Bank of China contributes $7.50 million AUD to a $30 million AUD tranche of the $200 million AUD syndicated loan for the Dalrymple Bay Coal Terminal Refinancing Project (Linked to Record ID#93798)

Project narrative

On August 24, 2021, financial close was reached on a deal in which a syndicate of four banks — including Bank of China (BOC), Australia and New Zealand Banking Group (ANZ), Mizuho Bank, and National Australia Bank Limited (NAB) — provided a $200 million AUD ($144.40 million USD) syndicated revolving loan to Dalrymple Bay Infrastructure Limited (DBI) — a special purpose vehicle, for the operation, maintenance, and development of Queensland Government-owned Dalrymple Bay Coal Terminal, that is owned by Queensland Investment Corporation (QIC) (10%), an investment company owned by the Queensland Government, the Brookfield Americas Infrastructure Fund (15%), and Brookfield Infrastructure Partners (75%) — for the Dalrymple Bay Coal Terminal Refinancing Project. The $200 million AUD syndicated loan was divided into two tranches: a $170 million AUD ($122.74 million USD) revolving facility tranche with a maturity period of five years and a final maturity date of August 13, 2026 and a $30 million AUD ($21.66 million USD) revolving facility tranche with a maturity period of four years and a final maturity date of August 13, 2025. This syndicated loan received the benefit of the DB Finance Deed of Common Provisions and ranked pari passu with all other senior secured debt. The syndicated loan was secured by (i.e. collateralized against) units and shares held in DBT Trust and Dalrymple Bay Infrastructure Management Pty Ltd (DBIM), a fixed and floating charge over all the assets of Dalrymple Bay Finance Pty Ltd (DB Finance), DBT Trust, and DB Finance, and real property mortgages granted by the DBT Trust and DBIM. All lenders, including BOC, equally contributed $42.50 million AUD ($30.69 million USD) to the $170 million AUD tranche and $7.50 million AUD ($5.42 million USD) to the $30 million AUD tranche. The proceeds are to be used by DBI to refinance debt related to the Dalrymple Bay Coal Terminal. As of December 31, 2021, $48 million AUD had been drawn down under the $200 million AUD syndicated facility. Record ID#93798 captures BOC's $42.50 million AUD contribution to the $170 million AUD tranche. Record ID#93799 captures BOC's $7.50 million AUD contribution to the $30 million AUD tranche.