China CITIC Bank International contributes USD 10 million to USD 1.075 billion dual-tranche syndicated lending facility to Trafigura Beheer for debt refinancing and working capital purposes in 2010 (linked to Record ID #s #97790, #97791)

Project narrative

On October 22, 2010 a group of banks -- including Agricultural Bank of China, ICBC, and CITIC Bank International -- reached financial close on a USD 1.075 billion dual-tranche syndicated lending facility with Trafigura Beheer B.V. The facility consists of two tranches: a USD 846 million 364-day revolving credit facility and a USD 229 million three-year term loan, with margins of 140 basis points and 205 basis points over LIBOR, respectively. The RCF offers two, one-year extension options. The facility is guaranteed by unspecified Trafigura subsidiaries. Proceeds will be used to refinance a RCF signed in 2009 (captured via Record ID#97988, #97989) and for working capital purposes. ABC's contribution is captured via Record ID#97790. ICBC's contribution is captured via Record ID#97791. CITIC's contribution is captured via Record ID#97792. DBS, National Australia Bank, Standard Chartered, and Sumitomo Mitsui Banking Corp served as bookrunners, contributing USD 100 million each, with ANZ, ICBC, OCBC, UOB, and Westpac contributing USD 75 million each. Agricultural Bank of China contributed USD 60 million. Mandated lead arrangers included State Bank of India, contributing USD 35 million, while Banco do Brasil and Commonwealth Bank of Australia each contributed USD 30 million. In general syndication, lead arrangers Axis Bank, Bank of Tokyo-Mitsubishi UFJ, and Mizuho Corporate Bank contributed USD 25 million each, with arranger Bank of Baroda contributing USD 15 million. Arrangers Bank of East Asia, Chinatrust Commercial Bank, CITIC Bank International, and UBAF contributed USD 10 million each. Bank Negara Indonesia (Singapore) and Bank Negara Indonesia (Tokyo) contributed a combined USD 10 million. Bank Mandiri contributed USD 5 million.