Bank of China contributes $750,000 AUD to the $3 million AUD term loan tranche of a $262 million AUD syndicated loan for the University of Melbourne Student Accommodation 2022 Refinancing Project (Linked to Record ID#101592)

Project narrative

On November 9, 2022, financial close was reached on a deal in which a syndicate of four banks — including the Bank of China (BOC), Commonwealth Bank of Australia (CBA), Sumitomo Mitsui Banking Corporation (SMBC), and Woori Bank — entered into a $262.00 million AUD ($170.32 million USD) syndicated loan agreement with Student Accommodation Finance Company Pty Limited — an Australia-incorporated special purpose vehicle (SPV) wholly owned by the University of Melbourne — for the University of Melbourne Student Accommodation 2022 Refinancing Project. This loan was divided into two tranches: a $3.00 million AUD ($1.95 million USD) term loan tranche with a maturity period of one year and a final maturity date of November 9, 2023; and a $259.00 million AUD ($168.37 million USD) term loan tranche with a maturity period of one year with a final maturity date of November 9, 2023. Each lender contributed $750,000 AUD ($0.49 million USD) to the $3 million AUD term loan tranche and $64.75 million AUD ($42.09 million USD) to the $259 million AUD term loan tranche. Record ID#101591 captures BOC's contribution to the $3 million AUD term loan tranche. Record ID#101592 captures BOC's contribution to the $259 million AUD term loan tranche.