Bank of China participates in $288 million syndicated term loan tranche for trade financing purposes (Linked to Project ID#96111)

On October 13, 2020, Akbank T.A.Ş. — a privately-owned bank in Turkey — signed an EUR 348,500,000 syndicated term loan facility agreement and a $288,000,000 syndicated term loan facility agreement with a group of 34 Chinese and non-Chinese banks for trade financing purposes. The EUR 348,500,000 syndicated term loan facility (as captured via Project ID#96111) carries a 1-year maturity and an interest rate of EURIBOR plus a 2.25% margin. The $288,000,000 syndicated term loan facility (as captured via Project ID#96112) carries a 1-year maturity and an interest rate of LIBOR plus a 2.5% margin. Coordinators included Bank of America Merrill Lynch International Designated Activity Company, The Commercial Bank P.S.Q.C. and Standard Chartered Bank. Bookrunners & Mandated Lead Arrangers included Standard Chartered Bank, The Commercial Bank P.S.Q.C., Emirates NBD Bank (P.J.S.C.), Société Générale S.A., Bank of America Merrill Lynch International Designated Activity Company, and Citibank N.A., London Branch. Lead Arrangers included Mizuho Bank, Ltd., ING Bank N.V., Deutsche Bank AG, London Branch, MUFG Bank, Ltd. Arrangers included HSBC Bank A.Ş., J.P. Morgan Securities plc, Commercial Bank of Kuwait K.P.S.C., BNP Paribas, Bank of China Limited, Grand Cayman Branch, Commerzbank Aktiengesellschaft, Filiale Luxemburg, Intesa Sanpaolo S.p.A., London Branch, Morgan Stanley Bank International Limited, Banka Kombëtare Tregtare Kosovë Sh.A., Attijariwafa bank Europe, Bank of Montreal, Habib Bank AG Zurich, UAE, Mashreqbank PSC, UniCredit Bank AG, The Bank of New York Mellon, THE NATIONAL BANK OF RAS AL KHAIMAH (P.S.C), KBC Bank NV, ABC International Bank plc, Erste Group Bank AG, Goldman Sachs International, Raiffeisen Bank International AG, International Bank of Azerbaijan, Bank Al Habib Limited - Bahrain Branch, OJSC PASHA Bank. The Commercial Bank (P.S.Q.C.) and Standard Chartered Bank acted as Joint Coordinators & Bookrunners on the transaction. Bank of America Merrill Lynch International Designated Activity Company also acted as Documentation Agent, and Mizuho Bank, Ltd. acted as Facility Agent.

Additional details

1. The individual contributions of the banks that participated in the $288,000,000 syndicated loan are unknown. For the time being, AidData assumes equal contributions ($8,470,588) across all 34 members of the loan syndicate. 2. AidData has estimated the all-in interest rate by adding 2.5% to average 6-month LIBOR in October 2020 (0.247%).

Number of official sources

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Number of total sources

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