The average number of lenders per syndicated loan (excluding clubs) in Asia-Pacific (ex-Japan) so far in 2021 has increased from the same period last year, in tandem with a rise in average deal sizes.
The average number of lenders has expanded to 8.9 in the year to date (YTD) from 7.7 in the same period last year, while the average deal size is up to USD 447m from USD 417m.
The number of highly participated syndicated loan deals has also increased in 2021. There were 21 syndicated deals closed YTD with 20 or more lenders, compared with 14 completed in the same period last year with this number of debt providers.
Vietnamese syndicated loans are the most highly participated deals on average completed in the region so far this year, despite their relatively small size.
The average number of lenders involved in Vietnamese syndicated loan deals currently stands at 12.5, with an average deal size of USD 118m. Singaporean deals are the second most participated at 10.6, with Hong Kong third at 9.9, although average deal sizes have been much larger at USD 547m and USD 523m, respectively.
Among the top-five syndicated loans by number of lenders in the region during 2021 YTD, two are from Vietnamese names: privately-owned Vietnam Technological & Commercial Joint Stock Bank’s (Techcombank) upsized USD 800m three- and five-year loans, which attracted 28 lenders, and conglomerate Masan Group’s USD 350m three-year loan, which closed with 27 lenders.
The most highly-participated syndicated loan so far this year was Hong Kong-listed BOCOM International Holdings’ HKD 5bn-equivalent (USD 642m) three-year loan, which closed with 40 banks.
