BOCHK contributes $3.08 million to a $160 million syndicated loan with Therma Power (Linked to Project ID#96804 and #96805)
Commitment amount
$ 3633244.6447362206
Adjusted commitment amount
$ 3633244.64
Constant 2021 USD
Summary
Funding agency [Type]
Bank of China (Hong Kong) Limited (BOCHK) [State-owned Commercial Bank]
Bank of China (BOC) [State-owned Commercial Bank]
Recipient
Philippines
Sector
Business and other services (Code: 250)
Flow type
Loan
Level of public liability
Other public sector debt
Infrastructure
Yes
Category
Project lifecycle
Description
On December 23, 2016, Therma Power, Inc. (“TPI”) - a wholly-owned subsidiary of Aboitiz Power Corporation - entered into a syndicated loan of $160 million USD with 20 banks. The purpose of the loan is to partially finance TPI’s acquisition of indirect partnership interests in GNPower Mariveles Coal Plant Ltd. Co. (“GMCP”) and GNPower Dinginin Ltd. Co. (“GNPD”). The loan had a final maturity date of October 4, 2018. The detailed breakdown of each bank's contribution is as below. 1. Bank of China (Hong Kong) Limited, Hong Kong ($3,076,923.08 USD) (Project ID#96802) 2. Bank of China Limited, Singapore Branch ($2,338,461.54 USD) (Project ID#96804) 3. Bank of China Limited, Manila Branch ($738,461.54 USD) (Project ID#96804) 4. China Construction Bank Corporation, Hong Kong Branch ($5,907,692.31 USD) (Project ID#96805) 5. MUFG Bank, Ltd., Labuan Branch ($26,666,666.83 USD) 6. DBS Bank Ltd., Singapore ($13,332,512.74 USD) 7. The Hongkong and Shanghai Banking Corporation Limited, Hong Kong ($26,666,666.83 USD) 8. Maybank International, Labuan Branch ($13,332,512.74 USD) 9. Mizuho Bank, Ltd., Singapore Branch ($26,666,666.83 USD) 10. Standard Chartered Bank, Singapore Branch ($19,734,974.52 USD) 11. Mega International Commercial Bank Co., Ltd., Manila Branch ($1,846,153.85 USD) 12. Mega International Commercial Bank Co, Ltd., Offshore Banking Branch ($1,846,153.85 USD) 13. Chang Hwa Commercial Bank Co., Ltd., Offshore Banking Branch ($2,461,538.46 USD) 14. Taiwan Business Bank, Offshore Banking Branch ($2,461,538.46 USD) 15. First Commercial Bank, Offshore Banking Branch ($2,461,538.46 USD) 16. Taiwan Cooperative Bank, Offshore Banking Branch ($2,461,538.46 USD) 17. CTBC Bank Co., Ltd, Singapore ($2,461,538.46 USD) 18. Hua Nan Commercial Bank, Ltd., Offshore Banking Branch ($2,461,538.46 USD) 19. Sunny Bank Ltd., Taipei ($1,846,153.85 USD) 20. The Export-Import Bank of the Republic of China, Taipei ($1,230,769.23 USD) As part of this refinancing plan and to minimize interest expenses, TPI has fully repaid the medium-term loan ahead of its stated maturity date.
Number of official sources
1
Number of total sources
1
Details
Cofinanced
Yes
Cofinancing agencies [Type]
Maybank International (L) Limited [Private Sector]
Mizuho Bank [Private Sector]
Standard Chartered Bank PLC [Private Sector]
Chang Hwa Commercial Bank Limited [Private Sector]
Taiwan Business Bank (TBB) [Private Sector]
First Commercial Bank Limited [Private Sector]
Taiwan Cooperative Bank [State-owned Bank]
CTBC Bank [Private Sector]
Sunny Bank [Private Sector]
China Construction Bank Corporation (CCB) [State-owned Commercial Bank]
Bank of China (BOC) [State-owned Commercial Bank]
Export-Import Bank of the Republic of China, Taipei [State-owned Bank]
Hua Nan Commercial Bank, Ltd. (HNCB) [Private Sector]
Mega International Commercial Bank Co., Ltd. [Private Sector]
HSBC Bank PLC [Private Sector]
DBS Bank [Private Sector]
MUFG Bank, Ltd. (Formerly Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU)) [Private Sector]
Direct receiving agencies [Type]
Therma Power, Inc. (TPI) [State-owned Company]
Loan Details
Maturity
2 years