Bank of China contributes JYP 350 million to a dual currency syndicated loan to Total Access Communication in 2006 (Linked to Record ID#98415)

Project narrative

On September 26, 2006, a dual currency syndicated loan to Total Access Communication (DTAC) was signed. The loan is split between two five-year tranches of THB 2 billion and JPY 12 billion. The JYP tranche offered an interest rate of 1.096% plus fees of 0.12% at the top level of syndication. The local currency tranche (THB) was funded by Bank of Tokyo-Mitsubishi UFJ, Mizuho Corporate Bank, and Standard Chartered, with the latter providing THB 480 million and the two Japanese banks providing THB 760 million each. A total of 10 lenders committed to the JYP tranche. Mizuho contributed JYP 2.13 billion, while Sumitomo Trust & Banking contributed JYP 2.1 billion as a lead arranger. BayernLB contributed JYP 1.7 billion at the same level. Cathay United Bank, DZ Bank, Mega International Commercial Bank, and Nordea Bank contributed JYP 1.095 billion. Standard Chartered contributed JYP 840 million, while Export-Import Bank of China contributed JYP 500 million (Record ID#98415) and Bank of China contributed JYP 350 million (Record ID#98416). This loan was signed after the coup in Thailand; the loan signing was delayed a day due to the coup but all lenders committed their contributions. TPI needed to raise funds to repay obligations under its debt restructuring program.