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Overview

Jian Sing Bank contributes to a $50 million USD syndicated loan to Wing Tai Holdings for general corporate purposes (Linked to Record ID#104106)

Commitments (Constant USD, 2023)$14,316,647
Commitment Year•2005Country of Activity•SingaporeDirect Recipient Country of Incorporation•SingaporeOverseas Jurisdiction•Hong Kong (China)Sector•Business And Other ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
May 24, 2005
Last repayment (originally scheduled)
May 23, 2010

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

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The purpose of this project was for Jian Sing Bank to contribute to a $50 million USD syndicated loan to Wing Tai Holdings for general corporate purposes. More detailed locational information can be found at: https://www.openstreetmap.org/way/1184464323

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

  • China Construction Bank (Asia) Corporation Limited (CCB (Asia))

Cofinancing agencies

Private Sector

  • Asia Commercial Bank (ACB)
  • Bank of East Asia Limited (BEA)
  • Hang Seng Bank Limited
  • HSBC (Hong Kong and Shanghai Banking Corporation)
  • OCBC Bank (Hong Kong) Limited (formerly Wing Hang Bank Limited and OCBC Wing Hang Bank Limited)

State-owned Commercial Banks

  • Industrial and Commercial Bank of China (ICBC)

Receiving agencies

Private Sector

  • Wing Tai Holdings Limited

Loan desecription

ICBC and Jian Sing Bank contributions to USD 50 million syndicated loan to Wing Tai Holdings for general corporate purposes (2005)

Interest type•UnknownMaturity•5 years

Narrative

Full Description

Project narrative

On May 24, 2005, a syndicate of seven banks — including the Industrial and Commercial Bank of China (ICBC) and Jian Sing Bank Limited, a wholly-owned subsidiary of China Construction Bank Corporation Limited (and later renamed China Construction Bank (Asia) Corporation Limited (CCB (Asia)))— signed a $50 million USD syndicated facility agreement with Wing Tai Holdings Limited — a Singapore-incorporated and headquartered investment holdings company, real estate developer, and lifestyle retailer — for general corporate purposes. This loan carried a maturity period of five years. The proceeds were to be used by the borrower for general corporate purposes. Record ID#104106 captures ICBC's contribution. Record ID#104107 captures Jian Sing Bank's contribution. In addition to ICBC and Jian Sing Bank, the following lenders contributed to the loan syndicate: Hong Kong and Shanghai Banking Corporation (HSBC), Bank of East Asia Limited (BEA), Asia Commercial Bank (ACB),, Wing Hang Bank Limited, and Hang Seng Bank. HSBC served as arranger, and the rest were participating lenders. This loan was oversubscribed but not increased.

Staff comments

1. The individual contributions of the seven lenders to this $50 million USD syndicated loan are unknown. For the time being, AidData has estimated the contribution of ICBC and Jian Sing Bank by assuming each contributed an equal amount ($7,142,857.14286 USD) to the loan syndicate.