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Overview

Bank of China (Seoul Branch) contributes $75 million USD to $250.5 million USD syndicated loan to NongHyup Bank for unspecified purposes

Commitments (Constant USD, 2023)$70,868,935
Commitment Year•2022Country of Activity•KoreaDirect Recipient Country of Incorporation•KoreaOverseas Jurisdiction•KoreaSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Nov 14, 2022
Last repayment (originally scheduled)
Nov 13, 2025

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

  • Far Eastern International Bank (FEIB)
  • Hua Nan Commercial Bank, Ltd. (HNCB)
  • Taipei Fubon Commercial Bank Co., Ltd. (Taipei Fubon Bank)

State-owned Banks

  • Export-Import Bank of the Republic of China, Taipei

State-owned Commercial Banks

  • Agricultural Bank of China (ABC)

Receiving agencies

Private Sector

  • Nonghyup Bank

Loan description

BOC and ABC contributions to USD $250.5 million syndicated loan to NongHyup Bank for unspecified purposes in South Korea in 2022

Interest type•UnknownMaturity•3 years

Narrative

Full Description

Project narrative

On or around November 14, 2022, a syndicate of seven lenders — including the Seoul Branch of the Bank of China (BOC) and the Macau and Seoul Branches of the Agricultural Bank of China (ABC) — entered into a $250.5 million USD syndicated loan agreement with NongHyup Bank — a South Korean agricultural bank — for unspecified purposes. Syndication was sealed at $250.5 million USD, which was lower than the $300 million USD targeted size. The loan carried a maturity period of three years. BOC contributed $75 million USD (captured by Record ID #109417) and Agricultural Bank of China contributed a total of $100 million USD (between the Macau and Seoul Branches, $50 million USD each) (captured by Records ID #109418 and #110741) to the loan syndicate. In addition to these banks, the following lenders also contributed the following amounts and played the following applicable roles in the syndicate: Export-Import Bank of the Republic of China ($28 million USD), Far Eastern International Bank ($10 million USD), Hua Nan Commercial Bank ($12.5 million USD), Taipei Fubon Commercial Bank ($25 million USD). In addition to these lenders, these institutions played the following roles, but did not contribute to the final loan: Bookook Securities (sole mandated lead arranger and bookrunner); Citi (administrative agent); and Deutsche Bank (administrative agent).