BOC contributes to $120m USD bridge facility for ICTSI Capital in October 2006
Commitment amount
$ 12833362.63624042
Adjusted commitment amount
$ 12833362.64
Constant 2021 USD
Summary
Funding agency [Type]
Bank of China (BOC) [State-owned Commercial Bank]
Recipient
Philippines
Sector
Business and other services (Code: 250)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
No
Category
Project lifecycle
Description
In October 2006 ICTSI Capital BV signed a $120 million USD short-term syndicated loan agreement. ICTSI Capital BV is a Netherlands-incorporated special purpose vehicle and wholly owned subsidiary of the Philippines' International Container Terminal Services (ICTSI). 19 lenders contributed to the syndication of this loan. This project captures the contribution of the Bank of China. Main financiers included: ABN AMRO Bank N.V., Calyon, HSBC, Standard Chartered Bank, DBS Bank Ltd., KfW, and Sumitomo Mitsui Banking Corp. as joint coordinating arrangers. Other participating banks included Citigroup., Mizuho Corporate Bank Ltd., Societe Generale Corporate and Investment Banking, PT. Bank Negara Indonesia (Persero) Tbk., DnB NOR Bank ASA, Mega International Commercial Bank Co., Ltd., Sumitomo Trust & Banking Co., Ltd. Singapore Branch, The Bank of Tokyo-Mitsubishi, UFJ Ltd., (Manila Branch), Chinatrust (Phils.) Commercial Bank Corp., Moscow Narodny Bank Limited, and the State Bank of India, Osaka Branch. This loan was a bridge facility, had a short-term maturity, and was intended to fund new acquisitions by the ICTSI Group in the marine container terminal sector.
Additional details
1. The individual financial contribution of BOC to the syndicated loan is unknown. For the time being, AidData assumes equal financial contributions ($6,315,789.47) by the19 known members of the loan syndicate. This issue warrants further investigation.
Number of official sources
0
Number of total sources
2
Details
Cofinanced
Yes
Cofinancing agencies [Type]
ABN AMRO Bank [Private Sector]
Calyon [Private Sector]
HSBC [Private Sector]
Standard Chartered Bank PLC [Private Sector]
DBS Bank [Private Sector]
KfW Development Bank (KfW Entwicklungsbank GmbH) [State-owned Bank]
Sumitomo Mitsui Banking Corporation Group (SMBC Group) [Private Sector]
Citigroup [Private Sector]
Mizuho Bank [Private Sector]
Societe Generale [Private Sector]
PT Bank Negara Indonesia (Persero) [State-owned Bank]
DNB Bank ASA [State-owned Bank]
Mega International Commercial Bank Co., Ltd. [Private Sector]
Sumitomo Trust & Banking [Private Sector]
MUFG Bank, Ltd. (Formerly Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU)) [Private Sector]
Chinatrust Commercial Bank [Private Sector]
Moscow Narodny Bank [Private Sector]
State Bank of India (SBI) [State-owned Bank]
Direct receiving agencies [Type]
ICTSI Capital BV [Joint Venture/Special Purpose Vehicle]