in January 2016.
  • Singapore syndicated loan volume stands at $42.6 billion in 2016, up 21% from $35.1 billion borrowed in 2015.
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