Bank of China contributes $16 million to $250 million syndicated revolver loan for ICTSI Capital in Dec. 2007 for refinancing, acquisition, and working capital purposes (Linked to Project ID#98694)

On December 5, 2007 ICTSI Capital BV signed an agreement for a $250 million USD syndicated revolver loan (line of credit). ICTSI Capital BV is a Netherlands-incorporated special purpose vehicle and wholly owned subsidiary of the Philippines' International Container Terminal Services (ICTSI). Bank of China served as a lead arranger and contributed $16 million USD. This project captures the contribution of the Bank of China. Other financiers of the loan included Calyon, Citi and HSBC as original mandated leads contributing $17 million each. ANZ, Citic Ka Wah Bank (contribution captured in #98694), First Commercial Bank, Mega International Commercial Bank, Mizuho Corporate Bank and Sumitomo Mitsui Banking Corp, each contributed $16 million. DnB Nor Bank and Sumitomo Mitsui Trust & Banking provided $14.5 million each. Bank Negara Indonesia, Bank of Tokyo Mitsubishi UFJ, Maybank and Societe Generale each put up $10 million. Cathay United Bank, Chinatrust Commercial Bank and Taiwan Business Bank all contributed $5 million. Shanghai Commercial & Savings Bank gave $3 million. This loan carried a maturity period of three-year and an interest rate of LIBOR plus 80 basis points. ICTSI issued a guarantee for this loan. Proceeds were to be used to refinance various loans, fund new acquisitions, and finance the group's general working capital requirements.

Additional details

1. To get the interest rate AidData takes the average 6 month LIBOR from December 2007 (4.825%) and combines it with the contracted 80 basis points (0.8%) to get a rate of 5.625%.

Number of official sources

0

Number of total sources

2