ICBC contributes $31.8 million USD to a 2017 $381.6 million USD syndicated loan to Energy Fund Finance to refinance its corporate debt (Linked to Record ID#94333)

Project narrative

In December 2017, financial close was reached on a deal in which a syndicate of 12 banks — including the Bank of China (BOC) and the Industrial and Commercial Bank of China (ICBC) — entered into a $381.6 million USD syndicated loan facility agreement with Energy Fund Finance Co Pty — a special purpose vehicle (SPV) jointly owned by APA Group (19.9%), Marubeni (49.9%), and Osaka Gas (30.2%) that acts as the Osaka Gas-sponsored energy distributor in Australia — to refinance Energy Fund's corporate debt. Specifically, the proceeds were to refinance Energy Fund's existing loan. All lenders, including BOC and ICBC, contributed $31.8 million USD, to the syndicated loan. Record ID#94333 captures BOC's $31.8 million USD contribution. Record ID#94334 captures ICBC's $31.8 million USD contribution. In addition to the two Chinese state-owned banks, the following lenders contributed to this syndicated loan: MUFG Bank, Ltd., Sumitomo Mitsui Banking Corporation (SMBC), Australia and New Zealand Banking Group (ANZ), Commonwealth Bank of Australia (CBA; CommBank), National Australia Bank Limited (NAB), Shinsei Bank, HSBC Bank PLC, Oversea-Chinese Banking Corporation, Limited (OCBC Bank), RBC Capital Markets, and Sumitomo Mitsui Trust Bank, Limited (SMTB).