Active Commercial AidData Chinese Aid

Bank of China contributes to $120 million bridge facility for ICTSI Capital in October 2006 to fund new acquisitions in the marine container terminal sector

$6.32M USD

Funder	Bank of China (BOC)
Recipient Organization	ICTSI Capital B.V.
Country	Philippines
Start Date	Oct 01, 2006
End Date	Oct 01, 2028
Duration	8,036 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`98692`

Grant Description

Bank of China contributes to $120 million bridge facility for ICTSI Capital in October 2006 In October 2006, ICTSI Capital BV -- a Netherlands-incorporated special purpose vehicle and wholly owned subsidiary of the Philippines' International Container Terminal Services (ICTSI) --signed a $120 million short-term syndicated loan agreement with a group of banks. 19 lenders contributed to the syndication of the loan.

Record ID#98692 captures the estimated contribution of Bank of China.

Joint coordinating arrangers included ABN AMRO Bank N.V., Calyon, HSBC, Standard Chartered Bank, DBS Bank Ltd., KfW, and Sumitomo Mitsui Banking Corp.

Other bank participants in the syndicated included Citigroup., Mizuho Corporate Bank Ltd., Societe Generale Corporate and Investment Banking, PT.

Bank Negara Indonesia (Persero) Tbk., DnB NOR Bank ASA, Mega International Commercial Bank Co., Ltd., Sumitomo Trust & Banking Co., Ltd.

Singapore Branch, The Bank of Tokyo-Mitsubishi, UFJ Ltd., (Manila Branch), Chinatrust (Phils.) Commercial Bank Corp., Moscow Narodny Bank Limited, and the State Bank of India, Osaka Branch.

The $120 million bridge facility had a short-term maturity and it was intended to fund new acquisitions by the ICTSI Group in the marine container terminal sector.

📋 Staff Comments

1. The individual financial contribution of BOC to the syndicated loan is unknown. For the time being, AidData assumes equal financial contributions ($6,315,789.47) by the 19 known members of the loan syndicate. This issue warrants further investigation.

📚 Sources & References

ICTSI to borrow $120M
ICTSI borrowing $120M for international expansion 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.