Recently, a syndicated loan jointly arranged by Industrial and Commercial Bank of China (Asia) Ltd. (hereinafter referred as ICBC (Asia)), Banque National de Paris (BNP), ABN-AMRO and Standard Chartered Bank won the 2005 Best Asia Pacific Syndicated Loan Award granted by International Financing Review.
ICBC (Asia), a holding company of ICBC with its shares listed in Hong Kong, is currently the sixth largest bank in Hong Kong. According to a related person-in-charge from ICBC, ICBC Asia, together with BNP, ABN-AMRO and Standard Chartered Bank, arranged a syndicated loan of USD 600 million to Legend Group for acquiring IBM's PC business on May 2005. The structure of this syndicated loan was prudent considering it is the first time for international financial institutions to arrange such loan for a China renowned Group to acquire overseas assets, and the loan was launched when the market is still doubtful about the success of the acquisition. The loan finally received the greatest accolade of all and won the Best Syndicated Loan in Asia Pacific Area awarded by International Financing Review. ICBC (Asia), being one of the banks to arrange this syndicate loan to win such award, won increased fame in the international bank market through this participation.
With 30 years of history, International Financing Review is one of the international acclaimed financial magazines. It is a leading publication in global capital market. The magazine is dedicated to provide authoritative and fair views to senior investment bankers on global capital markets news.
