ICBC contributes to $300 million NZD syndicated loan to the University of Auckland for unspecified purposes

Project narrative

In 2019, a group of six banks — the Industrial and Commercial Bank of China (ICBC), Bank of New Zealand, ANZ Bank, Commonwealth Bank of Australia, HSBC, and Bank of Tokyo-Mitsubishi UFJ — entered into a $300 million NZD multi-tranche syndicated lending facility with the University of Auckland — a New Zealand public university — for unspecified purposes. The facility was comprised of nine tranches, with maturities ranging from two to five years and interest rates ranging from 1.65% to 1.96%. All loans were borrowings are unsecured. Other lending details are unknown. The purpose of the borrowing is unknown.