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APAC Chart of the Week: Chinese financial-leasing firms’ club/syndicated borrowing volumes fall 74% YoY in 1H20 to lowest since 1H16

APAC Chart of the Week: 28th July 2020

The volume of syndicated and club loans borrowed by Chinese financial-leasing companies has plunged 74.2% YoY in 1H20 amid the COVID-19 crisis, marking the lowest level since 1H16.

The number of such borrowings from the sector tumbled to USD 1.12bn in 1H20 from USD 4.34bn in the same period last year, while the number of deals more than halved to six from 14.

Borrowings by leasing companies affiliated to banks accounted for 48.7% of the total 1H20 volumes, while the rest was from independent leasing houses. In 1H19, 50.3% was from bank-backed leasing entities, 38% from independent firms, and 11.7% from securities houses’leasing arms.

At least two loan deals from Chinese leasing companies are currently in the market, according to Debtwire. Ping An International Financial Leasing recently launched a USD 340m three-year loan for its HongKong subsidiary Ping An Leasing Hong Kong, while a USD200m three-year loan for conglomerate Legend Holdings’ subsidiary JC International Finance & Leasing is in syndication since 14 May.

Jason Huang-Jones APAC Data Manager Debtwire
Jason Huang-Jones APAC Data Manager Debtwire

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