Citic Pacific awards mandate for HK$2.4 billion facility

The pricing for the current transaction is close to Citic PacificÆs HK$3.8 billion loan of May 2001.

Citic Pacific has mandated six banks as coordinating arrangers for a HK$2.4 billion revolving creditterm loan facility. The arranger group comprising of Bank of China, Bank of Communications, Bank of Tokyo-Mitsubishi, BNP Paribas, Commerz East Asia and ICBC Asia will fully underwrite the facility, which will be launched into general syndication on July 18. Bank of China is the publicity agent for the transaction.

The unsecured facility comprises of two tranches with bullet repayments a revolving credit tranche of five-and-a-half years for HK$1.56 billion Tranche A and a term loan of seven years for HK$840 million Tranche B. Tranche A pays a margin of 45bp over Hibor while tranche B...

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