ICBC Asia contributes $14 million to $350 million syndicated loan for Reliance Industries in March 2005 for its capital expenditures

ICBC Asia contribution to USD 350 million syndicated loan for Reliance Industries in March 2005 for its capital expenditures On March 19, 2005, Reliance Industries signed a $350 million, five-year multi-currency loan agreement with a syndicate of 34 banks.

Mandated lead arrangers ABN Amro, Bank of Tokyo-Mitsubishi, Calyon and Standard Chartered Bank committed $20.75 million each, while DBS Bank and ING Bank contributed $15 million apiece.

Lead arrangers BNP Paribas, Chinatrust Commercial Bank, ICBC Asia, International Commercial Bank of China, Mizuho Financial Group, NordLB, Rabobank International, Sumitomo Mitsui Banking Corp and UFJ Bank each contributed $14 million.

Arrangers Norinchukin Bank contributed $11 million, RHB Bank contributed $10 million, and Sumitomo Trust & Banking and Taiwan Business Bank contributed $8 million each.

Lead managers Hua Nan Commercial Bank contributed $7 million, while Bank of Taiwan, E.Sun Commercial Bank, First Commercial Bank, Land Bank of Taiwan and Shanghai Commercial & Savings Bank each contributed $6 million and Taiwan Cooperative Bank contributed $5 million. Senior managers included Canara Bank, Farmers Bank of China and Maybank and contributed $5 million apiece.

Bank of East Asia, Chang Hwa Commercial Bank, Commercial Bank of Qatar and UniCredito Italiano contributed $3.5 million each. Bumiputra-Commerce Bank contributed $3 million. The borrower was expected to use the proceeds of the loan to finance its capital expenditures.