Overview

ICBC (Asia) contributes to an $86 million USD syndicated loan to SK Shipping Co., Ltd. for ship financing purposes

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 1, 2004

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))

Receiving agencies

Private Sector

SK Shipping Co, Ltd.

Loan description

ICBC (Asia) contributes to a USD $86 million syndicated loan to SK Shipping Co., Ltd. for ship financing purposes in South Korea in 2004

Interest type•Unknown

Narrative

Full Description

Project narrative

In November 2004, the Industrial and Commercial Bank of China (Asia) Limited (ICBC (Asia)) contributed to an $86 million USD syndicated loan to SK Shipping. Co. Ltd — a Korea-based maritime transport company focusing on chemical transport, oil products, bulk cargo, steel, and liquiefied natural gas (LNG) — for ship financing purposes.

Staff comments

1. No other members of the syndicate are known. This issue merits further investigation.