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Overview

ICBC contributes $5 million USD to a $150 million USD loan to KorAm Bank for unspecified purposes

Commitments (Constant USD, 2023)$11,250,175
Commitment Year•2003Country 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
Sep 24, 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 di Roma S.p.A.
  • Banca Nazionale del Lavoro S.p.A., Hong Kong
  • BMO Financial Group (Bank of Montreal)
  • Citigroup Global Markets Asia Limited
  • Commerzbank Aktiengesellschaft (Commerzbank AG)
  • DBS Bank Ltd.
  • Lloyds Bank plc (formerly Lloyds TSB Bank PLC)
  • Mega International Commercial Bank Co., Ltd. (formerly International Commercial Bank of China)
  • MUFG Union Bank, N.A. (formerly Union Bank of California, N.A.)
  • Natexis Banques Populaires
  • Raiffeisen Zentralbank Österreich A.G. (RZB)
  • Sumitomo Mitsui Banking Corporation (SMBC)
  • The Shanghai Commercial & Savings Bank, Ltd. (SCSB)
  • UniCredit Bank Austria AG (formerly Bank Austria-Creditanstalt (BA-CA))
  • UniCredit S.p.A. (formerly UniCredito Italiano S.p.A.)
  • United Overseas Bank Limited (UOB)
  • Vereins- und Westbank (pre-2005)

State-owned Banks

  • Baden-Württembergische Bank AG (BW-Bank)
  • Banca Monte dei Paschi di Siena S.p.A. (MPS) (BMPS)
  • Export-Import Bank of the Republic of China, Taipei
  • Landesbank Baden-Württemberg (LBBW)
  • Landesbank Saar (SaarLB)

Receiving agencies

Private Sector

  • Citibank Korea Inc. (formerly KorAm Bank Co., Ltd.)

Loan description

ICBC contributes to a USD $150 million loan to KorAm Bank for unspecified purposes in South Korea in 2003

Interest type•UnknownMaturity•1 years

Narrative

Full Description

Project narrative

On September 24, 2003, a syndicate of 23 lenders — including the Industrial and Commercial Bank of China (ICBC) — entered into a $150 million USD loan agreement with KorAm Bank (now Citibank Korea Inc.) for unspecified purposes. The facility carried a maturity period of one year. Although the deal was oversubscribed during syndication, the final face value of the loan was not increased. ICBC contributed $5 million USD to and acted as co-arranger on the facility. In addition to ICBC, the following lenders played these roles and contributed the following amounts: Citigroup Global Markets Asia (co-ordinating arranger, $12 million USD); Commerzbank Aktiengesellschaft (Commerzbank) (East Asia Branch) (co-ordinating arranger, $12 million USD); DBS Bank (co-ordinating arranger, $12 million USD); Natexis Banques Populaires (co-ordinating arranger, $12 million USD); Standard Chartered (co-ordinating arranger, $12 million USD); Sumitomo Mitsui Banking Corp (SMBC) (co-ordinating arranger, $12 million USD); UniCredito Italiano SpA (Singapore) (co-ordinating arranger, $12 million USD); Union Bank of California (Seoul) (arranger, $11 million USD); Lloyds Bank TSB (arranger, $6 million USD); Banca Nazionale del Lavoro (Hong Kong) (co-arranger, $5 million USD); International Commercial Bank of China (Offshore Banking Branch) (co-arranger, $5 million USD); Raiffeisen Zentral Osterreich AG (Singapore) (co-arranger, $5 million USD); Baden-Wurttembergische Bank (Hong Kong) (lead manager, $3 million USD); Bank Austria Creditanstalt (lead manager, $3 million USD); Bank of Montreal (lead manager, $3 million USD); Export-Import Bank of the Republic of China (lead manager, $3 million USD); Landesbank Baden-Wurttemberg (Singapore) (lead manager, $3 million USD); United Overseas Bank (lead manager, $3 million USD); Vereins-und Westbank (lead manager, $3 million USD); Senior managers are Banca di Roma (Tokyo) (senior manager, $2 million USD); Banca Monte dei Paschi di Siena (Singapore) (senior manager, $2 million USD); Landesbank Saar (senior manager, $2 million USD); and the Shanghai Commercial & Savings Bank (Offshore Banking Branch) (senior manager, $2 million USD).