Bank of China contributes to a $75 million AUD tranche to a $200 million AUD syndicated loan for APN Outdoor for general and working capital purposes (Linked to Record ID#93250)

Project narrative

In September 2017, a syndicate of three banks — the Bank of China (BOC), the Commonwealth Bank of Australia (CBA), and Westpac Banking Corporation — entered into a $200 million AUD syndicated facility (loan) agreement with APN Outdoor Group Limited, an Australian outdoor advertising firm. The facility consisted of a two tranches: a $125 million AUD tranche with a maturity period of three years and a final maturity and expiry date of September 7, 2020 and a $75 million AUD tranche with a maturity period of five years and a final maturity and expiry date of September 7, 2022. The proceeds of both tranches were available for use for general and working capital purposes. The facility was secured by (i.e. collateralized against) all of APN Outdoor's assets and undertakings. As of December 31, 2017, $108,451,000 AUD had been drawn down under the $125 million AUD facility and $33,315,000 AUD had been drawn down under the $75 million AUD facility for a total of $141,766,000 AUD. The drawn down figures included $26.0 million AUD of bank guarantees and other credit facilities. $115.8 million AUD, plus the $26.0 million AUD for bank guarantees and other credit facilities, had been drawn down as of June 30, 2018. Record ID#93250 captures BOC's contribution to the $125 million AUD tranche. Record ID#93251 captures BOC's contribution to the $75 million AUD tranche.