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Overview

Bank of China contributes $9 million USD to a $100 million USD syndicated loan for Indian Overseas Bank for unspecified purposes

Commitments (Constant USD, 2023)$12,676,015
Commitment Year•2008Country of Activity•IndiaDirect Recipient Country of Incorporation•IndiaSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Mar 20, 2008
Last repayment (originally scheduled)
Mar 20, 2011

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Commercial Banks

  • Bank of China (BOC)

Cofinancing agencies

Private Sector

  • Bank of Austria Creditanstalt
  • BCP Bank (Mauritius) Limited (Formerly Banque des Mascareignes Ltée)
  • DZ Bank AG
  • First Commercial Bank Limited
  • HSBC (Hong Kong and Shanghai Banking Corporation)
  • Hua Nan Commercial Bank, Ltd. (HNCB)
  • Intesa Sanpaolo S.P.A. (formerly Cariplo/Banca Intesa/BCI)
  • The Bank of Tokyo-Mitsubishi, Ltd. (BTM)
  • The Shanghai Commercial & Savings Bank, Ltd. (SCSB)

State-owned Banks

  • Banca Monte dei Paschi di Siena S.p.A. (MPS) (BMPS)
  • Bank of Kaohsiung (BOK)
  • Export-Import Bank of the Republic of China, Taipei
  • Land Bank of Taiwan Co., Ltd. (LBOT)
  • Taiwan Cooperative Bank

Receiving agencies

State-owned Banks

  • Indian Overseas Bank (IOB)

Loan description

Bank of China contribution to USD 100 million syndicated loan for Indian Overseas Bank for unspecified purposes

Interest type•UnknownMaturity•3 years

Narrative

Full Description

Project narrative

Between March 14 and 20, 2008, a syndicate of 15 banks — including the Bank of China (BOC) — entered into a $100 million USD syndicated loan agreement with Indian Overseas Bank (IOB) — an Indian public sector bank based in Chennai — for unspecified purposes. This loan carried a maturity period of three years. The coordinating arrangers, BOC HSBC, Intesa Sanpalo, Bank of Tokyo-Mitsubishi UFJ, DZ Bank, First Commercial Bank, and Taiwan Cooperative Bank committed $9 million USD each. Arrangers Bank of Austria Creditanstalt and Land Bank of Taiwan provided $7 million USD each, while co-arrangers Banca Monte dei Paschi di Siena, Banque des Mascareignes and Hua Nan Commercial Bank committed $5 million USD apiece. Export-Import Bank of the Republic of China committed $3.5 million USD while Bank of Kaohsiung committed $3 million USD. Shanghai Commercial & Savings Bank committed $1.5 million USD.