ICBC (Asia) participates in tranche two of $600 million syndicated loan to Tata Motors (Linked to Record ID#96724)

Project narrative

In March 2014, Industrial and Commercial Bank of China (Asia) agreed to participate in a $600 million syndicated loan to Tata motors. The loan was split into a four- and six-year tranche, and companies could contribute either USD or SGD. For the four-year loan, the interest rate was 222.5 basis points over LIBOR for US dollar commitments and 197.5 basis points for Singapore dollar commitments, while for the six-year loan, the margin is at 310 basis points and 285 basis points for the respective currencies. Tata motors planned to use the loan proceeds for an internal restructuring Record ID#96725 captures ICBC's contribution to the the six year tranche. Record ID#96724 captures ICBC's contribution to the four year tranche.. Bookrunners and mandated lead arrangers Australia and New Zealand Bank, DBS, First Gulf Bank, State Bank of India, and Standard Chartered each contributed $58 million. Crédit Agricole, which joined as an MLAB immediately after general syndicated, contributed $48 million, while MLA HSBC contributed $40 million. Korea Development Bank and Industrial and Commercial Bank of China (Asia) each contributed $50 million, Banco de Oro and Société Générale each contributed $25 million. Aozora Bank and Bank of Muscat each contributed $20 million, while Chang Hwa Commercial Bank, State Bank of India (Mauritius) and Taishin Bank each contributed $10 million.