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Overview

Tai Fung Bank contributes $10 million AUD to a $260 million AUD syndicated loan for the CKI Australia 2012 Refinancing Project

Commitments (Constant USD, 2023)$11,223,352
Commitment Year•2012Country of Activity•AustraliaDirect Recipient Country of Incorporation•AustraliaOverseas Jurisdiction•Macau (China)Sector•Business And Other ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Aug 2, 2012
Last repayment (originally scheduled)
Aug 2, 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% Chinese ownership

Funding agencies

State-owned Banks

  • Tai Fung Bank Limited

Cofinancing agencies

Private Sector

  • Australia and New Zealand Banking Group (ANZ)
  • Chang Hwa Commercial Bank Limited
  • Mizuho Bank, Ltd.

Receiving agencies

Joint Venture/Special Purpose Vehicles

  • Cheung Kong Infrastructure Finance (Australia) Pty Limited (CKI Australia)

Loan description

Tai Fung Bank contributions a $260 million AUD syndicated loan for the CKI Australia 2012 Refinancing Project

Interest type•UnknownMaturity•3 years

Narrative

Full Description

Project narrative

Between July 27 and August 2, 2012, a syndicate of four banks — including Tai Fung Bank Limited — entered into a $260 million AUD syndicated term loan agreement with Cheung Kong Infrastructure Finance (Australia) Pty Limited (CKI Australia) — an Australia-incorporated special purpose vehicle (SPV) wholly owned by Hong Kong-based Cheung Kong Infrastructure Holdings Limited (CKI) — for the CKI Australia 2012 Refinancing Project. This loan carried a maturity period of three years. The proceeds of this loan were to be used by the borrower to refinance existing indebtedness. Tai Fung Bank contributed $10 million AUD. In addition to Tai Fung, the following lenders contributed the respective amounts: Mizuho Bank ($185 million AUD), Australia and New Zealand Banking Group (ANZ) ($60 million AUD), and Chang Hwa Commercial Bank Limited ($5 million AUD). ANZ and Mizuho served as the bookrunners and mandated lead arrangers. Tai Fung and Chang Hwa served as arrangers.