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Overview

Bank of China contributes to SGD 70 million syndicated loan to the Shangri-La Hotel Singapore for debt refinancing and working capital purposes

Commitments (Constant USD, 2023)$30,081,359
Commitment Year•2002Country of Activity•SingaporeDirect Recipient Country of Incorporation•SingaporeOverseas Jurisdiction•SingaporeSector•Business And Other ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jun 1, 2002
Last repayment (originally scheduled)
May 31, 2005

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% Chinese ownership

Funding agencies

State-owned Commercial Banks

  • Bank of China (BOC)

Cofinancing agencies

Private Sector

  • DBS Bank Ltd.

State-owned Banks

  • Norddeutsche Landesbank Girozentrale (NORD/LB)

Receiving agencies

Private Sector

  • Shangri-La Hotel Singapore

Loan description

Bank of China contributions to SGD 70 million 2002 syndicated loan facility for refinancing and working capital with Shangri-La Hotel Singapore

Interest rate (t₀)•1.22%Interest type•Variable Interest RateLoan tenor•6-month rateMaturity•3 years

Narrative

Full Description

Project narrative

In June 2002, a group of banks, including Bank of China, agreed to a SGD 70 million syndicated loan to the Shangri-La Hotel in Singapore for debt refinancing and working capital purposes. The bullet loan has a three-year maturity and an interest rate of 52 basis points over the six-month Singapore dollar swap rate (SIBOR). DBS served as mandated arranger, with NORD/LB (Singapore) and Bank of China's Singapore branch joining the syndicate.

Staff comments

1. The contributions by each individual member of the syndicate are unknown, therefore AidData has assumed equal contributions from each participating lender (70/3 = 23.333). 2. AidData estimates the interest rate by adding 6-month SIBOR at the time of the commitment (0.75%) plus the applicable margin (0.52%) equal to 1.22%.