Agricultural Bank of China contributes to a $600 million USD syndicated loan to Abu Dhabi Commercial Bank for general corporate purposes (Linked to Record ID#89680, #92476, #92477, #92478, and #92479)

Project narrative

On October 4, 2016, a syndicate of seven banks and Abu Dhabi Commercial Bank PJSC (ADCB), a bank majority-owned by Emirati state-owned Mubadala Investment Company, closed on a three-year, senior unsecured term $220 million USD loan facility. Then, on October 6, 2016, ADCB opened a general syndicate phase for facility that had its announced closure on November 21, 2016. General syndication brought another 15 lenders to the facility (for a total of 22 lenders), increasing the total facility amount to $600 million USD. The facility was intended for general corporate purposes and was targeted at the Asian loan syndication market. The facility carried a maturity of 3 years, a bullet repayment at the tenor, and an interest rate of 95 basis points per annum above LIBOR. Six Chinese state-owned banks contributed to this syndicated loan: the Macau Branch of the Bank of China Limited (BOC), the Seoul Branch of the Agricultural Bank of China Limited, the Hong Kong Branch of Shanghai Pudong Development Bank Co., Ltd. (SPDB), the DIFC Branch of China Construction Bank (CCB), China Construction Bank (London) Limited (a wholly owned subsidiary of China Construction Bank), and CWB Wing Bank Limited (a wholly owned subsidiary of China Merchants Bank). Record ID#89680 captures BOC's contribution. Record ID#92476 captures CCB's contribution. Record ID#92477 captures SPDB's contribution. Record ID#92478 captures CMB Wing Lung Bank's contribution. Record ID#92479 captures CCB London's contribution. Record ID#92480 captures Agricultural Bank of China's contribution. The London Branch of Wells Fargo Bank, N.A. served as the initial Mandated Lead Arranger (MLA), bookrunner, coordinator, and documentation and facility agent. The other MLAs of the syndicated loan included the DIFC Branch of CCB, China Construction Bank (London) Limited, United Overseas Bank Limited, the London Branch of Korea Development Bank, Korea Development Bank (KDB Bank), the Hong Kong Branch of SPDB, and CWB Wing Lung Bank Limited. The lead arrangers were the Osaka Branch of the State Bank of India, the Seoul Branch of the Agricultural Bank of China Limited, and Shinkin Central Bank. The arrangers were the Macau Branch of BOC, the Offshore Banking Branch of the Bank of Taiwan, and the Offshore Banking Branch of the Shanghai Commercial & Savings Bank, Ltd. Participants were the Offshore Banking Branch of the Land Bank of Taiwan, the Offshore Banking Branch of the Bank of Kaohsiung, the Hong Kong Branch of E. Sun Commercial Bank, Ltd., the Hong Kong Branch of Far Eastern International Bank, the Offshore Banking Branch of Hua Nan Commercial Bank, Ltd., Jih Sun International Bank, Ltd., the Offshore Banking Branch of Mega International Commercial Bank Co., Ltd., and Taiwan Shin Kong Commercial Bank. The Macau Branch of BOC, the Offshore Banking Branch of the Bank of Taiwan, the Seoul Branch of the Agricultural Bank of China Limited Seoul Branch, CWB Wing Lung Bank Limited, the London Branch of KDB Bank, KDB Bank, and the London Branch of Wells Fargo Bank, N.A. were the Original Lenders who signed the original $220 million USD facility agreement on October 4, 2016.