Narrative
Full Description
Project narrative
On October 12, 2011, a syndicate of banks — including ICBC (London) plc and the Singapore Branch of Agricultural Bank of China — reached financial close on a $875 million USD syndicated dual-tranche lending facility with Trafigura Beheer and Trafigura Pte. Ltd. The facility carried two tranches: a 364-day revolving credit facility with two 364-day extension options, and a three-year term loan. The size of each tranche is unknown. The facility carried a margin of LIBOR plus 115 basis points. ICBC's contribution was captured via Record ID#97993. Agricultural Bank of China's contribution was captured via Record ID#97994. Original mandated lead arrangers and bookrunners are ANZ Group, DBS Bank, Standard Chartered, National Australia Bank, OCBC, and Sumitomo Mitsui Banking Corporation. Mandated lead arrangers are UOB, Westpac, ICBC, Agricultural Bank of China, and Commonwealth Bank of Australia. Bank of Tokyo - Mitsubishi UFJ served as lead arranger. Arrangers were Chinatrust Commercial Bank, Banca UBAE, KBC Bank, Bank of East Asia, UBAF, Zenith Bank, PT Bank Mandiri (Persero) TBK, and Hwatai Bank.
Staff comments
1. AidData has calculated the all-in interest rate using the 6-month LIBOR for October 2011 (0.595%). For more information, see: https://www.global-rates.com/en/interest-rates/libor/american-dollar/2011.aspx 2. AidData is unable to ascertain individual contributions made by each member of the syndicate, therefore equal contributions from each lender have been assumed (875/20). 3. Information on which tranche(s) the two Chinese banks contributed to is unknown, therefore the average maturity across the two tranches has been used in the creation of this project record.