Bank of China contributes ¥4.179 billion toward ¥59.7 billion JPY syndicated term loan to Vodafone Essar

Bank of China contribution to JPY 59.7 billion syndicated term loan to Vodafone Essar On or around December 12, 2007, Bank of China committed ¥4.179 billion JPY towards a ¥59.7 billion JPY syndicated term loan for India's Vodafone Essar. This loan carried a maturity period of five years and an interest of LIBOR plus 53 basis points.

The loan was launched on November 16, 2007 via mandated leads arrangers Bank of Tokyo-Mitsubishi UFJ, Commerzbank, Fortis, ING, and Mizuho, who all pledged ¥7,2237bn each. Lead arranger and sole book-runner BNP Paribas lent ¥7.8207bn.

Nordea Bank committed ¥3.8208bn, Sumitomo Mitsui Banking Corp provided ¥5.373bn, and Export Development Canada committed ¥2.388bn. Banks were invited to join the syndicate on three levels.

Arrangers providing $30 million or more gain 40bp in participation fees for an all-in of 61bp, co-arrangers holding between $20 million and $29 million gain 35bp for an all-in of 60bp and lead managers lending between $10 million and $19 million get 30bp receiving an all-in of 59bp. The closing date for syndication was scheduled for December 12, 2007.