Overview

Bank of China contributes $3 million USD to $60 million USD syndicated loan for ECS Holdings for unknown purposes (Linked to Record ID#105004)

Commitments (Constant USD, 2023)$6,311,209

Commitment Year•2004Country of Activity•SingaporeDirect Recipient Country of Incorporation•SingaporeSector•CommunicationsFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Dec 10, 2004

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

Loading map…

The purpose of this project was for Bank of China to contribute $3 million USD to $60 million USD syndicated loan for ECS Holdings for unknown purposes. More detailed locational information can be found at: https://www.openstreetmap.org/way/454254528

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% Chinese ownership

Funding agencies

State-owned Commercial Banks

Bank of China (BOC)

Cofinancing agencies

Private Sector

Arab Bank
Bank of East Asia Limited (BEA)
Commerzbank Aktiengesellschaft (Commerzbank AG)
Korea Exchange Bank (KEB)
Krungthai Bank PCL
Malayan Banking Berhad (Maybank)
Oversea-Chinese Banking Corporation, Limited (OCBC Bank)
Sumitomo Mitsui Banking Corporation (SMBC)
United Overseas Bank Limited (UOB)

State-owned Commercial Banks

Industrial and Commercial Bank of China (ICBC)

Receiving agencies

Private Sector

ECS Holdings Limited

Loan description

Bank of China and ICBC contributions to 2004 $60 million syndicated loan to ECS Holdings

Interest type•Unknown

Narrative

Full Description

Project narrative

On December 10, 2004, financial close was reached on a deal in which a syndicate of 11 banks — including Bank of China and Industrial & Commercial Bank of China — entered into a $60 million USD syndicated loan agreement with ECS Holdings, a Singapore-based company. The proceeds were used for unknown purposes. While Bank of China contributed $3 million USD (Record ID#105003) and Industrial & Commercial Bank of China (Record ID#105004) contributed $4.5 million USD, other banks also contributed: Oversea-Chinese Banking Corp, as a mandated lead arranger, contributed $12.5 million USD, Sumitomo Mitsui Banking Corp lent $10 million USD, lead arranger Arab Bank contributed $9 million USD, and lead manager Commerzbank held $5.5 million USD. Senior managers Korea Exchange Bank contributed $4.5 million USD, and Krung Thai Bank, Maybank, and United Overseas Bank each contributed $3 million USD. Bank of East Asia participated with $2 million USD.