28 September 2004
KCRC signs HK$8,000 million syndicated loan
The Kowloon-Canton Railway Corporation (KCRC) organised a signing ceremony today for the HK$8,000 million credit facilities agreement entered with 18 local and international banks.
The syndicated loan facilities were self-arranged by KCRC, with 18 banks forming the syndicate of lenders. The lenders include Senior Lead Managers HSBC, Hang Seng Bank, Bank of Tokyo-Mitsubishi, CALYON, Bank of China (Hong Kong), BNP Paribas, Standard Chartered Bank (Hong Kong), Barclays Bank and Citibank, and Lead Managers UFJ Bank, Bank of Communications, Mizuho Corporate Bank, National Australia Bank, Sumitomo Mitsui Banking Corporation, ABN AMRO Bank, DBS Bank, Wing Lung Bank and Commonwealth Bank of Australia.
The facilities comprise three tranches: a HK$3,500 million five-year revolving credit, a HK$3,500 million seven-year credit facility and a HK$1,000 million 10-year credit facility. All tranches have a revolving feature for the first 5 years as well as a bullet repayment structure.
The facilities are for working capital purposes.
Speaking at today’s signing ceremony, KCRC Chief Executive Officer (Acting), Mr. Samuel Lai said, "The facility marks the Corporation’s return to the local banking market which is an essential source of funding in our long-term financing plans."
KCRC entered a HK$8,000 million credit facilities agreement with 18 local and international banks.