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Overview

Bank of China contributes $150 million AUD to a $800 million AUD syndicated loan to Consolidated Press (Finance) for refinancing purposes

Commitments (Constant USD, 2023)$168,350,282
Commitment Year•2012Country of Activity•AustraliaDirect Recipient Country of Incorporation•AustraliaSector•Business And Other ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Nov 8, 2012

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Commercial Banks

  • Bank of China (BOC)

Cofinancing agencies

Private Sector

  • Australia and New Zealand Banking Group (ANZ)
  • Bank of America Corporation
  • BNP Paribas S.A.
  • Commonwealth Bank of Australia (CBA) (CommBank)
  • National Australia Bank Limited (NAB)
  • Westpac Banking Corporation

Receiving agencies

Joint Venture/Special Purpose Vehicles

  • Consolidated Press (Finance) Pty Ltd.

Loan description

Bank of China contributions to a $800 million AUD syndicated loan to Consolidated Press (Finance) for refinancing purposes

Interest type•Unknown

Narrative

Full Description

Project narrative

Between November 2 and 8, 2012, a syndicate of seven banks — including the Bank of China (BOC) — entered into a $800 million AUD revolver syndicated facility (loan) agreement with Consolidated Press (Finance) Pty Ltd. — a special purpose vehicle (SPV) owned by Australian investment company Consolidated Press Holdings Pty Limited (CPH) — for refinancing purposes. The proceeds of this facility were used to refinance an existing $500 million AUD facility signed in December 2010. This syndicated facility was divided into four tranches: a $88 million AUD tranche, $313 million AUD tranche, a $243 million AUD tranche, and a $158 million AUD tranche. The breakdown of lender contributions is as follows: BOC ($150 million AUD), Australia and New Zealand Banking Group (ANZ) ($200 million AUD), National Australia Bank Limited (NAB) ($175 million AUD), Westpac Banking Corporation ($100 million AUD), Commonwealth Bank of Australia (CBA) ($100 million AUD), Bank of America Corporation ($50 million AUD), and BNP Paribas S.A. ($25 million AUD). ANZ, NAB, and Westpac served as mandated lead arrangers and bookrunners. BOC joined as a mandated lead arranger. CBA and Bank of America served as arrangers. BNP Paribas served as a lead arranger.