Narrative
Full Description
Project narrative
On January 22, 2018, Hengyuan Refining Company Berhad (HRC) signed bilateral agreements with China Construction Bank, AmBank Berhad, and MayBank International for a USD 430 million syndicated financing package. The agreement included a term loan and a revolving credit facility. The term loan had a 5-year maturity and required principal repayments every 6–12 months until February 2023. The interest rate was LIBOR + 1.6% per annum. China Construction Bank’s contribution to the syndicated loan is not publicly disclosed; AidData assumes an equal share of USD 71.67 million. The loan was used to refinance an existing facility and partially finance HRC’s capital expenditure.
Staff comments
1. China Construction Bank's contribution to the syndicate is unknown. For the time being, AidData assumes an equal contribution of USD 71,666,666. 2. Actual implementation start and completion dates have been estimated based on loan signature and final maturity, as disclosed in recipient filings.