ICBC (Singapore Branch) contributes to USD 1.25 billion syndicated credit facilities to Puma International Financing for unspecified corporate purposes

Project narrative

On May 11, 2015, a syndicate of 41 banks -- including ICBC's London and Singapore branches -- entered into a USD 1.25 billion syndicated credit facilities agreement with Puma International Financing S.A., the Luxembourgish indirect wholly-owned subsidiary of Singaporean company Puma Energy Holdings Pte. Ltd. Proceeds from the facility are to be used for unspecified corporate purposes. The facility is divided into two tranches: A USD 750 million three-year revolving credit facility, which carries an interest rate of LIBOR plus 245 basis points. This is further divided into "Facility B" and "Facility C", which are USD 390 million and USD 360 million, respectively. Other lending terms are unknown. A USD 500 million one-year term loan, which carries an interest rate of LIBOR plus 165 basis points. Other lending terms are unknown. A total of 41 banks participated in the facility, with the following banks serving as mandated lead arrangers and bookrunners: Australia and New Zealand Banking Group Limited, Arab Petroleum Investments Corporation (APICORP)— Foreign Branch, Emirates NBD Capital Limited, FirstRand Bank Limited (acting through its Rand Merchant Bank Division), Industrial and Commercial Bank of China Limited, London Branch, Industrial and Commercial Bank of China Limited, Singapore Branch, ING Bank N.V., Natixis, Nedbank Limited, London Branch, Societe Generale Corporate & Investment Banking, and The Standard Bank of South Africa.