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Overview

Bank of China contributes to $90 million syndicated loan for Petron Corp

Commitments (Constant USD, 2023)$10,681,486
Commitment Year•2007Country of Activity•PhilippinesDirect Recipient Country of Incorporation•PhilippinesSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Mar 1, 2007

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

Intergovernmental Organizations

  • Arab Petroleum Investments Corporation (APICORP)

Private Sector

  • BNP Paribas S.A.
  • Cathay United Bank
  • Citigroup Inc.
  • CTBC Bank (formerly Chinatrust Commercial Bank)
  • DZ Bank AG
  • ING Bank A.Ş
  • Mega International Commercial Bank Co., Ltd. (formerly International Commercial Bank of China)
  • Mizuho Bank, Ltd.
  • The Bank of Tokyo-Mitsubishi, Ltd. (BTM)
  • The Saudi Investment Bank (SAIB)

State-owned Banks

  • Norddeutsche Landesbank Girozentrale (NORD/LB)
  • Samba Financial Group

Receiving agencies

Private Sector

  • Petron Corporation

Loan description

Bank of China contributes to $90 million syndicated loan for refinancing purposes in 2007

Interest type•Unknown

Narrative

Full Description

Project narrative

In March 2007, Petron Corp signed a $90 million syndicated loan for refinancing purposes. The mandated lead arrangers of the loan were Citigroup, ING, Samba Financial and DZ Bank. Arrangers included the Bank of Tokyo-Mitsubishi, Mizuho and Saudi Investment Bank. Participants were the Arab Petroleum Investment Corp and the Bank of China. Bank of Tokyo-Mitsubishi, BNP Paribas, Chinatrust Commercial Bank, Cathay United Bank, Citigroup, DZ Bank, ING, Mega International Commercial Bank, Mizuho, NordLB, Samba Financial Group and Saudi Investment Bank.

Staff comments

1. Aiddata estimates the transaction amount assuming that each financer contributed equally.