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Overview

Bank of China contributes to $800 million SGD loan facility to DBS Trustee to finance the acquisition of Mapletree Business City

Commitments (Constant USD, 2023)$105,297,340
Commitment Year•2016Country of Activity•SingaporeDirect Recipient Country of Incorporation•SingaporeSector•Business And Other ServicesFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Aug 1, 2016
Start (actual)
Aug 1, 2016
End (actual)
Aug 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 ownership

Funding agencies

State-owned Commercial Banks

  • Bank of China (BOC)

Cofinancing agencies

Private Sector

  • DBS Bank Ltd.
  • HSBC (Hong Kong and Shanghai Banking Corporation)
  • Oversea-Chinese Banking Corporation, Limited (OCBC Bank)
  • Sumitomo Mitsui Banking Corporation (SMBC)
  • Sumitomo Mitsui Trust Bank, Limited (SMTB)

Receiving agencies

Private Sector

  • DBS Trustee Limited
  • Mapletree Pan Asia Commercial Trust (MPACT) (formerly Mapletree Commercial Trust (MCT))

Loan description

Bank of China contributions to SGD 800 million 2016 syndicated loan facility for acquisition of Mapletree Business City

Interest type•Unknown

Narrative

Full Description

Project narrative

In August 2016, a syndicate of six banks — including Bank of China (BOC) — signed a $800 million SGD symdocated loan facility with DBS Trusted Limited, operating as the trustee of Mapletree Commercial Trust, to finance the acquisition of Mapletree Business City. The proceeds of the facility were used to finance the acquisition of Mapletree Business City, a business park located in Singapore's Alexandra Precinct, which was completed in August 2016. DBS served as facility agent, with HSBC, OCBC Bank, Bank of China, Sumitomo Mitsui Trust Bank (SMTB), and Sumitomo Mitsui Banking Corp (SMBC) joining the syndicate.

Staff comments

1. The individual contributions of the six lenders to this $800 million SGD are unknown. Therefore, for the time being, to estimate BOC's contribution, AidData has assumed that each lender contributed equally ($133,333,333.333 SGD) to the loan syndicate.