APAC Chart of the Week: 24th September
Taiwan-listed financial-services provider Chailease Holdings Co Ltd and its subsidiaries/affiliates are continuing their borrowing spree, having closed USD 2.01bn-equivalent syndicated loans via eight deals so far this year.
Although that volume is 11.6% lower than the USD 2.27bn-equivalent syndicated borrowings across 13 deals closed in entire 2019, the company’s Thailand and Cambodian subsidiaries are currently looking to sign new loans.
An up-to-USD 100m three-year term loan for Thailand subsidiary Asia Sermkij Leasing PCL is in limited syndication, while its Cambodian units Chailease Royal Leasing Plc and Chailease Royal Finance Plc are in talks with relationship banks for a USD loan, Debtwire reported on September 18.
Last week, Vietnamese entity Chailease International Leasing Co Ltd closed a USD 60m three-year term loan, while in mid-August, Singapore-based Chailease International Financial Services (Singapore) Pte Ltd completed a USD 140m three-year loan.
Chailease-linked companies in China accounted for 70% of the total syndicated loan volumes in 2020 to date, while Taiwan-based entities contributed 20% and Singapore/Vietnam the remaining 10%. In 2019, China took a 42% share, Taiwan 49% and US/Malaysia the remaining 9%.
Chailease Holding provides financial services to SMEs, including leasing, installment sales, factoring and direct financing. It has operations in Taiwan, the PRC, Thailand, Vietnam, Malaysia, Cambodia, the Philippines and USA.
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