Bank of China contributes to a $965 million USD syndicated loan to Pertamina for refinancing and general corporate purposes

Between January 25 and 31, 2013, a syndicate of 29 lenders — including the Bank of China (BOC) — entered into a $965 million USD syndicated loan to PT Pertamina (Persero) — an Indonesian state-owned oil and natural gas corporation — for refinancing and general corporate purposes. This loan was divided into five tranches: a $246 million USD tranche, a $219 million USD tranche, a $137 million USD tranche, a $70 million USD tranche, and a $293 million USD. This loan carried a maturity period of five years. The proceeds were to be used by the borrower to refinance an existing facility signed in June 2010 and for general corporate purposes. In addition to BOC, the following 29 lenders are known to have contributed to the loan syndicate: Australia and New Zealand Banking Group (ANZ), the Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU), DBS Bank, HSBC Bank, Mizuho Bank, Oversea-Chinese Banking Corporation, Limited (OCBC Bank), Royal Bank of Scotland (RBS), Sumitomo Mitsui Banking Corporation (SMBC), CIMB Bank Berhad, Commonwealth Bank of Australia (CBA), PT Bank Panin, Qatar National Bank (QNB), Bank of East Asia Limited (BEA), Bank of Taiwan, Chang Hwa Commercial Bank, First Commercial Bank, Land Bank of Taiwan (LBOT), Mega International Commercial Bank, Société Générale S.A. (SocGen), Taipei Fubon Commercial Bank, Taiwan Cooperative Bank, Arab Bank, Chinatrust Commercial Bank, E.Sun Commercial Bank, First Gulf Bank (FGB), Hua Nan Commercial Bank (HNCB), The Shanghai Commercial & Savings Bank (SCSB), and Taiwan Business Bank (TBB).. Mizuho Corporate Bank was allocated the largest chunk of the loan at $125m, followed by Bank of Tokyo-Mitsubishi UFJ with $100m and Sumitomo Mitsui Banking Corp with $75m. Australia and New Zealand Bank and Indonesia’s Panin Bank were allotted $50m each. DBS and OCBC Bank each took tickets of $52m, HSBC was allocated $45m, and both China Merchants Bank and Royal Bank of Scotland got $35m. The Singaporean branches of CIMB and Qatar National Bank were allocated $33m each, and Mega International Commercial Bank received $30m. The following banks were allocated $20m each: Bank of China, Bank of East Asia, Bank of Taiwan, Chang Hwa Bank, First Commercial Bank, Land Bank of Taiwan, Société Générale, Taipei Fubon Commercial Bank and Taiwan Cooperative Bank. Allotments of $10m each were made to seven different banks: Arab Bank, Chinatrust Commercial Bank, E.Sun Commercial Bank, First Gulf Bank, Hua Nan Bank, Shanghai Commercial Bank and Taiwan Business Bank. ANZ, BTMU, DBS, HSBC, Mizuho, OCBC Bank, RBS, and SMBC served as bookrunners and mandated lead arrangers. CIMB, CBA, Bank Panin, QNB joined in syndication as lead arrangers. BOC, BEA, Bank of Taiwan, Chang Hwa, First Commercial, LBOT, Mega International, SocGen, Taipei Fubon, and Taiwan Cooperative Bank joined in syndication as arrangers. A further seven other banks joined in syndication at a lower tier.

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