ICBC contributes $21.73 million AUD of the $86.9 million AUD term loan tranche of a $165.70 million AUD syndicated loan for the Docklands Stadium Public-Private Partnership Refinancing Project (Linked to Record ID#103095 and #103098)

Project narrative

On May 22, 2015, financial close was reached on a deal in which a syndicate of four banks – the Industrial and Commercial Bank of China (ICBC), Commonwealth Bank of Australia (CBA), Sumitomo Mitsui Banking Corporation (SMBC), and Westpac – entered into a $165.70 million AUD ($129.75 million USD) syndicated loan agreement with Melbourne Stadiums Limited – an Australia-incorporated, Australia-based special purpose vehicle (SPV). The proceeds of this loan were used to refinance sponsors’ extant debt in a Public-Private Partnership (PPP) Refinancing Project for the Docklands Stadium. The stadium was then-known as Etihad Stadium and has since been renamed Marvel Stadium. It is a multi-purpose stadium and is located in the Docklands precinct of Melbourne, Victoria, Australia. The loan was divided into four tranches: a $5 million AUD term loan tranche, a $15 million AUD, a $86.9 million AUD term loan tranche, and a $58.8 million AUD term loan tranche. Each tranche carries a maturity period of four years. ICBC contributed to three of the four Term Loan tranches. Record ID#103095 captures ICBC’s contribution to the $15 million AUD tranche. ICBC, SMBC, and Westpac each made $5 million AUD contributions. Record ID#103097 captures ICBC’s contribution to the $86.9 million AUD tranche. The contributions are as follows: CBA ($21.73 million AUD), ICBC ($21.72 million AUD), SMBC ($21.72 million AUD), and Westpac ($21.73 million AUD). Record ID#103098 captures ICBC’s contribution to the $58.8 million AUD tranche. ICBC, CBA, SMBC, and Westpac each contributed $14.7 million AUD to this tranche.