Bank of China participates in ZMW 60 billion syndicated revolving credit facility to ZamBrew for general corporate purposes, to refinance certain existing bank facilities, and to support its capital expenditures program (Linked to Record ID#105853)

Project narrative

In June 2010, Zambian Breweries PLC (ZamBrew) — a Zambia-incorporated special purpose vehicle that is majority-owned by SABMiller plc (86.5% equity stake) — signed a ZMW 400 billion loan agreement with a syndicate of banks for general corporate purposes, to refinance certain existing bank facilities, and to support its capital expenditures program. Absa Capital (Barclays Capital), Citi and Standard Chartered served as joint bookrunners and mandated lead arrangers. Access Bank Zambia, African Life Financial Services, Bank of China, First National Bank Zambia, Investrust Bank, Standard Bank and Zambia National Commercial Bank joined in syndication. The loan was increased from ZMW 300 billion during syndication. The loan carried a maturity period of three years and consisted of two facilities: a ZMW 340 billion syndicated bullet term loan (captured by Record ID#105853) and a ZMW 60 billion syndicated revolving credit facility (captured by Record ID#105854). It was backed by a repayment guarantee from SABMiller plc (an Anglo-South African multinational brewing and beverage company headquartered in Woking, England).