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 Record ID#98694)

Project narrative

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.