BankBoston Asia Completes US $100 Million Structured Trade Facility for APP Paper Trading S Pte Limited.SINGAPORE--(BUSINESS WIRE)--Oct. 19, 1998--BankBoston, N.A., Singapore today announced that it completed a syndication for a US $100 million secured revolving credit Revolving Credit A line of credit where the customer pays a commitment fee and is then allowed to use the funds when they are needed. It is usually used for operating purposes, fluctuating each month depending on the customers current cash flow needs. facility for APP Paper Trading Paper trading (sometimes also called "virtual trading") is a simulated trading process in which would-be investors can 'practice' investing without committing real money. (S) Pte Limited (APPTP), Singapore, to finance current and future inventory and receivables. "This financial partnership is an opportunity for BankBoston to demonstrate its support of a leading company operating in a difficult environment utilizing an innovative financing structure," said Anthony Loh, managing director of BankBoston Asia. "The deal was oversubscribed Refers to connecting more users to a system than can be fully supported if all of them were using it at the same time. Networks and servers are almost always designed with some amount of oversubscription, counting on the fact that everybody does not need the service simultaneously. by 22%, which represents unprecedented support from the marketplace." APPTP is a wholly-owned subsidiary of Asia Pulp & Paper Company Ltd. (APP), a leading pulp and paper company with headquarters in Singapore. APPTP is a sales and distribution company for APP. The credit facility will finance inventory owned by APPTP and stored in warehouses in Singapore as well as receivables generated from the sale of the inventory. The coordinating arranger for the transaction is BankBoston N.A., with the following arrangers: Dresdner Kleinwort Benson, Development Bank of Singapore Limited and Bayerische Hypo-Und Vereinsbank AG and Lead managers- Norddeutsche Landesbank Girozentrale, Natexis Banque BFCE, Banque Worms, Bayerische Landesbank Girozentrale, Hua Nan Commercial Bank Ltd., and The Bank of Nova Scotia. BancBoston Robertson Stephens' Emerging Markets Investment Banking and Global Trade Units provide a range of capital markets services and global trade services to the bank's institutional investors, and emerging market corporate and sovereign clients. This includes underwriting, distributing, and trading a full line of emerging market debt and trade related products. BankBoston also provides full research and advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal to clients. BankBoston (NYSE NYSE See: New York Stock Exchange :BKB BKB Basler Kantonalbank (Switzerland) BKB Black King Bar (gaming weapon) BKB BV Kwaliteitsverklaringen Bouw (Dutch) BKB BankBoston Corporation ), with assets of US $73.8 billion and some 25,000 employees, is the United States' oldest commercial bank and New England's only global bank. BankBoston is engaged in consumer, small business and corporate banking in New England; delivering sophisticated financial solutions to corporations and governments nationally and internationally; and full-service banking in leading Latin American markets. The Corporation's common and preferred stocks are listed on the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and Boston stock exchanges. |
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