Bank of Communications contributes $33 million SGD to $400 million SGD syndicated loan facility to Neptune Orient Lines and APL (Bermuda) for general corporate purposes

Project narrative

On August 10, 2006, a syndicate of 19 banks — including Bank of Communications and the Export-Import Bank of China — entered into a $400 million SGD syndicated loan facility to Neptune Orient Lines, Ltd. — a Singapore-incorporated shipping line wholly owned by Temasek — and APL (Bermuda) Ltd. — a Bermuda-incorporated holding company and subsidiary of Neptune — for general corporate purposes. The facility carried a seven-year maturity. Bank of Communications contributed $33 million SGD to the facility, captured via Record ID#97737. China Eximbank contributed $3.5 million SGD to the facility, captured via Record ID#97738. Other members of the syndicate included Standard Chartered as Mandated Lead Arranger ($50 million SGD). Lead Arrangers included SMBC ($37 million SGD), Sumitomo Trust and Banking ($35 million SGD), and BoComm, Bank of Tokyo-Mitsubishi UFJ, DnB NOR Bank, and Mizuho Corporate Bank ($33 million SGD each). Other lead arrangers include Calyon ($30 million SGD), BayernLB ($25 million SGD), DZ Bank ($22 million SGD), and Fortis Bank ($22 million SGD). Lead managers included Taiwan Cooperative Bank ($10 million SGD), with Banca di Roma, Bank of Taiwan, Cathay United Bank, Chang Hwa Commercial Bank, and Maybank ($6 million SGD each). Shanghai Commercial and Saving Bank provided $3.5 million SGD.