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Overview

China Construction Bank contributes USD 71 million to USD 1.76 billion tranche of USD 2.49 billion syndicated term loan facility to Wii Pte Ltd for debt refinancing, general corporate purposes, and working capital requirements (linked to Record ID#97628)

Commitments (Constant USD, 2023)$72,814,276
Commitment Year2014Country of ActivitySingaporeDirect Recipient Country of IncorporationSingaporeSectorAgriculture, Forestry, FishingFlow TypeLoan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Mar 1, 2014
Last repayment (originally scheduled)
Feb 28, 2019

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

  • China Construction Bank Corporation (CCB)

Cofinancing agencies

Private Sector

  • ABN AMRO Bank NV
  • Apple Financial Holdings
  • Bank of the Philippine Islands
  • BNP Paribas S.A.
  • Commonwealth Bank of Australia (CBA) (CommBank)
  • Coöperatieve Rabobank U.A. (Rabobank)
  • Crédit Agricole Corporate and Investment Bank (CACIB) (Crédit Agricole CIB) (Formerly Calyon) (Formerly Crédit Agricole Indosuez (CAI))
  • DBS Bank Ltd.
  • DZ Bank AG
  • Fifth Third Bank
  • Groupe BPCE
  • Hua Nan Commercial Bank, Ltd. (HNCB)
  • KBC Group N.V.
  • Malayan Banking Berhad (Maybank)
  • Mega Financial Holding Co., Ltd. (Mega Holdings)
  • Metropolitan Bank & Trust Company (Metrobank)
  • Mitsubishi UFJ Financial Group
  • Mizuho Financial Group (MHFG)
  • Oversea-Chinese Banking Corporation, Limited (OCBC Bank)
  • RHB Bank Berhad
  • Sumitomo Mitsui Financial Group (SMFG)
  • Westpac Banking Corporation

State-owned Banks

  • Arab Banking Corporation (Bank ABC)
  • Land Bank of Taiwan Co., Ltd. (LBOT)
  • National Bank of Abu Dhabi PJSC (NBA)
  • PT Bank Rakyat Indonesia (Persero) Tbk
  • Taiwan Cooperative Bank
  • Taiwan Financial Holdings Co., Ltd.

Receiving agencies

Private Sector

  • Wii Pte Ltd

Loan description

China Construction Bank contributions to USD 2.49 billion syndicated term loan facility for Wii Pte Ltd in 2014

Interest rate (t₀)2.1105%Interest typeVariable Interest RateLoan tenor6-month rateMaturity5 years

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