Tuesday 23 October
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Sep 1, 2016 @ 18:54

Ayalas secure $400M syndicated loan

 

The Ayala-led Bank of the Philippine Islands has inked a $400-million three-year syndicated term loan facility, attracting a diverse group of Asian, European, and American lenders.

The facility is the first of its kind for BPI in the US dollar syndicated loan market, BPI said in a stock exchange filing.

Strong interest from foreign groups prompted BPI to upsize the amount from $250 million to $400 million.
BPI said the facility would be used to fund strong growth in loans and investments.

Mandated lead arrangers and bookrunners were Commerzbank Aktiengesellschaft, Hong Kong Branch; Sumitomo Mitsui Banking Corporation, Singapore Branch; United Overseas Bank Limited Acting Through Its Offshore Banking Unit of Taipei Branch; Bank of America Merrill Lynch; Hua Nan Commercial Bank, Ltd., Offshore Banking Branch and Mega International Commercial Bank Co., Ltd., Offshore Banking Branch.

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