Bank of China contributes to $1.6 billion USD dual-tranche syndicated loan facility to Trafigura for unspecified purposes in 2008

Project narrative

In March 2008, a group of banks -- including Bank of China -- signed a USD 1.6 billion dual-tranche syndicated loan facility with Trafigura. The facility consists of two tranches: a USD 575 million tranche with a tenor of one year, with two one-year extension options and a six-month term-out option, carrying a margin of 65 basis points, and a USD 1.025 billion revolving credit facility with a tenor of three years, carrying a margin of 85 basis points. Proceeds from the facility are to be used for unspecified purposes. The USD 575 million tranche was later refinanced in 2009 by a group of banks that does not include Bank of China. BNP Paribas, Fortis Bank, ING, and Royal Bank of Scotland served as bookrunners. Bank of China, Barclays Capital, Calyon, Credit Suisse, DBS Bank, HSH Nordbank, HVB, Lloyds TSB, Natixis, SocGen, and Standard Chartered served as mandated lead arrangers. An additional 12 unknown lenders joined in syndication.