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.