ICBC (Singapore) contributes $16 million USD to $150 million USD syndicated loan to SM Prime Holdings in the Philippines in September 2004 (Linked to Record ID#98243 and Record ID#98244)

Project narrative

On September 24, 2004, a $150 million syndicated term loan for SM Prime Holdings in the Philippines was signed. This dual-tranche loan carried a five year maturity period and an interest rate of 3.788% (average 6-month LIBOR in September 2004+ 171 basis points = 2.078 + 1.71% = 3.788%). The proceeds of the loan will be used for unspecified purposes. Mandated arrangers in the syndicate include ABN Amro contributing $22 million, ING Bank contributing $10 million, and Standard Chartered Bank contributing $20 million. Arrangers include HVB Corporates & Markets and International Commercial Bank of China (Singapore), lending $16 million each, and Bank of China and Oversea-Chinese Banking Corporation contributing $14 million each. KBC Bank (Manila) joined as a co-arranger with an $8 million commitment while lead manager Taiwan Cooperative Bank contributed $7 million. The managers of the loan are Chiao Tung Bank, ICBC (Asia), NordLB (Singapore) and Sumitomo Mitsui Banking Corporation. Each contributed $5 million. Cathay United Bank also joined as a manager and pledged $3 million. Bank of China’s $14 million USD contribution to the syndicated loan is captured in Record ID#98243. ICBC’s $5 million USD contribution is captured in Record ID#98244. ICBC Singapore’s $16 million USD contribution is captured in Record ID#98245.