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Overview

ICBC contributes to a $300 million USD syndicated loan to the Korea Development Bank for unspecified purposes

Commitments (Constant USD, 2023)$79,014,982
Commitment Year•2000Country 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 30, 2000
Last repayment (originally scheduled)
Oct 30, 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

  • Banca Nazionale del Lavoro S.p.A. (BNP Paribas - BNL)
  • Barclays Corporate and Investment Bank (Formerly Barclays Capital)
  • Industrial Bank of Japan
  • JPMorgan Chase Bank, N.A. (Chase Bank, formerly the Chase Manhattan Bank)
  • KBC Bank N.V.
  • MUFG Securities EMEA PLC (formerly Tokyo-Mitsubishi International plc)

State-owned Banks

  • Bayerische Landesbank (BayernLB)
  • WestLB AG

Receiving agencies

State-owned Banks

  • Korea Development Bank (KDB)

Loan description

ICBC contributes to a USD $300 million syndicated loan to the Korea Development Bank for unspecified purposes in 2000

Interest rate (t₀)•7.24125%Interest type•Variable Interest RateLoan tenor•6-month rateMaturity•3 years

Narrative

Full Description

Project narrative

On October 30, 2000 syndicate of nine lenders — including the Industrial and Commercial Bank of China (ICBC) — entered into a $300 million USD syndicated loan agreement with the Korea Development Bank (KDB) for unspecified purposes. The facility carried a maturity period of three years. It was priced at 52 basis points (bps) over a six-month LIBOR rate, with front end fees of 39 bps. ICBC acted as an arranger on the facility. In addition to ICBC, the following lenders played the following roles on the deal: Chase Manhattan (now JPMorgan Chase Bank, N.A.) (lead arranger); Barclays Capital ( now Barclays Corporate and Investment Bank) (lead arranger); Industrial Bank of Japan (since merged to become Mizuho Bank) (lead arranger); Banca Nazionale del Lavoro S.p.A. (BNP Paribas - BNL) (arranger); Bayerische Landesbank (BayernLB) (arranger); KBC Bank (arranger); Tokyo-Mitsubishi International (subsequently purchased and became MUFG Securities EMEA PLC) (arranger); and WestLB (arranger).

Staff comments

1. The exact contributions of the nine lenders to the syndicate is unknown. For now, AidData has assumed that each lender contributed equally to the $300 million USD facility ( $300,000,000 / 9 = $33,333,333.334 ).