Bank of Communications contributes $31.6 million AUD to a $158 million AUD term loan tranche of a $170 million AUD syndicated loan for the 106.8 MW Taralga Wind Farm Refinancing Project (Linked to Record ID#94044 and #94045)

Project narrative

On August 15, 2019, financial close was reached on a deal in which a syndicate of five banks — including the Bank of China (BOC), China Construction Bank Corporation (CCB), and Bank of Communications (BoCom) — entered into a $170.00 million AUD ($115.31 million USD) syndicated loan agreement with Taralga Wind Farm Pty Ltd — a special purpose vehicle jointly owned by Australia's CBD Energy Limited and Chinese state-owned State Power Investment Corporation (SPIC) — for the Taralga Wind Farm (106.8MW) Refinancing Project. This loan was divided into two tranches: a $158.00 million AUD ($107.17 million USD) term loan tranche with a maturity period of five years and a final maturity date of August 15, 2024 provided by all five lenders and a $12.00 million AUD ($8.14 million USD) letter of credit tranche with a five-year maturity provided by Australia and New Zealand Banking Group (ANZ). All five lenders contributed $31.60 million AUD ($21.43 million USD) to the $158.00 million USD term loan tranche. In addition to BOC, CCB, and BoCom, ANZ and Bank of America Corporation contributed to this loan. The proceeds of this loan were used by the borrower to refinance the 106.8 MW Taralga Wind Farm in New South Wales. Record ID#94044 captures BOC's contribution. Record ID#94045 captures CCB's contribution. Record ID#94046 captures BoCom's contribution.