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Overview

ICBC (Seoul Branch) contributes to ₩100 billion KRW syndicated loan to Mando Corp for unspecified purposes

Commitments (Constant USD, 2023)$14,517,288
Commitment Year•2003Country of Activity•KoreaDirect Recipient Country of Incorporation•KoreaOverseas Jurisdiction•KoreaSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Dec 1, 2003

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

  • ABN AMRO Bank NV
  • Bank of Nova Scotia (Scotiabank)
  • BNP Paribas S.A.
  • Hana Bank Co., Ltd. (formerly KEB Hana Bank)
  • HSBC Korea Ltd.
  • JPMorgan Chase Bank, N.A. (Chase Bank, formerly the Chase Manhattan Bank)
  • KB Kookmin Bank
  • Korea Exchange Bank (KEB)
  • Korea First Bank
  • National Federation of Fisheries Co-operative
  • Sumitomo Mitsui Banking Corporation (SMBC)

State-owned Banks

  • Woori Bank Co., Ltd.

Receiving agencies

Private Sector

  • Mando Corporation (formerly Mando Machinery Corporation)

Loan description

ICBC (Seoul Branch) contributes to KRW ₩100 billion syndicated loan to Mando Corp for unspecified purposes in South Korea in 2003

Interest type•Unknown

Narrative

Full Description

Project narrative

In early December 2003, a syndicate of 13 banks — including the the Seoul Branch of the Industrial and Commercial Bank of China (ICBC) — entered into a $255 million USD loan with the Mando Corporation — a Korea-based automotive company specializing in steering, brake, and suspension parts — for unspecified purposes. In general syndication, banks pledged $255 million USD, but the ₩100 billion KRW loan was not ultimately oversubscribed. In addition to ICBC, the following lenders also contributed to the syndicate, and played the following roles: JP Morgan (mandated co-ordinating arranger), Korea First Bank (co-ordinating arranger), Sumitomo Mitsui Banking Corp (co-ordinating arranger), ABN Amro Bank, Bank of Nova Scotia, BNP Paribas, Hana Bank, Korea Exchange Bank, Woori Bank, HSBC (Korea), Kookmin Bank (lead arranger), and National Federation of Fisheries Co-operative (lead arranger).

Staff comments

1. AidData has assumed that each lender contributed equally to the ₩100 billion KRW loan (100,000,000,000 / 13 = ₩7.69 billion KRW). AidData did not use the oversubscribed value of the loan, because industry sources indicated that the loan was not overcommitted.