ICBC (Asia) contributes to USD 200 million syndicated loan to Asia Pacific Resources International Holdings (APRIL) for unspecified purposes

In November 2007, a group of five banks -- including ICBC (Asia) -- signed an agreement to provide a USD 200 million syndicated loan to Asia Pacific Resources International Holdings (APRIL), part of Royal Golden Eagle Group, which is an international conglomerate with common beneficial owners in Indonesia's Sukanto Tanoto and members of his family. The facility has a maturity of 3.125 years, a grace period of 15 months, and carries a maturity of LIBOR plus 300 basis points. The loan was oversubscribed during syndication. As of November 23, 2007, the borrower was considering whether to exercise a USD 100 million greenshoe option (to increase the loan to USD 300 million), but it is unclear whether it did so. Proceeds are for unspecified purposes. Credit Suisse served as mandated lead arranger and bookrunner, with the other four banks: ICBC (Asia), Fortis Bank, Standard Bank, and WestLB joining equal-status arrangers.

Additional details

1. AidData is unable to ascertain individual contributions made to the facility by each member of the syndicate, therefore equal contributions from each lender have been assumed (200/5). 2. AidData has calculated the interest rate for this loan using the six-month LIBOR rate from November 2007 (4.832%). For more information, see: https://www.global-rates.com/en/interest-rates/libor/american-dollar/2007.aspx

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