China Construction Bank contributes $40 million AUD to $400 million AUD in debt revolving facilities for Spark Infrastructure

Project narrative

In February 2020, a syndicate of six banks — including the Sydney Branch of China Construction Bank Corporation (CCB) — entered into bilateral corporate debt facilities worth a total of $400 million AUD with Australian investment fund and electricity infrastructure owner Spark Infrastructure (Victoria) Pty Limited, replacing $120.0 million AUD of old bilateral facilities. As part of these facilities, CCB committed a $40,000,000 AUD revolving facility to Spark Infrastructure. This facility carried a maturity period of three years and a final maturity date of February 2023. In addition the Sydney Branch of CCB, the following banks committed revolving facilities: Mizuho Bank ($110,000,000 AUD), MUFG Bank, Ltd. ($70,000,000 AUD), Sumitomo Mitsui Banking Corporation (SMBC) ($70,000,000 AUD), Westpac Banking Corporation ($70,000,000 AUD), and Commonwealth Bank of Australia (CBA) ($40,000,000 AUD). All these facilities carried maturities of three years and the interest on all (including CCB's facility) was based on BBSY plus an average margin of 95 basis points (bps).