China Construction Bank contributes $32.31 million AUD to the four-year $600.00 million AUD term loan tranche of a $1.200 billion AUD syndicated loan for the 2018 Pacific National Refinancing Project (Linked to Record ID#94282, #94283, #94284, #94285, #94286, #94287, #94288, #94290, and #94291)

Project narrative

On September 3, 2018, financial close was reached on a deal in which a syndicate of 19 banks — including the Bank of China (BOC), the Bank of Communications (BoComm), China Construction Bank Corporation (CCB), the Industrial and Commercial Bank of China (ICBC), and the Agricultural Bank of China (ABC) — provided a $1.200 billion AUD ($863.03 million USD) syndicated loan to Pacific National Group, an Australian rail freight company, for the 2018 Pacific National Refinancing Project. This loan was divided into two tranches: a $600.00 million AUD ($431.51 million USD) term loan tranche with a maturity period of three years and a final maturity date of September 3, 2021 and a $600.00 million AUD term loan tranche with a maturity period of four years and a final maturity date of September 3, 2022. The proceeds of this loan were to be used to refinance the existing debt of Pacific National. As of December 31, 2018, none of the proceeds had been disbursed. In addition to the four Chinese state-owned banks, the following lenders contributed to this syndicated loan: Commonwealth Bank of Australia (CBA), Credit Suisse AG, Société Générale S.A. (SocGen), Export Development Canada, Mizuho Bank, Sumitomo Mitsui Banking Corporation (SMBC), National Australia Bank Limited (NAB), Australia and New Zealand Banking Group (ANZ), MUFG Bank, Ltd., Hua Nan Commercial Bank, Taiwan Business Bank, Taiwan Cooperative Bank, First Commercial Bank, and BNP Paribas S.A.. All lenders, including the five Chinese state-owned banks, contributed $31.58 million AUD ($22.71 million USD) to the three-year $600.00 million AUD term loan tranche. Record ID#94282 captures BOC's contribution. Record ID#94283 captures BoComm's contribution. Record ID#94284 captures CCB's contribution. Record ID#94285 captures ICBC's contribution. Record ID#94286 captures ABC's contribution. All lenders, excepting BNP Paribas, which contributed $18.42 million AUD ($13.25 million USD), contributed $32.31 million AUD ($23.24 million USD) to the four-year $600.00 million AUD term loan tranche. Record ID#94287 captures BOC's contribution. Record ID#94288 captures BoComm's contribution. Record ID#94289 captures CCB's contribution. Record ID#94290 captures ICBC's contribution. Record ID#94291 captures ABC's contribution.