Bank of China contributes $58.5 million SGD to $600 million SGD syndicated loan to Venture Manufacturing for debt refinancing and working capital purposes

Project narrative

On August 29, 2007, a syndicate of 11 banks — including the Bank of China (BOC) — signed a $600 million SGD syndicated lending facility agreement with Singapore-based Venture Manufacturing. Proceeds from the facility were to be used to refinance existing debt and for working capital purposes. The facility carried an average maturity of 2.2 years, with a margin of 28 basis points over SOR. Other lending details, including the possibility of multiple tranches, are unknown. Citi and DBS Bank served as bookrunners, contributing SGD 60 million each. Bank of China, Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, OCBC, RBS, and SMBC contributed SGD 58.5 million each. Mizuho Corporate Bank contributes SGD 51 million, while BBVA and Intesa Sanpaolo contributed SGD 39 million each.