Overview

ICBC contributes $6 million USD to $200 million USD syndicated loan to Pusan Bank for unspecified purposes

Commitments (Constant USD, 2023)$11,259,097

Commitment Year•2006Country 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: Oct 20, 2006

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 (ICBC)

Cofinancing agencies

Private Sector

Banco Bilbao Vizcaya Argentaria, S.A. (BBVA)
BNP Paribas Fortis S.A./N.V.
Commonwealth Bank of Australia (CBA) (CommBank)
Crédit Agricole Corporate and Investment Bank (CACIB) (Crédit Agricole CIB) (Formerly Calyon) (Formerly Crédit Agricole Indosuez (CAI))
Dresdner Bank AG
DZ Bank AG
First Commercial Bank Limited
Korea Exchange Bank (KEB)
Standard Chartered Bank PLC
Sumitomo Mitsui Banking Corporation (SMBC)
Toronto-Dominion Bank (TD Bank Group)

State-owned Banks

Bayerische Landesbank (BayernLB)

Receiving agencies

Private Sector

Busan Bank (formerly Pusan Bank)

Loan description

ICBC contributes to USD $200 million syndicated loan to Pusan Bank for unspecified purposes in South Korea in 2006

Interest type•UnknownMaturity•2 years

Narrative

Full Description

Project narrative

On or around October 20, 2006, a syndicate of 12 lenders — including the Industrial and Commercial Bank of China (ICBC) — provided a $200 million USD syndicated loan to Pusan Bank (now Busan Bank) for unspecified purposes. The facility was divided into two tranches which carried maturity periods of one and three years. ICBC acted as a co-arranger and contributed $6 million USD to the facility. The following lenders played the following roles and contributed these amounts: Banco Bilbao Vizcaya Argentaria (BBVA) (senior manager, $2 million USD), BayernLB (mandated lead arranger, $31.4 million USD), Calyon (mandated lead arranger, $31.4 million USD), Commonwealth Bank of Australia (mandated lead arranger, $31.4 million USD), Standard Chartered (mandated lead arranger, $31.4 million USD), Sumitomo Mitsui Banking Corporation (mandated lead arranger), Dresdner Bank (arranger, $10 million USD), DZ Bank (arranger, $10 million USD), Fortis (arranger, $10 million USD), First Commercial Bank (senior manager, $3 million USD), Toronto Dominion (senior manager, $2 million USD).

Staff comments

1. It is unclear whether ICBC contributed to each tranche. For the time being, AidData has assumed it had, but taken the average of the maturity periods of the tranches {[(1 + 3) / 2] = 2 years) coded it as the maturity period of this record.