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Overview

ICBC contributes €5 million EUR to a €265 million EUR syndicated loan to Spar Nord Bank for unspecified purposes

Commitments (Constant USD, 2023)$12,462,882
Commitment Year•2005Country of Activity•DenmarkDirect Recipient Country of Incorporation•DenmarkSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Oct 1, 2005

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

  • Industrial and Commercial Bank of China (ICBC)

Cofinancing agencies

Private Sector

  • Arbejdernes Landsbank A/S (AL Bank)
  • Banco Popolare di Verona e Novara
  • DNB Bank ASA (formerly DnB NOR ASA)
  • Dresdner Kleinwort
  • Erste Bank
  • Kommunalkredit International Bank Limited
  • Lloyds Bank plc (formerly Lloyds TSB Bank PLC)
  • Nordea Bank Abp
  • Skandinaviska Enskilda Banken AB (SEB)
  • Swedbank AB
  • Wachovia Bank, N.A.
  • WGZ Bank

State-owned Banks

  • Banca Monte dei Paschi di Siena S.p.A. (MPS) (BMPS)
  • Banque et Caisse d'Épargne de l'État (Spuerkeess)
  • Hamburg Commercial Bank (HSOB) (Formerly HSH Nordbank AG)
  • Landesbank Hessen-Thüringen (Helaba)
  • Landesbank Saar (SaarLB)
  • Landwirtschaftliche Rentenbank
  • LRP Landesbank Rheinland-Pfalz
  • Norddeutsche Landesbank Luxembourg S.A. (NORD/LB Luxembourg S.A.)
  • WestLB AG
  • Zurich Cantonal Bank (Zürcher Kantonalbank (ZKB))

Receiving agencies

Private Sector

  • Spar Nord Bank A/S

Loan description

ICBC contributes to an EUR €265 million syndicated loan to Danish bank Spar Nord Bank for unspecified purposes in 2005

Interest type•Variable Interest Rate

Narrative

Full Description

Project narrative

In October 2005, a syndicate of 23 banks — including the Industrial and Commercial Bank of China (ICBC) — signed a €265 million EUR syndicated loan agreement with Spar Nord Bank A/S — a Danish bank based in North Jutland — for unspecified purposes. This loan was divided into a two tranches: a €132.5 million EUR term loan tranche and a €132.5 million EUR revolver tranche, both with an interest rate based on a floating rate plus a margin of 20 basis points (bps) and a commitment fee of 50% of the applicable margin (10 bps). ICBC contributed €5 million EUR as a lead manager. In addition to ICBC, the following lenders contributed the respective amounts to the loan syndicate in the respective roles: HSH Nordbank AG (€20.75 million EUR as mandated lead arranger and bookrunner), Lloyds TSB Bank plc (€20.75 million EUR as mandated lead arranger and bookrunner), DnB NOR Bank (€20 million EUR as lead arranger), Landesbank Hessen-Thüringen (Helaba) (€15 million EUR as arranger), LRP Landesbank Rheinland-Pfalz (€15 million EUR as arranger), Norddeutsche Landesbank Luxembourg S.A. (€15 million EUR as arranger), Swedbank (€15 million EUR as arranger), WestLB AG (€15 million EUR as arranger), WGZ Bank (€15 million EUR as arranger), Arbejdernes Landsbank A/S (AL Bank) (€10 million EUR as co-arranger), Banque et Caisse d'Épargne de l'État (Spuerkeess) (€10 million EUR as co-arranger), Dresdner Kleinwort Wasserstein (€10 million EUR as co-arranger), Erste Bank (€10 million EUR as co-arranger), Landwirtschaftliche Rentenbank (€10 million EUR as co-arranger), Nordea Bank Abp (€10 million EUR as co-arranger), SEB Merchant Banking (€10 million EUR as co-arranger), Wachovia Bank, N.A. (€10 million EUR as co-arranger), Zürcher Kantonalbank (ZKB) (€10 million EUR as co-arranger), Banco Populare di Verona e Novara (€5 million EUR as lead manager), Kommunalkredit International Bank (€5 million EUR as lead manager), Landesbank Saar (SaarLB) (€5 million EUR as lead manager), and Banca Monte dei Paschi di Siena S.p.A. (BMPS) (€3.5 million EUR as lead manager). The loan was launched in syndication at €100 million EUR but increased to €265 million EUR after oversubscription, with arrangers offered tickets of €15 million EUR for a fee of 10 bps, co-arrangers €10 million EUR for 9 bps, and lead managers €5 million EUR for 7.5 bps.