ICBC contributes to USD 2.2 billion multi-tranche syndicated lending facility to Trafigura Pte. Ltd. for debt refinancing and general corporate purposes in 2015 (linked to Record ID#98465 and #98466)

Project narrative

On October 1, 2015, a group of 28 banks -- including ICBC, Bank of China, and Agricultural Bank of China -- reached financial close on a USD 2.2 billion multi-tranche syndicated lending facility with Trafigura Pte. Ltd. The facility consists of a 364-day USD 1.32 billion revolving credit facility, a three-year USD 625 million term loan facility, and a 364-day USD 255 million RMB-denominated term loan. Proceeds from the facility will be used for general corporate purposes and to refinance the maturing three-year tranche of Trafigura's 2012 facility (captured via Record ID#98404) and the maturing one-year tranches from the 2014 facility (captured via Record ID#98453, 98454). The interest rate for the 364-day USD-denominated RCF is LIBOR plus 70 basis points, the rate for the three-year term loan is LIBOR plus 110 basis points, and for the RMB-denominated tranche it is CNH HIBOR plus 100 basis points. ICBC's contribution is captured via Record ID#98464. BOC's contribution is captured via Record ID#98465. ABC's contribution is captured via Record ID#98466. A total of 28 banks participated in the syndicate. Serving as joint bookrunners and mandated lead arrangers were ANZ, Bank of China, CTBC Bank, DBS, First Gulf Bank, ICBC, OCBC, Sumitomo Mitsui Financial Group and UOB. Syndication saw Agricultural Bank of China, National Australia Bank, Standard Chartered Bank and Westpac Banking Corp join as mandated lead arrangers. Bank of Baroda, Bank of Tokyo-Misuibishi UFJ, Banque Misr SAE, Commonwealth Bank of Australia, KBC Bank, KDB, Land Bank of Taiwan, Maybank, Mega International Commercial Bank, Mizrahi Tefahot bank, Mizuho Bank, National Bank of Abu Dhabi PJSC, Sumitomo Mitsui Trust Bank, Taiwan Cooperative Bank and Union De Banques Arabes et Francaises came in as arrangers.