Bank of China contributes $65 million AUD to a $800 million AUD syndicated capex facility to NSW Electricity Networks Finance Pty Limited for TransGrid's capital expenditures

Project narrative

On June 4, 2021, financial close was reached on a deal in which a syndicate of 13 banks — including the Bank of China (BOC) — entered into a $800.00 million AUD ($612.87 million USD) syndicated capex facility (loan) agreement with with NSW Electricity Networks Finance Pty Limited — a special purpose vehicle (SPV) that serves as the financing vehicle for the NSW Electricity Networks (NSWEN) group — for TransGrid's capital expenditures. This loan carried a maturity period of three years and six months (3.5 years). The proceeds of the facility were to be used by TransGrid for its capital expenditures. TransGrid is the manager and operator of the high voltage electricity transmission network in New South Wales (ACT) and Australian Capital Territory (ACT). BOC contributed $65.00 million AUD ($49.80 million USD) to the syndicated capex facility. In addition to BOC, the following lenders contributed the respective amounts to this syndicated facility: Sumitomo Mitsui Banking Corporation (SMBC) ($60.00 million AUD; $45.97 million USD), United Overseas Bank Limited (UOB) ($60.00 million AUD), Westpac Banking Corporation ($75.00 million AUD; $57.46 million USD), Société Générale S.A. (SocGen) ($65.00 million AUD), Royal Bank of Canada ($55.00 million AUD; $42.13 million USD), National Australia Bank Limited (NAB) ($55.00 million AUD), MUFG Bank, Ltd. ($65.00 million AUD), Mizuho Bank ($65.00 million AUD), ING Bank N.V. ($55.00 million AUD), Canadian Imperial Bank of Commerce (CIBC) ($55.00 million AUD), Commonwealth Bank of Australia (CBA) ($65.00 million AUD), and Australia and New Zealand Banking Group (ANZ) ($60.00 million AUD)."