Bank of China contributes to a $1 billion AUD syndicated loan to Australian Unity Healthcare Property Trust for refinancing and working capital purposes (Linked to Record ID#101353)

Project narrative

In December 2021, a syndicate of at seven banks — including the Bank of China (BOC) — entered into a $1,000,000,000 AUD syndicated loan agreement with Australian Unity Healthcare Property Trust (AUHPT) — an Australia-incorporated healthcare property trust managed by Australian mutual company Australian Unity Limited — for refinancing and working capital purposes. This loan was senior and unsecured. This loan was divided into five tranches: a $250,000,000 AUD facility tranche (Tranche A) with a maturity period of 1.5 years and a final maturity date of June 2023; a $150,000,000 AUD facility tranche (Tranche B) with a maturity period of three years and a final maturity date of January 2025; a $250,000,000 AUD facility tranche (Tranche C) with a maturity period of four years and a final maturity date of December 2025; a $250,000,00 AUD facility tranche (Tranche D) with a maturity period of five years and a final maturity date of December 2026; and a $100,000,000 AUD term facility tranche with a maturity period of three years and a final maturity date of January 2025. The proceeds were to be used by the borrower for refinancing purposes, specifically repaying all existing drawn down under an existing $850 million AUD facility, and to support the borrower's pipeline of healthcare and social infrastructure acquisitions and developments. Record ID#101350 captures BOC's contribution. In addition to BOC, the following banks are known to have contributed to the loan syndicate: Australia and New Zealand Banking Group (ANZ), National Australia Bank Limited (NAB), Commonwealth Bank of Australia (CBA), Mizuho Bank, and HSBC Bank. In November 2022, a syndicate of seven banks — including BOC — entered into a $1,300,000,000 AUD syndicated loan agreement with AUHPT for refinancing and working capital purposes. This senior unsecured loan was non-recourse to unitholders and was divided into eight tranches: Tranches B, C, and D, and the Term Facility Tranche from the original loan and four new tranches. The new tranches were: a $250,000,000 AUD facility tranche (Tranche A1) with a maturity period of 1.5 years and a final maturity date of May 2024; a $75,000,000 AUD facility tranche (Tranche B1) with a maturity period of three years and a final maturity date of November 2025; a $75,000,000 AUD facility tranche (Tranche C1) with a maturity period of four tranches and a final maturity date of November 2026; and a $150,000,000 AUD facility tranche (Tranche D1) with a maturity period of five years and a final maturity date of November 2027. The new tranches had a total debt of $550 million AUD. The proceeds of $250 million AUD Tranche A1 were used by the borrower to refinance the existing $250 million AUD Tranche A, while Tranche B1, C1, and D1 were entirely new, for a net gain of $300 million AUD in debt capacity; the loan remained for working capital purposes, namely supporting the borrower's expansion and development pipeline. Record ID#101353 captures BOC's contribution.