Bank of China contributes to the two-year $515 million AUD tranche of a $1.03 billion AUD syndicated loan to APA Group for refinancing purposes (Linked to Record ID#93248)

Project narrative

On September 10, 2009, financial closure was reached on a deal in which a syndicate of 12 banks — including the Bank of China (BOC) — issued a $1.03 billion AUD ($953 million USD) forward start facility (FSF) (loan) to APA Group, an Australian company that owns and operates natural gas and electricity infrastructure. The $1.03 billion AUD syndicated loan was divided into two equal-sized ($515,000,000 AUD each) tranches, one with a maturity period of two years and a final maturity date in July 2011 and one with a maturity period of four years and a final maturity date in July 2013. The participating banks in the syndicate consisted of three local and nine offshore banking groups. The proceeds of this syndicated loan were used to refinance a $900 million AUD bank facility maturing in June 2010 and a $102 million AUD US Private Placement facility due in September 2010. As of December 31, 2009, $430 million AUD was drawn down from the tranches; as of February 2010, the drawn amount was reduced to $405 million AUD Record ID#93247 captures BOC's contribution to the two-year tranche. Record ID#93248 captures BOC's contribution to the four-year tranche.