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Overview

China Eximbank contributes $5 million USD to a $200 million USD syndicated term loan to Korea Development Bank for general corporate purposes

Commitments (Constant USD, 2023)$6,936,589
Commitment Year•2009Country 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
Apr 15, 2009

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 Policy Banks

  • Export-Import Bank of China (China Eximbank)

Cofinancing agencies

Private Sector

  • Commerzbank Aktiengesellschaft (Commerzbank AG)
  • Crédit Agricole Corporate and Investment Bank (CACIB) (Crédit Agricole CIB) (Formerly Calyon) (Formerly Crédit Agricole Indosuez (CAI))
  • Mizuho Corporate Bank, Ltd. (MHCB)
  • Natixis
  • Royal Bank of Canada (RBC)
  • Standard Chartered Bank PLC
  • The Yamaguchi Bank, Ltd.

State-owned Banks

  • Union National Bank (UNB)
  • WestLB AG

State-owned Commercial Banks

  • Banque BIA
  • China CITIC Bank International Limited (formerly CITIC Ka Wah Bank)

Receiving agencies

State-owned Banks

  • Korea Development Bank (KDB)

Loan description

China Eximbank contributes to a USD $200 million syndicated term loan to Korea Development Bank for general corporate purposes in 2009

Interest rate (t₀)•4.14688%Interest type•Variable Interest RateMaturity•1.5 years

Narrative

Full Description

Project narrative

On April 15, 2009, a syndicate of 12 lenders — including the Export-Import Bank of China — entered into a $200 million USD syndicated term loan to Korea Development Bank (KDB) for general corporate purposes. The facility was split into two tranches: a $175 million USD tranche which carried a maturity period of one year and an interest rate of 200 basis points (bps) over LIBOR and a $25 million USD tranche with a maturity period of two years and an interest rate of 300 bps over LIBOR. The loan facility was oversubscribed during syndication, and the final value was upsized from $120 million USD. China Eximbank acted as an arranger and contributed $5 million USD to the $200 million USD facility. In addition to China Eximbank, the following lenders played these roles on and contributed the following amounts to the syndicate: Calyon (now Crédit Agricole Corporate and Investment Bank) (bookrunner, $28 million USD); Commerzbank Aktiengesellschaft (Commerzbank AG) (bookrunner, $28 million USD); Mizuho Corporate Bank (bookrunner, $28 million USD); Natixis (bookrunner, $28 million USD); Citic Ka Wah Bank (senior lead arranger, $20 million USD); Standard Chartered Bank (senior lead arranger, $20 million USD); Royal Bank of Canada (RBC) (lead arranger, $15 million USD); Union National Bank ($10 million USD); WestLB ($10 million USD); Banque BIA (arranger, $5 million USD); and Yamaguchi Bank (arranger, $5 million USD).

Staff comments

1. It is unclear whether China Eximbank contributed to both tranches. For the time being, AidData has assumed it had, but taken the average of the maturity periods of the tranches {[(1 + 2) / 2] = 1.5 years) coded it as the maturity period of this record. 2. It is unclear whether China Eximbank contributed to both tranches. For the time being, AidData has assumed it had, but taken the average of the margins on the interest rates of the tranches {[(200 + 300) / 2] = 250 bps) and coded it as the margin on the interest rate of this record.