Loading grant details…
ICBC (Asia) contributes to USD 200 million syndicated loan to Asia Pacific Resources International Holdings (APRIL) for unspecified purposes
| Funder | Industrial and Commercial Bank of China (Asia) Limited (ICBC (Asia)) |
|---|---|
| Recipient Organization | Asia Pacific Resources International Holdings (APRIL) |
| Country | Indonesia |
| Start Date | Nov 01, 2007 |
| End Date | Mar 22, 2027 |
| Duration | 7,081 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 98617 |
Grant Description
ICBC contributions to USD 200 million syndicated loan to Asia Pacific Resources International Holdings (APRIL) for unspecified purposes In November 2007, a group of five banks -- including ICBC (Asia) -- signed an agreement to provide a USD 200 million syndicated loan to Asia Pacific Resources International Holdings (APRIL), part of Royal Golden Eagle Group, which is an international conglomerate with common beneficial owners in Indonesia's Sukanto Tanoto and members of his family.
The facility has a maturity of 3.125-years, a grace period of 15 months, and carries a maturity of LIBOR plus 300 basis points. The loan was oversubscribed during syndication.
As of November 23, 2007, the borrower was considering whether to exercise a USD 100 million greenshoe option (to increase the loan to USD 300 million), but it is unclear whether it did so. Proceeds are for unspecified purposes.
Credit Suisse served as mandated lead arranger and bookrunner, with the other four banks: ICBC (Asia), Fortis Bank, Standard Bank, and WestLB joining equal-status arrangers.
Staff Comments
- AidData is unable to ascertain individual contributions made to the facility by each member of the syndicate, therefore equal contributions from each lender have been assumed (200/5).
- For loan and debt rescheduling records with variable interest rates, AidData calculates the all-in interest rate at T0 based on the reference rate (such as LIBOR or EURIBOR) on the loan start date, plus any known margin. Please see the methodology for additional details.
Sources & References
- Loan Week
- November 16-22 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
Asia Pacific Resources International Holdings (APRIL)
Interested in applying for this grant?
Complete our application form to express your interest and we'll guide you through the process.
Apply for This GrantQuick Summary
Related Grants
