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Overview

Bank of China contributes SGD 34 million to syndicated club loan for Alkas Realty to purchase DBS Towers 1 and 2 in Singapore

Commitments (Constant USD, 2023)$40,154,810
Commitment Year•2006Country of Activity•SingaporeDirect Recipient Country of Incorporation•SingaporeOverseas Jurisdiction•SingaporeSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Mar 18, 2006
Last repayment (originally scheduled)
Mar 17, 2011

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

  • Bank of East Asia Limited (BEA)
  • Bank of Nova Scotia Asia Limited (BNS Asia Limited)
  • Crédit Agricole Corporate and Investment Bank (CACIB) (Crédit Agricole CIB) (Formerly Calyon) (Formerly Crédit Agricole Indosuez (CAI))
  • Credit Industriel et Commercial (CIC)
  • Hua Nan Commercial Bank, Ltd. (HNCB)
  • ING Real Estate Finance
  • International Commercial Bank of China
  • Maybank International (L) Limited
  • Oversea-Chinese Banking Corporation, Limited (OCBC Bank)
  • Standard Chartered Bank PLC
  • United Overseas Bank Limited (UOB)

State-owned Banks

  • Norddeutsche Landesbank Girozentrale (NORD/LB)

Receiving agencies

Private Sector

  • Alkas Realty Pte Ltd

Loan description

Bank of China contributions to SGD 548 million 2006 syndicated club loan for Alkas Realty to purchase DBS Towers 1 and 2 in Singapore

Interest type•UnknownMaturity•5 years

Narrative

Full Description

Project narrative

On March 18, 2006 a group of banks — including the Bank of China (BOC) Singapore branch— reached financial close on a SGD 548 million syndicated club loan with Alkas Realty Pte Ltd, a Singapore-based property development firm. Proceeds from this facility were used to purchase DBS Towers 1 and 2 in Singapore. The loan carried a maturity of five years. Mandated lead arrangers United Overseas Bank and Standard Chartered Bank committed SGD 130 and SGD 55 million, respectively. ING Real Estate Finance and NordLB (Singapore) served as lead arrangers, committing SGD 50 million each. Maybank (Singapore) committed SGD 48 million, Bank of Nova Scotia Asia committed SGD 41 million and Bank of China (Singapore), Calyon (Singapore) and Oversea-Chinese Banking Corp each committed SGD $34 million. Credit Industriel et Commercial (Singapore) committed SGD 27 million and Hua Nan Commercial Bank committed SGD 20 million as arrangers. The Bank of East Asia (Singapore) and the International Commercial Bank of China (Singapore) served as senior managers and committed SGD 15 million and SGD 10 million, respectively.