Overview

Bank of China contributes to a $330 million USD syndicated revolving credit facility to Lend Lease Retail Investments for refinancing purposes

Commitments (Constant USD, 2023)$85,302,632

Commitment Year•2013Country of Activity•SingaporeDirect Recipient Country of Incorporation•SingaporeSector•Business And Other ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Aug 1, 2013

Last repayment (originally scheduled): Jul 31, 2018

Stakeholders

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

Funding agencies

State-owned Commercial Banks

Bank of China (BOC)

Cofinancing agencies

Private Sector

DBS Bank Ltd.
Oversea-Chinese Banking Corporation, Limited (OCBC Bank)
Sumitomo Mitsui Banking Corporation (SMBC)

Receiving agencies

Private Sector

Lend Lease Retail Investments 1 Pte. Ltd.

Loan description

Bank of China contributions to USD 330 million 2013 syndicated revolving credit facility for refinancing purposes

Interest type•UnknownMaturity•5 years

Narrative

Full Description

Project narrative

In August 2013, financial close was reached on a deal in which a syndicate of four banks — including the Bank of China (BOC) — entered into a $330 million USD syndicated revolving credit facility (RCF) agreement with Lend Lease Retail Investments 1 Pte. Ltd. — a Singapore-incorporated real estate company — for refinancing purposes. This RCF carried a maturity of five years. The proceeds were to be used by the borrower to repay existing indebtedness. DBS Bank and Oversea-Chinese Banking Corporation, Limited (OCBC Bank) acted as mandated lead arrangers. BOC and Sumitomo Mitsui Banking Corporation Group (SMBC) joined as participants.

Staff comments

1. The individual contributions of the four lenders to this $330 million USD syndicated RCF are unknown. For the time being, to estimate BOC's contribution AidData has assume that all four members of the lending syndicate contributed equally ($82,500,000 USD) to the syndicate.