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Overview

Bank of China contributes to SGD 1.7 billion club loan facility to Orchard Turn Retail Investment for refinancing existing debt and general corporate purposes

Commitments (Constant USD, 2023)$167,817,635
Commitment Year•2016Country 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, 2016

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 ownershipAt least 25% Chinese ownership

Funding agencies

State-owned Commercial Banks

  • Bank of China (BOC)

Cofinancing agencies

Private Sector

  • DBS Bank Ltd.
  • Mizuho Bank, Ltd.
  • MUFG Bank, Ltd. (Formerly Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU))
  • Oversea-Chinese Banking Corporation, Limited (OCBC Bank)
  • RHB Capital Berhad
  • Sumitomo Mitsui Banking Corporation (SMBC)
  • United Overseas Bank Limited (UOB)

Receiving agencies

Joint Venture/Special Purpose Vehicles

  • Orchard Turn Retail Investment

Loan description

Bank of China contribution to SGD 1.7 billion club loan facility to Orchard Turn Retail Investment for refinancing existing debt and general corporate purposes

Interest type•Unknown

Narrative

Full Description

Project narrative

In January 2016, Bank of China and seven other banks agreed to terms on a SGD 1.7 billion club loan facility with Orchard Turn Retail Investment. The proceeds from the loan facility are to be used to refinance an existing SGD 1.2 billion facility held by Orchard Turn Retail Investment and for general corporate purposes. Details of the loan are unclear. Other participants in the club loan included Bank of Tokyo-Mitsubishi UFJ, DBS, Mizuho Bank, OCBC, RHB Capital, Sumitomo Mitsui Banking Corporation, and UOB.

Staff comments

1. As AidData is unable to ascertain the individual contributions made by members of the lending club, it has assumed that each lender provided an equivalent contribution (SGD 212,500,000).