Skip to content
AidData logo

Overview

Agricultural Bank of China contributes to $200 million syndicated loan agreement with MDM Bank for unspecified purposes

Commitments (Constant USD, 2023)$41,539,113
Commitment Year•2007Country of Activity•RussiaDirect Recipient Country of Incorporation•RussiaSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Dec 1, 2007
Last repayment (originally scheduled)
Nov 30, 2008

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

  • Commerzbank Aktiengesellschaft (Commerzbank AG)
  • Erste Bank
  • ICICI Bank Limited
  • KBC Bank N.V.
  • Natixis
  • Sumitomo Mitsui Banking Corporation (SMBC)
  • UniCredit Bank AG

Receiving agencies

Private Sector

  • MDM Bank

Loan description

ABC contribution to $200 million syndicated loan agreement with MDM Bank for unspecified purposes

Interest rate (t₀)•5.0575%Interest type•Variable Interest RateLoan tenor•12-month rateMaturity•1 years

Narrative

Full Description

Project narrative

In December 2007, MDM Bank signed a $200 million syndicated loan agreement with a group of Chinese and non-Chinese banks. Agricultural Bank of China (ABC), Commerzbank, Erste Bank, ICICI Bank, KBC, Natixis, SMBC and UniCredit arranged the facility, which carried a 364-day tenor and an interest rate of LIBOR plus a 0.6% margin.

Staff comments

1. The precise monetary value of ABC's contribution is unknown. For the time being, AidData assumes equal contributions ($25,000,000) across all known members of the loan syndicate. 2. AidData has estimated the all-in interest rate by adding 0.60% to average 12-month LIBOR in December 2007 (4.80%). 3. MDM Bank (Russian: МДМ Банк) is a former Russian commercial bank that operated from 1993 until it was merged in 2017 with B&N Bank. MDM Bank was one of Russia's largest private banks originally based in Moscow. In 2009 it merged with URSA, was renamed and moved to the city of Novosibirsk.