Overview

Bank of China contributes $30 million AUD to a $235 million AUD syndicated loan to Senex Energy for refinancing purposes

Commitments (Constant USD, 2023)$19,930,165

Commitment Year•2023Country of Activity•AustraliaDirect Recipient Country of Incorporation•AustraliaSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jul 28, 2023

Last repayment (originally scheduled): Jul 28, 2026

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Commercial Banks

Bank of China (BOC)

Cofinancing agencies

Private Sector

Australia and New Zealand Banking Group (ANZ)
Deutsche Bank AG
MUFG Bank, Ltd. (Formerly Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU))
Sumitomo Mitsui Banking Corporation (SMBC)

Receiving agencies

Private Sector

Senex Energy Pty Ltd

Loan description

Bank of China contributions to a $235 million AUD syndicated loan to Senex Energy for refinancing purposes

Interest type•UnknownMaturity•3 years

Narrative

Full Description

Project narrative

On July 28, 2023, a syndicate of five lenders — including the Bank of China (BOC) — entered into a $235.00 million AUD ($156.31 million USD) syndicated loan agreement with Senex Energy Pty Ltd — an Australian oil and gas exploration and production company privately owned by South Korean trading company POSCO International Corporation and Australian mining and agricultural firm Hancock Prospecting Pty Ltd. — for refinancing purposes. This loan carried a maturity period of three years and a final maturity date of July 28, 2026. The proceeds were to be used by the borrower to refinance a loan accrued in 2018 that supported Senex's gas exploration and production in Queensland's Surat Basin. BOC contributed $30.00 million AUD ($19.96 million USD) to the loan syndicate. In addition to BOC, the following lenders contributed the respective amounts to the loan syndicate: Australia and New Zealand Banking Group (ANZ) ($77.00 million AUD; $51.22 million USD), Deutsche Bank ($56.50 million AUD; $37.58 million USD), MUFG Bank, Ltd. ($15.00 million AUD; $9.98 million USD), and Sumitomo Mitsui Banking Corporation (SMBC) ($56.50 million AUD).