ICBC (Asia) contributes $50 million AUD to a $9 billion AUD syndicated loan to Macquarie Group to support its restructuring efforts (Linked to Record ID#94994 and #94995)

Project narrative

On November 13, 2007, a syndicate of 46 banks — including the Bank of China (Hong Kong) Ltd. (BOCHK), China Construction Bank Corporation (CCB), and the Industrial and Commercial Bank of China (Asia) Limited (ICBC (Asia) — signed a $9 billion AUD syndicated multi-tranche facility with Macquarie Group Limited, an Australian global financial services group and major infrastructure asset manager. The facility consisted of a $5 billion AUD term facility, a $2.4 billion AUD revolver pro-rated across three-, four- and five-year tenors, and a $1.6 billion AUD 364-day standby facility, with the maturities ranging out to November 2012. The proceeds were to be used by the borrower to fund the acquisition of the investment banking businesses from Macquarie Bank Limited as part of the proposed restructure of the Macquarie Group, which leave two primary external funding vehicles for the group: Macquarie Group Limited and Macquarie Bank Limited. BOCHK contributed $175 million AUD, CCB contributed $100 million AUD, and ICBC (Asia) contributed $50 million AUD. Record ID#94994 captures BOCHK's contribution. Record ID# captures CCB's contribution. Record ID#94995 captures ICBC (Asia)'s contribution. In addition to the three Chinese banks, the following lenders contributed the respective amounts to the syndicated loan: Australia and New Zealand Banking Group (ANZ) ($405.43 million AUD), Barclays Capital ($405.43 million AUD), Dresdner Kleinwort ($405.43 million AUD), National Australia Bank Limited (NAB) ($405.43 million AUD), HSBC Bank PLC ($405.43 million AUD), Royal Bank of Scotland (RBS) ($405.43 million AUD), Westpac Banking Corporation ($405.43 million AUD), Commonwealth Bank of Australia (CBA) ($600 million AUD), ABN AMRO Bank ($350 million AUD), JPMorgan ($350 million AUD), Merrill Lynch ($175 million AUD), Bank of America Corporation ($250 million AUD), Bank of Montreal (Ireland) ($250 million AUD), Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU) ($250 million AUD), Banco Bilbao Vizcaya Argentaria S.A. (BBVA) ($250 million AUD), Citi ($250 million AUD), Credit Suisse AG ($250 million AUD), Deutsche Bank AG ($250 million AUD), Goldman Sachs ($250 million AUD), Sumitomo Mitsui Banking Corporation (SMBC) ($250 million AUD), Standard Chartered Bank ($250 million AUD), Lloyds TSB Bank ($200 million AUD), WestLB AG ($200 million AUD), Bank of New York ($150 million AUD), Société Générale S.A. (SocGen) ($150 million AUD), UBS AG ($150 million AUD), BNP Paribas S.A. ($100 million AUD), Royal Bank of Canada (RBC) ($100 million AUD), United Overseas Bank Limited (UOB) ($100 million AUD), Wachovia Bank ($100 million AUD), Bank of Scotland International (Australia) ($75 million AUD), Canadian Imperial Bank of Commerce (CIBC) ($75 million AUD), Toronto-Dominion Bank ($75 million AUD), Chang Hwa Commercial Bank ($50 million AUD), Dexia ($50 million AUD), Intesa Sanpaolo S.p.A. ($50 million AUD), Lehman Brothers Inc. ($50 million AUD), Taipei Fubon Commercial Bank Co., Ltd. ($50 million AUD), Taiwan Cooperative Bank ($50 million AUD), Mega International Commercial Bank Co., Ltd. ($45 million AUD), Chinatrust Commercial Bank ($22 million AUD), and Export-Import Bank of the Republic of China ($20 million AUD). ABN AMRO, ANZ, Barclays Capital, CBA, Dresdner Kleinwort, HSBC, JPMorgan, Merrill Lynch, NAB, RBS, and Westpac served as the original mandated arrangers. BOCHK, Bank of America, Bank of Montreal (Ireland), BTMU, BBVA, Citi, Credit Suisse, Deutsche Bank, Goldman Sachs, SMBC, Standard Chartered, Lloyds TSB Bank, and WestLB joined in syndication as lead arrangers. Bank of New York, SocGen, and UBS joined in syndication as arrangers. CCB, BNP Paribas, RBC, UOL, and Wachovia joined in syndication as co-arrangers. ICBC (Asia), Bank of Scotland International (Australia), CIBC, Toronto-Dominion Bank, Chang Hwa Commercial, Dexia, Intesa Sanpaolo, Lehman Brothers, Taipei Fubon Commercial, Taiwan Cooperative, Mega International Commercial, Chinatrust Commercial Bank, and Export-Import Bank of the Republic of China joined in syndication as senior lead arrangers. The acquisition was completed on November 13, 2007. As of March 31, 2008, Macquarie had drawn down $4.9 billion AUD under this facility.