Overview

Bank of China contributes to a $400 million USD syndicated loan to the Export-Import Bank of Korea for general corporate purposes

Commitments (Constant USD, 2023)$87,257,726

Commitment Year•2016Country of Activity•KoreaDirect Recipient Country of Incorporation•KoreaSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Sep 22, 2016

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

BNP Paribas S.A.
Crédit Agricole Corporate and Investment Bank (CACIB) (Crédit Agricole CIB) (Formerly Calyon) (Formerly Crédit Agricole Indosuez (CAI))
HSBC (Hong Kong and Shanghai Banking Corporation)
Mizuho Bank, Ltd.

Receiving agencies

State-owned Banks

Export-Import Bank of Korea (KEXIM)

Loan description

Bank of China contributes to a USD $400 million syndicated loan to the Export-Import Bank of Korea for general corporate purposes in South Korea in 2016

Interest type•Unknown

Narrative

Full Description

Project narrative

Between September 16 and 22, 2016, a syndicate of five banks — the Bank of China (BOC) BNP Paribas S.A., Crédit Agricole Corporate and Investment Bank (CACIB), HSBC, and Mizuho Bank, Ltd. — entered into a $400 million USD syndicated loan facility agreement with the Export-Import Bank of Korea (KEXIM) — a South Korean state-owned bank and the country's official export credit agency — for general corporate purposes. BNP Paribas, CACIB, HSBC, and Mizuho Bank served as joint bookrunners and mandated lead arrangers. BOC joined in syndication as mandated lead arranger. The proceeds were to be used for general corporate purposes.

Staff comments

1. The individual contributions of the five lenders to this $400 million USD syndicated loan are unknown. For the time being, AidData has estimated BOC's contributions by assuming that each lender contributed equally ($80,000,000 USD) to the loan syndicate.