ICBC (Asia) contributes to a $1.35 billion syndicated term loan facility to the Standard Bank of South Africa for general corporate purposes, including trade finance (Linked to Record ID#96717, #96719, #96721)

Project narrative

On May 25, 2012, a syndicate of 31 banks entered into a $1.35 billion syndicated term loan facility to the Standard Bank of South Africa. The loan facility launched at $750 million with the capacity to reach a liquidity of $1.35 billion due to an oversubscription of $726 million. The loan facility had a maturity date of 36 months. The purpose of the loan facility was to support the general corporate functions of Standard Bank, including trade financing. Craig Polkinghorne, global head and director of structured trade and commodity finance at the time, stated that the loan would "include opportunities linked to natural resources across all Africa's regions". The Chinese lenders involved with the syndicate included the Agricultural Bank of China's UK branch (ABCUK) (captured in Record ID#96717), China Construction Bank's (CCB) Johannesburg branch (captured in Record ID#96719), the Industrial and Commercial Bank of China's (ICBC) (Asia) (captured in Record ID#96720), and the Industrial and Commercial Bank of China's (ICBC) New York branch (captured in Record ID#96721). The Bank of Tokyo-Mitsubishi, China Construction Bank's (CCB) Johannesburg branch, Citibank's London branch, HSBC, Mizuho Corporate Bank, and Standard Chartered Bank acted as coordinators, bookrunners, and initial mandated lead arrangers. Commerzbank Aktiengesellschaft, ICBC (Asia), Industrial and Commercial Bank of China's (ICBC) New York branch, and JPMorgan Chase Bank's London branch acted as mandated lead arrangers. Bank of America Merrill Lynch (now BofA Securities, Inc.), Bayerische Landesbank, The Bank of New York Mellon, Sumitomo Mitsui Finance Dublin Limited, and Wells Fargo Bank acted as lead arrangers. Al Ahli, BNP Paribas, Wholesale Bank Bahrain, and UBS's London Branch acted as arrangers. Agricultural Bank of China's (ABCUK) UK branch, Bank of Muscat, British Arab Commercial Bank PLC, Chang Hwa Commercial Bank, Offshore Banking Branch (Most likely referring to a Taiwanese bank acting through the Republic of China's "Offshore Banking Branch" system), Doha Bank QSC, Kookmin Bank, Mega International Commercial Bank Co. Offshore Banking Branch, Pohjola Bank PLC, and Taiwan Cooperative Bank Offshore Banking Branch acted as lead managers. Atlantic Forfaitierungs, the Export-Import Bank of the Republic of China, Land Bank of Taiwan, and the Shanghai Commercial and Savings Bank (SCSB) Offshore Banking Branch acted as managers. The Export-Import Bank of the Republic of China contributed only $5 million to the syndicated term loan facility, and did not provide insurance for the deal.