SEA syndicated loan up 25% in Q1
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Syndicated loan volume in Southeast Asia grew 25 per cent to US$14.97 billion in the first quarter of 2013, compared to $11.97 billion in the same period last year, according to Thomson Reuters' survey.
The loan volume grew on the back of 25 deals. In the period, Chaoroen Pokphand Group paid the last batch of its $9.4 billion purchase for Ping An Insurance while liquor tycoon Charoen Sirivadhanabhakdi also completed the acquisition of Fraser & Neave.
According to Thomson Reuters, throughout Asia Pacific (excluding Japan) the volume reached $59.83 billion via 160 deals, a drop of 3.8 percent from the $62.21 billion via 231 deals completed a year ago.
Emerging markets China and India registered lower volumes. Chinese loan volume fell nearly 11 percent to US$13.32 billion compared to the US$14.93 billion worth of loans recorded in the first quarter 2012. While India’s volumes were cut by half to US$2.54 billion via 15 deals, compared to the US$5.2 billion done in 1Q 2012. M&A loans hit US$15.76 billion, accounting for a healthy 26 percent of overall volume on the back of jumbo transactions for Thai Charoen Corp Group’s takeover of Fraser & Neave Ltd in Singapore and Chinese oil and gas major CNOOC Ltd’s acquisition of Canada’s Nexen Inc. Refinancing activity accounted for about 31 percent of overall loan volume (ex-Japan).
DBS Bank topped the first-quarter 2013 mandated arranger league table for Asia Pacific (ex-Japan), followed by UOB and China Development Bank.
