ICBC contributes £73.91 million GBP to the £637.60 million GBP term loan tranche of a £792.60 million GBP syndicated loan for the AGS Airports 2017 Refinancing Project (Linked to Record ID#98934 and #98935)

Project narrative

On February 21, 2017, financial close was reached on a deal in which a syndicate of at least eight lenders — including the Industrial and Commercial Bank of China (ICBC) — entered into a £792.60 million GBP ($986.29 million USD) syndicated loan agreement with AGS Airports Limited — a special purpose vehicle (SPV) jointly owned by Ferrovial S.A. (50% equity stake) and Macquarie European Infrastructure Fund 4 (50% equity stake) — for the AGS Airports 2017 Refinancing Project. This loan consisted of three tranches: a £637.60 million GBP ($793.41 million USD) term loan tranche with a maturity period of five years and a final maturity date of February 21, 2022, a £145.00 million GBP ($180.43 million USD) credit facility tranche with a maturity period of five years and a final maturity date of February 21, 2022, and a £10.00 million GBP ($12.44 million USD) revolver tranche with a maturity period of five years and a final maturity date of February 21, 2022. The proceeds were to be used to refinance a portfolio of three non-regulated British airports: the Aberdeen Airport in Scotland, the Glasgow Airport in Scotland, and the Southampton Airport in England. ICBC contributed £73.91 million GBP ($91.97 million USD) to the £637.60 million GBP term loan tranche, as captured by Record ID#98933. In addition to ICBC, the following lenders contributed the respective amounts to the loan tranche: Commonwealth Bank of Australia (CBA) (£77.62 million GBP; $96.59 million USD), CaixaBank S.A. (£77.62 million GBP), Crédit Agricole Group (£59.11 million GBP; $73.55 million USD), National Australia Bank Limited (NAB) (£73.91 million GBP), the Bank of Nova Scotia (Scotiabank) (£77.62 million GBP), Royal Bank of Scotland (RBS) (£147.82 million GBP; $183.94 million USD), and the Development Bank of Japan (DBJ) (£50.00 million GBP; $62.22 million USD). ICBC contributed £18.23 million GBP ($22.68 million USD) to the £145.00 million GBP credit facility tranche, as captured by Record ID#98934. In addition to ICBC, the following lenders contributed the respective amounts to the loan tranche: CBA (£19.07 million GBP; $23.73 million USD), CaixaBank (£19.07 million GBP), Crédit Agricole (£14.86 million GBP; $18.49 million USD), NAB (£18.23 million GBP), Scotiabank (£19.07 million GBP), and RBS (£36.46 million GBP; $45.37 million USD). ICBC contributed £1.26 million GBP ($1.56 million USD) to the £10.00 million GBP revolver tranche, as captured by Record ID#98935. In addition to ICBC, the following lenders contributed the respective amounts to the loan tranche: CBA (£1.31 million GBP; $1.64 million USD), CaixaBank (£1.31 million GBP), Crédit Agricole (£1.02 million GBP; $1.28 million USD), NAB (£1.26 million GBP), Scotiabank (£1.31 million GBP), and RBS (£2.51 million GBP; $3.13 million USD).