Narrative
Full Description
Project narrative
In or around September 2022, a syndicate of 22 lenders — including the Agricultural Bank of China (ABC) — entered into a $150 million USD syndicated loan agreement with Busan Bank (formerly Pusan Bank) for social and sustainable financing purposes. The facility carried a maturity period of five years and a variable interest rate of 105 basis points over a three-month SOFR rate. ABC contributed $30 million USD to the $150 million USD facility. In addition to ABC, the following lenders played these roles and contributed the following amounts: Mizuho Bank (sole mandated lead arranger and bookrunner, $10 million USD); Taipei Fubon Commercial Bank (lead arranger, $18 million USD); Bank of Taiwan (lead arranger, $16 million USD); Chang Hwa Commercial Bank (lead arranger, $16 million USD; CTBC Bank (lead arranger, $16 million USD); Land Bank of Taiwan (lead arranger, $16 million USD); Mega International Commercial Bank (lead arranger, $16 million USD); National Bank of Kuwait (lead arranger, $16 million USD); Shanghai Commercial & Savings Bank (lead arranger, $16 million USD); Taichung Commercial Bank (lead arranger, $16 million USD); Taiwan Business Bank (lead arranger, $16 million USD); Hua Nan Commercial Bank (Hong Kong Branch) ($8 million USD); Hua Nan Commercial Bank (offshore banking) ($8 million USD); Export-Import Bank of the Republic of China (arranger, $14 million); Bank of Kaohsiung (arranger, $12 million USD); Sunny Bank (arranger, $12 million USD); Taishin International Bank (arranger, $12 million USD); Taiwan Cooperative Bank (arranger, $12 million USD); Yuanta Commercial Bank (arranger, $10 million USD); Bank Negara Indonesia (arranger, $6 million USD); and Industrial Bank of Korea (arranger, $4 million USD). Busan Bank will use the proceeds of the loan to finance assets which support sustainability goals, including those related to the United Nations' sustainable development goals (SDGs).