Bank of China contributes $13.16 million USD to $250 million USD denominated term loan tranche of $726 million USD-equivalent syndicated loan to Arrium Limited for refinancing purposes (Linked to Record ID#103738, ID#103739, ID#103740, ID#103742, ID#103743)

Project narrative

On June 1, 2014, a syndicate of 19 lenders — including Industrial and Commercial Bank of China (ICBC) and Bank of China (BOC) — entered into a $726 million USD-equivalent multi currency facility to Arrium — an Australian mining company — for refinancing purposes. The loan is comprised of a $255 million AUD ($237.33 million USD) term loan tranche with a maturity of four years, $250 million USD ($268.56 million AUD) term loan tranche with a maturity of four years, and $260 million CAD ($257.37 million AUD ($239.59 million USD)) term loan tranche with a maturity of five years. The syndicate included: Australia and New Zealand Banking Group, BOC, BBVA, BNP Paribas, Chang Hwa Commercial Bank, Commonwealth Bank of Australia, CTBC Bank, Deutsche Bank, First Commercial Bank, HSBC, ICBC, Mizuho Financial Group, MUFG Bank, National Australia Bank, Scotiabank, Sumitomo Mitsui Banking Corporation, Taiwan Business Bank, United Overseas Bank, and Westpac. Record ID#103738 captures ICBC's share and Record ID#103739 captures BOC's contribution to the $260 million CAD term loan tranche. Each lender contributed $13.55 million AUD ($12.61 million USD) to this tranche. Record ID#103740 captures ICBC's share and Record ID#103741 captures BOC's contribution to the $250 million USD term loan tranche. The 19 lenders remained the same and each lender contributed $13.16 million USD ($14.13 million AUD) to this tranche. Record ID#103742 captures ICBC's contribution and Record ID#103743 captures BOC's contribution $255 million AUD denominated term loan tranche. The 19 lenders remained the same and each lender contributed $13.42 million AUD ($13.16 million USD) to this tranche.