1. APAC Monthly Loan Market Stats
Thomson Reuters LPC
Contacts:
January 2018
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2. Table of Contents: TOPIC Page
Chart of the Month………………………………………………………………………………………………….….03
Global Loan Market...…………………………………………………………………………………………….……04
APAC ex. Japan Loan Market…………………………………………………………………… …………
APAC and Japan M&A Loan Market………………………………………………………………………..………..08
APAC Regional and Japan Loan Markets………………………………………………………………………
APAC Pipeline Loan Volume…………..…………………………………..…………………………………….…...12
APAC Secondary Loan Market ………….…………………………………………………………………………13-14
APAC Loan League Table: Mandated Arranger ……...…………………………………………………………
APAC Loan League Table: Bookrunner..…………………………………………………………………………

3. Chart of the Month: APAC 2017 loan volume slides 4.8% YOY
*Ex-Japan. Includes all international currency, Rmb and NT$ syndicated and club loans
Source: Thomson Reuters LPC 3

4. Global Market: Quarterly Loan Volume
For Asia Pacific and Japan: volume includes all international currency, Rmb and NT$ syndicated and club loans.
Global loan volume stood at US$87.7bn dollars at the end of January 2018
Americas, the largest contributor recorded US$49.1bn, followed by EMEA with US$30.0bn, Asia Pacific with US$5.7bn and Japan with US$3.0bn.
Sources: Thomson Reuters LPC

5. APAC Loan Market: Asia Pacific (ex-Japan) Monthly Loan Volume
All international currency, Rmb and NT$ syndicated and club loans (excluding Japan)
Asia Pacific (ex-Japan) loan market closed 15 deals with a volume of US$5.7bn in January 2018, a decline of US$14.2bn compared to the same time last year
Northeast Asia provided US$4.8bn towards the total. This is followed by South & Southeast Asia with US$0.4bn and Australasia with US$0.39bn,
Sources: Thomson Reuters LPC

6. Sources: Thomson Reuters LPC
APAC Loan Market: Asia Pacific (ex-Japan) Tenor Distribution in Percentage
All international currency, Rmb and NT$ syndicated and club loans (excluding Japan)
Loans with a five-year tenor has been the most popular year-to-date, making up 63.5% of total volume in APAC ex-Japan. This is followed by three-year loans at 19.7%.
The region has not recorded any loans with a tenor of 1 year
Sources: Thomson Reuters LPC

7. Sources: Thomson Reuters LPC
APAC Loan Market: Asia Pacific (ex-Japan) Refinancing and M&A Loan Volume
For Asia Pacific and Japan: volume includes all international currency, Rmb and NT$ syndicated and club loans.
Refinancing loans reached US$5.1bn and accounted 89% of total APAC (ex-Japan) volume by the end of January 2018
Other new money loans accounted for US$0.6bn or 11% of total volume over the same period
Sources: Thomson Reuters LPC

8. APAC Loan Market: Regional M&A Loan Distribution
For Asia Pacific and Japan: volume includes all international currency, Rmb and NT$ syndicated and club loans.
Asia Pacific and Japan has not logged M&A loan in the first month.
Sources: Thomson Reuters LPC

9. APAC Loan Market: Regional Loan Distribution Percentage
All international currency, Rmb and NT$ syndicated and club loans (excluding Japan)
Northeast Asia loan volume dominated the Asia Pacific region and contributed 85.5% to volume
South & Southeast Asia and Australasia accounted for 7.6%% and 6.9% of total activity in the APAC region
Sources: Thomson Reuters LPC

10. Source: Thomson Reuters LPC
APAC Regional Loan Market: Northeast Asia and Japan Quarterly Loan Volume
Northeast Asia Quarterly Loan Volume
Japan Quarterly Loan Volume
All international currency, Rmb and NT$ syndicated and club loans (excluding Japan).
All international currency, Rmb and NT$ syndicated and club loans syndicated in Japan
Northeast Asia:
Northeast Asia issued US$4.8bn via 13 deals at the end of Jan 2018, the lowest recorded volume since 2014
Japan:
Japan’s issuance stood at US$3.0bn via 44 deals, a 52% decline in volume compared to the previous year
Source: Thomson Reuters LPC

