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Overview

Bank of China provides $10 million USD to $100 million USD revolving credit facility to Hyundai Card for unspecified purposes

Commitments (Constant USD, 2023)$18,765,161
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
Jun 2, 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

  • Bank of China (BOC)

Cofinancing agencies

Private Sector

  • Crédit Agricole Corporate and Investment Bank (CACIB) (Crédit Agricole CIB) (Formerly Calyon) (Formerly Crédit Agricole Indosuez (CAI))
  • ING Bank N.V.
  • Mizuho Corporate Bank, Ltd. (MHCB)
  • National Agricultural Cooperative Federation (NH) (NACF)
  • Sumitomo Mitsui Banking Corporation (SMBC)

Receiving agencies

Private Sector

  • Hyundai Card Co., Ltd.

Loan description

Bank of China contributes to USD $100 million revolving credit facility to Hyundai Card for unspecified purposes in South Korea in 2006

Interest type•UnknownMaturity•1 years

Narrative

Full Description

Project narrative

In or around early June 2006, a syndicate of six banks — including the Bank of China (BOC) — entered into a $100 million USD revolving credit facility (RCF) agreement with Hyundai Card Co., Ltd. — a South Korea-based credit card company owned by the Hyundai Motor Group — for unspecified purposes. The RCF carried a maturity period of one year. Bank of China acted as arranger on the facility, and contributed $10 million USD. In addition to BOC, the following lenders played these roles in and contributed the following amounts to the syndicate: Sumitomo Mitsui Banking Corporation (SMBC) (coordinating arranger, $25 million USD); Calyon (now Crédit Agricole Corporate and Investment Bank) (coordinating arranger, $20 million USD); ING Bank (coordinating arranger, $20 million USD); National Agricultural Cooperative Federation (arranger, $20 million USD); and Mizuho Corporate Bank (co-arranger, $5 million USD).