Overview

Bank of China participates in SGD 400 million syndicated loan facility to Avery Strategic Investments for refinancing existing debt and general corporate purposes

Commitments (Constant USD, 2023)$33,158,877

Commitment Year•2018Country of Activity•SingaporeDirect Recipient Country of Incorporation•SingaporeSector•Business And Other ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2018

Stakeholders

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

Funding agencies

State-owned Commercial Banks

Bank of China (BOC)

Cofinancing agencies

Private Sector

Arab Bank
Deutsche Bank AG
First Commercial Bank Limited
Hong Leong Finance
RHB Bank Berhad
Taishin International Bank (Taishin Bank)
The Shanghai Commercial & Savings Bank, Ltd. (SCSB)

State-owned Banks

State Bank of India (SBI)

Receiving agencies

Private Sector

Avery Strategic Investments Pte. Ltd.

Loan description

Bank of China contribution to SGD 400 million syndicated loan facility to Avery Strategic Investments for refinancing existing debt and general corporate purposes

Interest type•Unknown

Narrative

Full Description

Project narrative

In 2018, Bank of China, Deutsche Bank AG, Hong Leong Finance, State Bank of India, Arab Bank, First Commercial Bank, Shanghai Commercial & Savings Bank, RHB Bank and Taishin International Bank agreed to terms on a SGD 400 million syndicated loan facility with Avery Strategic Investments Pte. Ltd., a Singaporean real estate developer. The proceeds of the loan will service to refinance existing debt and for general corporate purposes. The details of the loan facility are unknown. Deutsche Bank and Bank of China served as bookrunners and mandated lead arrangers. Hong Leong Finance served as a third mandated lead arranger.

Staff comments

1. As AidData is unable to ascertain the specific contributions to the facility made by each member of the syndicate, it was estimated each contribution as being equal (SGD 44,444,444.40).