Bank of China contributes USD 9 million to syndicated term loan to YTL Utilities Finance Two for unspecified purposes

On November 4, 2004, a group of banks -- including Bank of China -- signed an agreement to provide a USD 250 million syndicated term loan to YTL Utilities Finance 2 Limited (YTLUF2), a Cayman Islands-incorporated majority-owned subsidiary of Malaysian electric power company YTL Corporation Berhad. Bank of China contributed USD 9 million to the facility. The facility carries a maturity of three years and an interest rate of LIBOR plus 47.5 basis points. The loan is unsecured and guaranteed by YTL Power International Berhad (YTLPI). The loan was novated by YTLUF2 to YTLPI on October 7, 2005, of which USD 80 million was prepaid in 2006. Proceeds from the facility will be used for unspecified purposes. Other members of the syndicate and their contributions include mandated arranger Dresdner Kleinwort (USD 25 million), DBS Bank (USD 32 million), BNP Paribas and SMBC (USD 30 million each), Royal Bank of Scotland (USD 28.5 million), Mizuho Corporate Bank (USD 25 million), Maybank and OCBC (USD 20 million each), Bank of East Asia and SMTB (USD 9 million each).

Additional details

1. AidData has calculated the interest rate for this loan using the 6-month LIBOR from November 2004 (2.5%). For more information, see: https://www.global-rates.com/en/interest-rates/libor/american-dollar/2004.aspx

Number of official sources

1

Number of total sources

2