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Overview

Agricultural Bank of China contributes $3 million USD to a $70 million USD syndicated loan to Singpu Chemicals for unspecified purposes (Linked to Record ID#104252 and #104253)

Commitments (Constant USD, 2023)$6,311,209
Commitment Year•2004Country of Activity•SingaporeDirect Recipient Country of Incorporation•SingaporeSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Dec 13, 2004
Last repayment (originally scheduled)
Dec 12, 2009

Geospatial footprint

Map overview

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The purpose of this project was for Agricultural Bank of China to contribute $3 million USD to a $70 million USD syndicated loan to Singpu Chemicals for unspecified purposes. More detailed locational information can be found at: https://www.openstreetmap.org/way/380512075

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

  • Agricultural Bank of China (ABC)

Cofinancing agencies

Private Sector

  • Bank of East Asia Limited (BEA)
  • BNP Paribas S.A.
  • Bumiputra Commerce Bank (BCB) (formerly known as Commerce Asset-Holdings Berhad)
  • Krungthai Bank PCL
  • Malayan Banking Berhad (Maybank)
  • Oversea-Chinese Banking Corporation, Limited (OCBC Bank)

State-owned Commercial Banks

  • China Construction Bank Corporation (CCB)
  • Industrial and Commercial Bank of China (ICBC)

Receiving agencies

Private Sector

  • Singpu Chemicals Limited (SP Chemicals)

Loan desecription

Agricultural Bank of China, ICBC, and China Construction Bank contributions to USD 70 million syndicated loan to Singpu Chemicals (2004)

Interest type•UnknownMaturity•5 years

Narrative

Full Description

Project narrative

On December 13, 2004, a syndicate of nine banks — including the Agricultural Bank of China (ABC), the Industrial and Commercial Bank of China (ICBC), and China Construction Bank Corporation (CCB) — signed a $70 million USD syndicated loan agreement with Singpu Chemicals Limited (SP Chemicals) — a Singapore-based chemical manufacturer and vendor — for unspecified purposes. This loan carried a maturity period of five years. ABC committed $3 million USD as a lead manager, ICBC committed $8 million USD as a lead manager, and CCB committed $9 million USD as a co-arranger. Record ID#104251 captures ABC's contribution. Record ID#104252 captures ICBC's contribution. Record ID#104253 captures CCB's contribution. In addition to the three Chinese state-owned lenders, the following banks contributed the respective amounts to the loan syndicate in these roles: Overseas-Chinese Banking Corporation, Limited (OCBC Bank) ($17.25 million USD as a mandated lead arranger), BNP Paribas S.A. ($10 million USD as co-arranger), Bumiputra-Commerce Bank (BCB) ($8 million USD as a lead manager), Malayan Banking Berhad (Maybank) ($5.75 million USD as lead manager), Krungthai Bank PCL ($5 million USD as lead manager), and the Bank of East Asia (BEA) ($4 million USD as lead manager).