Bank of China contributes $7.37 million USD to a $105.4 million USD term loan tranche of a $200 million USD syndicated loan for the 350 MW Bang Bo Combined Cycle Power Plant Refinancing Project

BOC and China Construction Bank contributions to USD 200 million dual-tranche syndicated loan for 350 MW Bang Bo Combined Cycle Power Plant Refinancing Project On December 19, 2004, financial close was reached on a deal in which a syndicate of six banks — the Bank of China (BOC), China Construction Bank Corporation (CCB), Citibank, KBC Finance, Bangkok Bank, and Sumitomo Mitsui Banking Corporation (SMBC) — entered into a $200 million USD-equivalent syndicated loan with Eastern Power and Electric Company Limited (EPEC) — a Thailand-incorporated special purpose vehicle (SPV) and independent power producer (IPP) owned by Marubeni Corporation (28.0% equity stake) and Total Gas & Power Thailand S.A.S., a subsidiary of Total S.A. (28.0% equity stake), China Development Industrial Bank (12.0% equity stake), and GMS Power Public Company Limited (32.0% equity stake) — for the 350 MW Bang Bo Combined Cycle Power Plant Refinancing Project.

BOC contributed $7.37 million USD (Record ID#104753), CCB contributed $60.07 million USD (Record ID#104754), Citibank contributed $5.27 million USD, KBC Finance contributed $29.51 million USD, and SMBC contributed $3.18 million USD to the term loan tranche, while Bangkok contributed to the revolver tranche.

The proceeds were to be used by the borrower to refinance a $180 million USD 15-year loan accrued in February 2000 associated with EPEC operated power plant, the 350 MW Bang Bo Combined Cycle Power Plant, a natural gas-fired power plant located in Khlong Dan, Samut Prakan, approximately 50 kilometers to the east of Bangkok, operational since March 2003.