ICBC contributes to a $210 million syndicated loan for Seaspan Corporation to refinance its vessels (Linked to Project ID#63498)

On January 28, 2013, the Industrial and Commercial Bank of China contributed up to $210,000,000 USD as leading bank in a syndicated loan facility for Seaspan Corporation — a company that is incorporated under the laws of the Republic of the Marshall Islands. The participating banks, as well as ICBC's specific commitment, are unknown. The facility bears interest at LIBOR plus a margin, and Seaspan Corporation is subject to a commitment fee of 0.4% per annum calculated on the undrawn amount of the loan. The loan will be used for refinancing of existing vessels {{see pg.48 of Source ID#89043). In January 2014, the company drew down the $340 million of existing facilities to fund the reduction in the outstanding amount of another credit facility of $1.0 billion of Seaspan Corporation.

Additional details

1. This loan is linked to Project ID#63498, an ICBC-backed, $130 million syndicated loan that was signed on the same day and that is referred to in conjunction with this loan as a '$340M facility.’ 2. This loan may be refinancing the syndicated loan committed in 2007 which ICBC and China Eximbank each committed $150 million to (captured in #63525 and #63524).

Number of official sources

3

Number of total sources

4