IFR Asia – January 20, 2018

(Axel Boer) #1
ASIA DATA

ASIAN SYNDICATED LOAN PIPELINE UPDATES WEEK OF 15 JANUARY
Company Currency Size (m) Margin (All-in) Tenor (mths) Facility Arrangers
Australia
RPFC Bidco A$ 375 84 Term Loan China Merchants Bank
A$ 25 84 Revolver/Line >= 1 Yr. China Merchants Bank
China
International Far Eastern Leasing Rmb 1,200 498.75 (536) 36 Term Loan OCBC, Korea Development Bank, SMFG,
First Financial Holding
Hong Kong
CNAC Century (HK) US$ 3,850 153 (181) 36 Term Loan Barclays, Natixis, BTMU, SG, UniCredit
US$ 1,650 195 (215) 60 Term Loan SG, Ind Bk of China, BAML, BNP, Rabo
Everwell City HK$ 13,800 185 (200) 36 Term Loan SCB, UOB, ANZ
India
Adani Developers Rs 2,450 120 Term Loan IndusInd
Birla Corp Rs 2,000 120 Term Loan IndusInd
Okaya Energy Systems Rs 4,100 168 Term Loan IndusInd
Sarguja Rail Corridor Rs 11,890 216 Term Loan IndusInd, Bank of Baroda
Tata Sons US$ 1,000 60 Revolver/Term Loan
Yes Bank US$ 300 80 (105) 36 Term Loan Westpac Banking Corp, SCB, HSBC
Zuari Sugar and Power Rs 1,000 51 Term Loan IndusInd
Indonesia
Telekomunikasi Indonesia Tbk € 500 12 Term Loan
€ 500 36 Term Loan
Trans Media Corpora (Transmedia) US$ 265 325 (357) Term Loan CIMB, SCB, Malayan Banking, DB, BNP
€ 30 Term Loan SCB, Malayan Banking, CIMB, DB, BNP
Malaysia
STC Malaysia Holdings M$ 1,510 Murabaha
Singapore
OUE Hospitality Trust S$ 980 Revolver/Term Loan BNP, DBS, OCBC, SCB
Source: Thomson Reuters LPC


LAST WEEK’S ECM DEALS
Stock Country Date Amount Price Deal type Bookrunner(s)
China Jinmao China 12/01/18 HK$3.33bn HK$3.70 Follow-on (Primary) Goldman Sachs, HSBC
China Hongqiao Group China 15/01/18 HK$6.24bn HK$9.60 Follow-on (Primary) CLSA, CMB International, UBS
Country Garden Holdings China 16/01/18 HK$7.88bn HK$17.13 Follow-on (Primary) Goldman Sachs
Future Land Development Holdings China 17/01/18 HK$1.56bn HK$5.86 Follow-on (Primary) Deutsche Bank, Citigroup
BeiGene China 17/01/18 US$750m US$101 Follow-on (Primary) Goldman Sachs, Morgan Stanley, Cowen, Leerink Swann
Kakao South Korea 17/01/18 US$1bn US$121.04 IPO (Primary) Citigroup, Goldman Sachs
Shanghai Pharmaceuticals China 18/01/18 HK$3.13bn HK$20.43 Follow-on (Primary) Morgan Stanley, Haitong International, China Merchants Sec
Microport Scientific China 18/01/18 HK$386m HK$8.40 Follow-on (Secondary) JP Morgan
Source: IFR Asia


MERRILL LYNCH ASIAN DOLLAR INDEX
Index Description Index level 1 week total return 1 month total return 3 months total return OAS
ADIG Asian-dollar high-grade index 389.983 –0.124 –0.351 –0.397 111
ADHY Asian-dollar high-yield index 618.582 0.134 0.930 1.067 355
AGIG Asian-dollar government high-grade index 364.356 –0.096 –0.154 –0.150 96
AGHY Asian-dollar government high-yield index 736.912 0.136 1.064 1.153 253
ACIG Asian-dollar corporate high-grade index 414.919 –0.137 –0.430 –0.494 117
ACHY Asian-dollar corporate high-yield index 507.327 0.133 0.903 1.049 377
Source: Merrill Lynch


LAST WEEK’S EQUITY-LINKED ISSUANCE
Issuer Country Date Amount Greenshoe Maturity Coupon (%) Premium (%) Bookrunner
Country Garden Holdings China 16/01/17 HK$15.6bn 2019 0 20 Goldman Sachs
Khazanah Nasional – Citic Securities China 17/01/17 US$320.8m 2023 0 40 CIMB, JP Morgan
Canopus International – Indorama Ventures Thailand 18/01/17 US$200m 2019 0 17.5 Morgan Stanley
Source: IFR Asia

Free download pdf