Overview

ICBC contributes to $75 million USD syndicated revolver loan to Suhyup Bank for general corporate purposes

Commitments (Constant USD, 2023)$40,643,169

Commitment Year•2012Country 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: Nov 9, 2012

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

Mizuho Bank, Ltd.

Receiving agencies

Private Sector

Suhyup Bank

Loan description

ICBC contributes to USD $75 million syndicated revolver loan to Suhyup Bank for general corporate purposes in South Korea in 2012

Interest type•UnknownMaturity•1 years

Narrative

Full Description

Project narrative

On or around November 9, 2012, the Industrial and Commercial Bank of China (ICBC) and Mizuho Bank entered into a $75 million USD revolving credit facility agreement with Suhyup Bank — the banking arm of Korea's National Federation of Fisheries Co-operative — for general corporate purposes. The facility carried a maturity period of one year. ICBC joined as a participant in syndication, while Mizuho acted as the sole bookrunner and mandated lead arranger on the facility.

Staff comments

1. The exact contributions of each lender to the $75 million USD facility is unknown. For now, AidData has assumed that each lender contributed equally to the loan ($75,000,000 / 2 = $37,500,00). This issue merits further investigation.