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Overview

Bank of China contributes to SGD 2.5 billion syndicated loan facility to Singtel Group Treasury Pte. Ltd. for refinancing and general corporate purposes

Commitments (Constant USD, 2023)$143,775,616
Commitment Year•2020Country of Activity•SingaporeDirect Recipient Country of Incorporation•SingaporeSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2020

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, N.A.
  • Citibank, N.A.
  • DBS Bank Ltd.
  • HSBC (Hong Kong and Shanghai Banking Corporation)
  • Mizuho Bank, Ltd.
  • MUFG Bank, Ltd. (Formerly Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU))
  • Oversea-Chinese Banking Corporation, Limited (OCBC Bank)
  • Société Générale S.A. (SocGen or Societe Generale)
  • Standard Chartered Bank PLC
  • Sumitomo Mitsui Banking Corporation (SMBC)
  • United Overseas Bank Limited (UOB)

Receiving agencies

State-owned companies

  • Singtel Group Treasury Pte. Ltd.

Guarantors

State-owned companies

  • Singapore Telecommunications Limited (Singtel)

Loan description

Bank of China contribution to SGD 2.5 billion syndicated loan facility to Singtel Group Treasury Pte. Ltd. for refinancing and general corporate purposes

Interest type•Unknown

Narrative

Full Description

Project narrative

In 2020, Bank of China and 12 other banks agreed to participate in a SGD 2.5 billion syndicated revolving credit facility with Singtel Group Treasury Pte. Ltd., a subsidiary of Singtel Telecommunications Limited, for refinancing existing debt and general corporate purposes. Singtel provided a corporate guarantee to the loan. Details of the loan are unclear. Participants in the syndicate included: Australia and New Zealand Banking Group Limited, Bank of America, Citibank, DBS Bank, HSBC, Mizuho Bank, MUFG Bank, Oversea-Chinese Banking Corporation Limited, Societe Generale, Standard Chartered Bank, Sumitomo Mitsui Banking, and United Overseas Bank. The banks were advised by firm Allen & Gledhill.

Staff comments

1. As AidData is unable to ascertain the individual contributions made to the syndicated loan, it has estimated each of the thirteen banks' contributions as equal (SGD 192,307,692.31).