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Overview

ICBC Asia provides $12.21 million USD to a $100 million USD syndicated loan to Hyundai Merchant Marine for unspecified purposes

Commitments (Constant USD, 2023)$25,644,545
Commitment Year•2004Country of Activity•KoreaDirect Recipient Country of Incorporation•KoreaOverseas Jurisdiction•Hong Kong (China)Sector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Nov 22, 2004
Last repayment (originally scheduled)
Nov 22, 2007

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 (Asia) Limited (ICBC (Asia))

Cofinancing agencies

Private Sector

  • Bumiputra Commerce Bank (BCB) (formerly known as Commerce Asset-Holdings Berhad)
  • Commerzbank Aktiengesellschaft (Commerzbank AG)
  • Crédit Industriel et Commercial (CIC)
  • ING Bank N.V.
  • Société Générale Asia Limited
  • Sumitomo Mitsui Banking Corporation (SMBC)

State-owned Banks

  • KEXIM Asia Limited
  • Norddeutsche Landesbank Girozentrale (NORD/LB)

Receiving agencies

Private Sector

  • HMM Company Limited (formerly Hyundai Merchant Marine)

Loan description

November 2004 syndicated $100 million USD loan from ICBC Asia for unspecified purposes

Interest type•UnknownMaturity•3 years

Narrative

Full Description

Project narrative

On November 22, 2004, a syndicate of nine lenders — including the Industrial and Commercial Bank of China (Asia) Limited (ICBC (Asia)) — entered into a $100 million USD syndicated loan agreement with Hyundai Merchant Marine (now HMM Company Limited) ( 에이치엠엠 주식회사) for unspecified purposes. The loan carried a maturity period of three years. The nine lenders contributed the following amounts and roles to the facility: ICBC (Asia) (lead arranger, $12.19 million USD); Bumiputra Commerce Bank (lead arranger, $12.19 million USD); Commerzbank Aktiengesellschaft (Commerzbank AG) (lead arranger, $12.19 million USD); ING Bank N.V. (lead arranger, $12.19 million USD); Norddeutsche Landesbank Girozentrale (NORD/LB) (lead arranger, $12.19 million USD); Sumitomo Mitsui Banking Corporation Group (SMBC Group) (lead arranger, $12.19 million USD); SG Asia (mandated lead arranger, $12.21 million USD); Crédit Industriel et Commercial (arranger, $7.5 million USD); and Export-Import Bank of Korea (KEXIM) (arranger, $7.5 million USD).