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ICBC (Asia) contributes $5 million USD to $150 million USD syndicated loan to SM Prime Holdings in the Philippines in September 2004 (Linked to Record ID#98243 and Record ID#98245)
| Funder | Industrial and Commercial Bank of China (Asia) Limited (ICBC (Asia)) |
|---|---|
| Recipient Organization | SM Prime Holdings, Inc. |
| Country | Philippines |
| Start Date | Sep 24, 2004 |
| End Date | Jan 08, 2032 |
| Duration | 9,967 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 98244 |
Grant Description
BOA and ICBC contribution to USD to $150 million USD syndicated loan to SM Prime Holdings in the Philippines in September 2004 On September 24, 2004, a $150 million syndicated term loan for SM Prime Holdings in the Philippines was signed.
The proceeds of the loan will be used for unspecified purposes.
Mandated arrangers in the syndicate include ABN Amro contributing $22 million, ING Bank contributing $10 million, and Standard Chartered Bank contributing $20 million.
Arrangers include HVB Corporates & Markets and International Commercial Bank of China (Singapore), lending $16 million each, and Bank of China and Oversea-Chinese Banking Corporation contributing $14 million each.
KBC Bank (Manila) joined as a co-arranger with an $8 million commitment while lead manager Taiwan Cooperative Bank contributed $7 million. The managers of the loan are Chiao Tung Bank, ICBC (Asia), NordLB (Singapore) and Sumitomo Mitsui Banking Corporation. Each contributed $5 million. Cathay United Bank also joined as a manager and pledged $3 million.
Bank of China’s $14 million USD contribution to the syndicated loan is captured in Record ID#98243. ICBC Asia's $5 million USD contribution is captured in Record ID#98244. ICBC Singapore’s $16 million USD contribution is captured in Record ID#98245.
Staff Comments
1. This loan carried a 3.788% interest rate (AidData calculated the interest rate as follows: 2.078% [average 6-month LIBOR in September 2004] + 1.71% [171 basis points] = 3.788%).
Sources & References
- Asian loans roundup
- Asia loans flow Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
SM Prime Holdings, Inc.
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