11. Source: Thomson Reuters LPC
APAC Regional Loan Market: Australasia, Southeast and South Asia Loan Volume
Australasia Quarterly Loan Volume
Southeast and South Asia Quarterly Loan Volume
All international currency, Rmb and NT$ syndicated and club loans (excluding Japan).
Australasia:
Issuances in Australasia accounted US$0.4bn via 1 deal at the end of Jan 2018
Southeast and South Asia:
South & Southeast Asia loan volume stood at US$0.43bn via 1 deal at the end of Jan 2018
Source: Thomson Reuters LPC

12. APAC Loan Market: Asia Pacific (ex-Japan) Loan Pipeline Volume
APAC ex-Japan loan pipeline stood at US$96bn at the end of January 2018.
Pipeline volume decreased by US$1.4bn compared to the same time last year.
Sources: Thomson Reuters LPC

13. APAC Secondary Loan Market: Advancers VS Decliners
Advancers outpaced Decliners in Asia in January, the advancers to decliners ratio of loan bids was 1.93
70 names in the region remain unchanged compared to the previous month
Sources: Thomson Reuters LPC

14. Source: Thomson Reuters LPC
APAC Secondary Loan Market: European Non-leveraged 30 VS Asia Pacific Non-leveraged
European Non-leveraged VS Asia Pacific Non-leveraged
European Leveraged 40 VS Asia Pacific Leveraged
Non-leveraged:
Average bids for non-leveraged European names was 97.6 of par in January 2018
Non-leveraged Asian averaged at 98.8 at the end of January 2018
Leveraged:
European leveraged names, on average, traded at of par in January 2018.
Bids for Asia leveraged credits traded at 95.0 of par in December, compared to 95.2 in December.
Source: Thomson Reuters LPC

15. APAC Loan League Table: 2018 YTD APAC (ex-Japan) Mandated Arranger
Rank
Change
Mandated Arranger
US$
Deals
Market Share 1 -
DBS Bank
504,077,971 5
8.91% 2
Bank of Taiwan
451,646,383
7.98% 3
AmBank
430,000,000
7.60% 4
Mega International Commercial Bank
386,424,724
6.83%
Bank of China
337,744,638
5.97% 6
Hang Seng Bank
278,317,796
4.91% 7=
China Construction Bank
252,744,638
4.46%
HSBC
Industrial & Commercial Bank of China 10
Bank of East Asia
229,237,439
4.05% 11
Mizuho Bank
225,190,106
3.98% 12
China Minsheng Banking Corp
163,237,439
2.88% 13
Taiwan Cooperative Bank
162,869,622
2.87% 14
Sumitomo Mitsui Banking Corp
154,840,532
2.73% 15
Hua Nan Commerical Bank
103,785,106
1.83%
16=
China Guangfa Bank
95,000,000
1.67%
Industrial Bank
Yuanta Commercial Bank
** All international currency, Rmb and NT$ syndicated and club loans (including Australasia, ex-Japan). Data compiled from January 1 to Januarty31, 2017
Source: Thomson Reuters LPC 15

16. APAC Loan League Table: 2018 YTD APAC (ex-Japan) Bookrunner
Rank
Change
Bookrunner
US$
Deals
Market Share 1 -
Bank of Taiwan
496,835,700 5
14.49% 2
Mega International Commercial Bank
485,105,000 4
14.15% 3
Deutsche Bank
340,000,000
9.92%
DBS Bank
252,000,000
7.35%
Cathay United Bank
180,000,000
5.25% 6=
Bank of China
179,014,398
5.22%
Hang Seng Bank
HSBC
OCBC Bank 10
Taiwan Cooperative Bank
160,086,777
4.67% 11
Mizuho Bank
140,699,147
4.10%
12=
Standard Chartered Bank
132,000,000
3.85%
Taipei Fubon Commercial Bank
14=
China Guangfa Bank
126,666,667
3.69%
Yuanta Commercial Bank 16
Taiwan Business Bank
84,516,565
2.46% 17
Chang Hwa Commercial Bank
54,090,602
1.57%
** All international currency, Rmb and NT$ syndicated and club loans (including Australasia, ex-Japan). Data compiled from January 1 to January 31, 2017
Source: Thomson Reuters LPC 16