Narrative
Full Description
Project narrative
In March 2014, a group of banks – including China Construction Bank – contributed to a USD 2.490 billion syndicated term loan facility to Wii Pte Ltd, a wholly-owned subsidiary of Wilmar International. The proceeds are to be used for general corporate purposes, working capital requirements, and to refinance existing debt. The facility is divided into two tranches: A USD 730 million, three-year tranche at an interest rate of LIBOR plus 134 basis points, which is scheduled to mature in March 2017. China Construction Bank contributed USD 29 million (captured via Record ID#xxxxx). Other lenders contributing to this tranche included Sumitomo Mitsui Financial, BNP Paribas, Maybank Group, Mizuho Financial, OCBC, Rabobank, Westpac Banking Corporation, Mitsubishi UFJ Financial, Crédit Agricole, National Bank of Abu Dhabi, ABN Amro, Groupe BPCE, Fifth Third Bancorp, Commonwealth Bank of Australia, Arab Banking Corporation, Bank of the Philippine Islands, KBC Group, Bank Rakyat Indonesia, RHB Banking Group, Apple Financial Holdings, DBS, DZ Bank, Taiwan Financial Holding, Hua Nan Financial Holdings, Land Bank of Taiwan, Mega Financial Holding Company, Metropolitan Bank & Trust, and Taiwan Cooperative Financial Holdings. A USD 1.76 billion, five-year tranche at an interest rate of LIBOR plus 178 basis points, whichis scheduled to mature in March 2019. China Construction Bank contributed USD 71 million (captured via Record ID#xxxxx). Other lenders contributing to this tranche included Sumitomo Mitsui Financial, BNP Paribas, Maybank Group, Mizuho Financial, OCBC, Rabobank, Westpac Banking Corporation, Mitsubishi UFJ Financial, Crédit Agricole, National Bank of Abu Dhabi, ABN Amro, Groupe BPCE, Fifth Third Bancorp, Commonwealth Bank of Australia, Arab Banking Corporation, Bank of the Philippine Islands, KBC Group, Bank Rakyat Indonesia, RHB Banking Group, Apple Financial Holdings, DBS, DZ Bank, Taiwan Financial Holding, Hua Nan Financial Holdings, Land Bank of Taiwan, Mega Financial Holding Company, Metropolitan Bank & Trust, Taiwan Cooperative Financial Holdings, and Taiwan Financial Holding.
Staff comments
1. AidData has calculated the interest rate for both tranches using the 6-month LIBOR for March 2014 (0.331%), adding 134 basis points to tranche one and 178 basis points to tranche two for interest rates of 1.671% and 2.111%, respectively. For more information, see here: https://www.global-rates.com/en/interest-rates/libor/american-dollar/2014.aspx