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Overview

Bank of Communications contributes $80 million AUD to a $935 million AUD syndicated loan for the Axicom Refinancing Project

Commitments (Constant USD, 2023)$65,252,977
Commitment Year•2017Country of Activity•AustraliaDirect Recipient Country of Incorporation•AustraliaSector•CommunicationsFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Dec 14, 2017

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

  • China Bank of Communications (BoCom or BoComm)

Cofinancing agencies

Private Sector

  • Australia and New Zealand Banking Group (ANZ)
  • Bank of Nova Scotia (Scotiabank)
  • IFM Investors Pty Ltd
  • MUFG Bank, Ltd. (Formerly Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU))
  • National Australia Bank Limited (NAB)
  • Sumitomo Mitsui Banking Corporation (SMBC)
  • United Overseas Bank Limited (UOB)
  • Westpac Banking Corporation

Receiving agencies

Joint Venture/Special Purpose Vehicles

  • Axicom Pty Ltd

Loan description

Bank of Communications contributions to a $935 million AUD syndicated loan for the Axicom Refinancing Project

Interest type•Unknown

Narrative

Full Description

Project narrative

On December 14, 2017, financial close was reached on a deal in which a syndicate of nine banks — including the Bank of Communications (BoComm) — entered into a $935.00 million AUD ($716.68 million USD) syndicated term loan agreement with Axicom Pty Ltd — an Australian independent owner and operator of mobile infrastructure jointly owned by a consortium of Macquarie Infrastructure and Real Assets (MIRA), UniSuper, and UBS Infrastructure Asset Management — for the Axicom Refinancing Project. The proceeds were to be used by the borrower to refinance its existing debt. BoComm contributed $80.00 million AUD ($61.32 million USD) to the loan syndicate. In addition to BoComm, the following lenders contributed the respective amounts to the loan syndicate: Australia and New Zealand Banking Group (ANZ) ($80.00 million AUD), IFM Investors Pty Ltd ($100.00 million AUD; $76.65 million USD), MUFG Bank, Ltd. ($120.00 million AUD; $91.98 million USD), National Australia Bank Limited (NAB) ($110.00 million AUD; $84.32 million USD), the Bank of Nova Scotia (Scotiabank) ($120.00 million AUD; $91.98 million USD), Sumitomo Mitsui Banking Corporation (SMBC) ($110.00 million AUD; $84.32 million USD), United Overseas Bank Limited (UOB) ($100.00 million AUD; $76.65 million USD), and Westpac Banking Corporation ($115.00 million AUD; $88.15 million USD).