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Overview

Bank of China contributes to a €2 billion EUR syndicated loan to Degussa for unspecified purposes

Commitments (Constant USD, 2023)$190,458,401
Commitment Year•2003Country of Activity•GermanyDirect Recipient Country of Incorporation•GermanySector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Aug 10, 2003

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

  • ABN AMRO Bank NV
  • Bank One, N.A. (later merged with JPMorgan Chase)
  • Barclays Corporate and Investment Bank (Formerly Barclays Capital)
  • BNP Paribas S.A.
  • Citigroup Inc.
  • Commerzbank Aktiengesellschaft (Commerzbank AG)
  • Crédit Industriel et Commercial (CIC)
  • Deutsche Bank AG
  • Dresdner Kleinwort
  • Fortis Bank
  • HSBC Bank PLC
  • HypoVereinsbank (HVB)
  • ING Group N.V.
  • JPMorgan Chase Bank, N.A. (Chase Bank, formerly the Chase Manhattan Bank)
  • Mizuho Bank, Ltd.
  • Morgan Stanley
  • Standard Chartered Bank PLC

State-owned Banks

  • Bayerische Landesbank (BayernLB)
  • Landesbank Baden-Württemberg (LBBW)
  • Landesbank Hessen-Thüringen (Helaba)
  • WestLB AG

Receiving agencies

Private Sector

  • Degussa AG

Loan description

Bank of China contributes to a €2 billion EUR syndicated loan to Degussa for unspecified purposes

Interest type•UnknownMaturity•3 years

Narrative

Full Description

Project narrative

On August 10, 2003, a syndicate of 22 banks — including the Bank of China (BOC) — signed a €2 billion EUR syndicated facility with Degussa AG — a German specialty chemicals company — for unspecified purposes. This loan was divided into two tranches: a €1 billion EUR tranche with a maturity period of one years and a €1 billion EUR tranche with a maturity period of five years. BOC contributed €75 million EUR as a co-arranger. In addition to BOC, the following lenders contributed the respective amounts to the loan syndicate in the respective amounts: BNP Paribas S.A. (€150 million EUR as mandated lead arranger), Commerzbank AG (€150 million EUR as mandated lead arranger and bookrunner), Dresdner Kleinwort Wasserstein (€150 million EUR as mandated lead arranger), JPMorgan Chase Bank, N.A. (€150 million EUR as mandated lead arranger), ABN Amro Bank N.V. (€150 million EUR as an arranger), Barclays Capital (€150 million EUR as an arranger), Bayerische Landesbank (BayernLB) (€150 million EUR as an arranger), Citigroup (€150 million EUR as an arranger), Deutsche Bank (€150 million EUR as an arranger), Landesbank Hessen-Thüringen (Helaba) (€150 million EUR as an arranger), Landesbank Baden-Württemberg (LBBW) (€150 million EUR as an arranger), Morgan Stanley (€150 million EUR as an arranger), WestLB AG (€150 million EUR as an arranger), Bank One Corporation (€75 million EUR as an co-arranger), Crédit Industriel et Commercial (CIC) (€75 million EUR as an co-arranger), Fortis Bank (€75 million EUR as an co-arranger), HSBC Bank Plc (€75 million EUR as an co-arranger), HypoVereinsbank (HVB) (€75 million EUR as an co-arranger), ING Group N.V. (€75 million EUR as an co-arranger), Mizuho Bank (€75 million EUR as an co-arranger), and Standard Chartered Bank PLC (€75 million EUR as an co-arranger). The loan was oversubscribed in syndication but not increased.

Staff comments

1. It is unclear whether BOC contributed to each tranche. For the time being, AidData has coded the maturity period of this record by taking the average of the two maturities [(1 + 5) / 2 = 3].