China Bank of Communications contributes $8 million SGD to $400 million SGD syndicated loan to CDL Properties for refinancing purposes (Linked to Record ID#104993, #104994 and #104992)

Project narrative

On January 18, 2006, financial close was reached on a deal in which a syndicate of 11 banks — including Bank of China (Record ID#104992), Agricultural Bank of China (Record ID#104993), Industrial & Commercial Bank of China (Record ID#104994), and Bank of Communications (Record ID#104995)— entered into a $400 million SGD syndicated loan agreement with CDL Properties, a Singapore-based real estate company. The loan's initial size of $300 million SGD was increased due to strong syndication interest. The maturity of the loan is five years. The proceeds were used to refinance a $450 million SGD facility signed in January 2001. Bank of China contributed $40 million SGD, Agricultural Bank of China contributed $18 million SGD, Industrial & Commercial Bank of China contributed $10 million SGD, and Bank of Communications contributed $8 million SGD. DBS contributed $40 million SGD, HSBC contributed $20 million SGD, and Norddeutsche Landesbank contributed $48 million SGD. Bank of Nova Scotia Asia, Bank of Tokyo-Mitsubishi, and Mizuho Corporate Bank each contributed $40 million SGD. Calyon and Credit Industriel & Commercial contributed $35 million SGD, while Royal Bank of Scotland contributed $26 million SGD.