Bank of China contributes to $120 million bridge facility for ICTSI Capital in October 2006 to fund new acquisitions in the marine container terminal sector

Project narrative

In October 2006, ICTSI Capital BV -- a Netherlands-incorporated special purpose vehicle and wholly owned subsidiary of the Philippines' International Container Terminal Services (ICTSI) --signed a $120 million short-term syndicated loan agreement with a group of banks. 19 lenders contributed to the syndication of the loan. Record ID#98692 captures the estimated contribution of Bank of China. Joint coordinating arrangers included ABN AMRO Bank N.V., Calyon, HSBC, Standard Chartered Bank, DBS Bank Ltd., KfW, and Sumitomo Mitsui Banking Corp. Other bank participants in the syndicated 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. The $120 million bridge facility had a short-term maturity and it was intended to fund new acquisitions by the ICTSI Group in the marine container terminal sector.