Agricultural Bank of China contributes $27.78 million to the $1.25 billion USD tranche of a 2016 $1.88 billion USD revolving credit facility to ED&F Man for unspecified purposes (Linked to Record ID#99754)

Project narrative

On June 23, 2016, a syndicate of 45 banks — including the Agricultural Bank of China (ABC) (#99753) and the Industrial and Commercial Bank of China (ICBC) — entered into a $1.88 billion USD revolving credit facility (RCF) agreement with E D & F Man Holdings Limited (ED&F Man) — a United Kingdom-based agricultural commodities broker firm — for unspecified purposes. This loan was divided into three tranches: a $1.25 billion USD tranche with a maturity period of two years and an interest rate of contemporary LIBOR plus a margin of 150 basis points (bps), a $440 million USD tranche with a maturity period of five years and an interest rate based on a floating rate plus a margin of 235 bps, and a $190 million USD brokerage facility fee tranche. 45 total institutions participated in the lending syndicate. Of these, 31 are currently known. All institutions, including ABC and ICBC, contributed $27.78 million USD to the $1.25 billion USD tranche. Record ID#99753 captures ABC's contribution. Record ID#99754 captures ICBC's contribution. Barclays, First Gulf Bank (FGB), Zurcher Kantonalbank, Australia and New Zealand Banking Group (ANZ), Banco do Brasil, Bank Leumi, Citibank, DBS Bank, HSBC, ING Bank, JP Morgan, Lloyds Bank, Natixis, and Nedbank Capital acted as mandated lead arrangers (MLAs). ABN AMRO acted as coordination MLA. Rabobank acted as facility agent. ABC, Arab Banking Corporation (Bank ABC), Bank of Taiwan, Credit Agricole, Deutsce Bank, DZ Bank, and Emirates NBD acted as co-arrangers. ICBC, KfW IPEX-Bank, Mizuho Bank, Bank of Nova Scotia (Scotiabank), State Bank of India (SBI), Sumitomo Mitsui Banking Corporation (SMBC), and Landesbank Hessen-Thüringen (Helaba) acted as lenders or had currently unknown roles.