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Overview

Bank of China provides $75 million USD term loan to Puma International Financing for general corporate and working capital purposes

Commitments (Constant USD, 2023)$78,464,879
Commitment Year•2015Country of Activity•SingaporeDirect Recipient Country of Incorporation•LuxembourgOverseas Jurisdiction•LuxembourgSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Mar 17, 2015
First repayment (originally scheduled)
Jun 15, 2016
Last repayment (originally scheduled)
Mar 15, 2020

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Commercial Banks

  • Bank of China (BOC)

Receiving agencies

Private Sector

  • Puma International Financing S.A.

Guarantors

Private Sector

  • Puma Energy Holdings Pte. Ltd.

Loan description

Bank of China provides $75 million USD term loan to Puma International Financing for general corporate and working capital purposes

Grace period•1.25 yearsInterest type•Variable Interest RateMaturity•5 years

Narrative

Full Description

Project narrative

On March 17, 2015, Bank of China (Luxembourg Branch) entered into an agreement to provide a $75 million USD term loan to Puma International Financing S.A., the Luxembourg-incorporated indirect wholly-owned subsidiary of Singapore's Puma Energy Holdings Pte. Ltd. Proceeds from the facility were to be used for Puma Energy's general corporate and working capital needs. The facility was repayable in quarterly installments beginning 15 months (1.25 years) after the utilization date, with the final repayment due 60 months (five years) after the utilization date. The loan carried an interest rate of LIBOR plus 265 basis points. The facility was guaranteed by the parent company, Puma Energy Holdings Pte. Ltd.