Overview

ICBC (Asia) contributes $17 million USD to $120 million USD syndicated revolving credit facility to April Fine Paper Holdings for general corporate purposes, capital expenditures, and working capital needs (Linked to Record ID#96900)

Commitments (Constant USD, 2023)$18,424,903

Commitment Year•2012Country of Activity•SingaporeDirect Recipient Country of Incorporation•SingaporeOverseas Jurisdiction•Hong Kong (China)Sector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Dec 1, 2012

Last repayment (originally scheduled): Dec 1, 2015

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

Industrial and Commercial Bank of China (Asia) Limited (ICBC (Asia))

Cofinancing agencies

Private Sector

ABN AMRO Bank NV
Cathay United Bank
MUFG Bank, Ltd. (Formerly Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU))
Raiffeisen Bank International AG

State-owned Commercial Banks

China CITIC Bank International Limited (formerly CITIC Ka Wah Bank)

Receiving agencies

Private Sector

April Fine Paper Holdings Pte Ltd

Loan description

2012 China Citic Bank International and ICBC (Asia) $120 million USD syndicated revolving credit facility to April Fine Paper Holdings for general corporate purposes, capital expenditures, and working capital needs

Interest type•UnknownMaturity•3 years

Narrative

Full Description

Project narrative

In December 2012, a syndicate of six banks — including China Citic Bank International Limited and the Industrial and Commercial Bank of China (Asia) Limited (ICBC (Asia)) — signed a $120 million USD syndicated revolving credit facility with April Fine Paper Holdings Pte Ltd — a Singapore-incorporated and based paper manufacturing company and subsidiary of Asia Pacific Resources International Holdings Limited (APRIL Group). The facility carried a three-year maturity. Proceeds from the loan were to be used for general corporate purposes, capital expenditures, and working capital needs. ABN AMRO and China Citic Bank served as bookrunners and mandated lead arrangers, contributing $33 million USD and $21 million USD, respectively. Bank of Tokyo-Mitsubishi UFJ, Cathay United Bank, ICBC (Asia), and Raiffeisen Bank International all served as arrangers, each contributing $17 million USD. Record ID#96899 captures China Citic Bank International's contribution. Record ID#96900 captures ICBC (Asia)'s contribution.