China Construction Bank contributes $20 million AUD to the $90 million AUD revolver tranche of a $240 million AUD syndicated loan for the Pacific Hydro 2020 Refinancing Project (Linked to Record ID#95139 and #95140)

Project narrative

On December 15, 2020, financial close was reached on a deal in which a syndicate of five banks — including China Construction Bank Corporation (CCB) and the Industrial and Commercial Bank of China (ICBC) — provided a $240 million AUD ($180.23 million USD) syndicated loan to Pacific Hydro Australia for the Pacific Hydro 2020 Refinancing Project. This $240 million AUD loan was divided into three tranches: a $90.00 million AUD ($67.59 million USD) revolver tranche with a maturity period of five years and a maturity date of December 15, 2025 provided by CCB ($20.00 million AUD; $15.02 million USD), National Bank of Australia (NAB) ($50.00 million AUD; $37.55 million USD), and Australia and New Zealand Banking Group ($20.00 million AUD); a $140.00 million AUD ($105.14 million USD) term loan tranche with a maturity period of five years and a maturity date of December 15, 2025 provided by CCB ($50.00 million AUD), ICBC ($60.00 million AUD; $45.06 million USD), and DBS Bank ($30.00 million AUD; $22.53 million USD); and a $10.00 million AUD ($7.51 million USD) revolver tranche with a maturity period of one year and a maturity date of December 15, 2021 provided entirely by NAB.. The proceeds of this loan were to be used by Pacific Hydro Australia to refinance its corporate debt. Record ID#95138 captures CCB's $20 million AUD contribution to the $90 million AUD revolver tranche. Record ID#95139 captures CCB's $50 million AUD contribution to the $140 million AUD term loan tranche. Record ID#95140 captures ICBC's $60 million AUD contribution to the $140 million AUD term loan tranche.