Narrative
Full Description
Project narrative
On 31 July, 2018, a group of 31 banks -- including Bank of China, Agricultural Bank of China, and China Construction Bank signed the final documentation for a USD 1.8 billion syndicated loan facility to Wii Pte Ltd, a wholly-owned subsidiary of Wilmar. The facility is guaranteed by Wilmar. Proceeds from the facility will be used to finance general corporate and working capital requirements, alongside refinancing of existing debt. The facility consists of two tranches: a USD 600 million three-year revolving credit facility and a USD 1.2 billion five-year term loan. Other lending details are unknown. BOC's contribution is captured via Record ID#97630. ABC's contribution is captured via Record ID#97631. CCB's contribution is captured via Record ID#97632. Other members of the syndicate include DBS Bank, HSBC, Mizuho Bank, MUFJ Bank, OCBC, UOB, Westpac Banking Corporation, ABN AMRO, Bank of the Philippine Islands, First Abudhabi Bank, and BNP Paribas, in addition to 17 additional, unknown lenders.
Staff comments
1. AidData is unable to ascertain whether BOC, ABC, and CCB contributed to either or both tranches, therefore it has taken the average of the maturities of the two tranches in creating this project record. 2. AidData is unable to ascertain individual contributions to the facility by members of the syndicate, therefore it has assumed equal contributions from each lender (1.8 billion/31 = 58.064 million).