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Overview

Bank of China (Hong Kong) contributes $10 million USD to a $100 million USD loan to the National Federation of Fisheries Cooperatives for unspecified purposes

Commitments (Constant USD, 2023)$20,043,305
Commitment Year•2005Country of Activity•KoreaDirect Recipient Country of Incorporation•KoreaOverseas Jurisdiction•Hong Kong (China)Sector•Agriculture, Forestry, FishingFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Dec 19, 2005

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

  • Banco Bilbao Vizcaya Argentaria, S.A. (BBVA)
  • DZ Bank AG
  • Kommunalkredit International Bank Limited
  • Mizuho Corporate Bank, Ltd. (MHCB)
  • Standard Chartered Bank AG

State-owned Banks

  • Bayerische Landesbank (BayernLB)

Receiving agencies

Private Sector

  • National Federation of Fisheries Co-operative

Loan description

Bank of China (Hong Kong) contributes to a USD $100 million loan to the National Federation of Fisheries Cooperatives for unspecified purposes in South Korea in 2005

Interest rate (t₀)•4.99313%Interest type•Variable Interest RateMaturity•3 years

Narrative

Full Description

Project narrative

On or around December 19, 2005, a syndicate of seven lenders — including the Hong Kong Branch of the Bank of China (BOC) — entered into a $100 million USD loan agreement with the National Federation of Fisheries Cooperatives — a Korean fishing industry advocacy organization — for unspecified purposes. The loan carried a maturity period of three years and carried an all-in interest rate of 33 basis points (bps) over LIBOR. BOC (Hong Kong) acted as an arranger on and contributed $10 million USD to the facility. In addition to BOC, the following lenders played these roles and contributed the following amounts: Standard Chartered Bank (co-ordinating arranger, $27.5 million USD); Mizuho Corporate Bank (co-ordinating arranger, $27.5 million USD); DZ Bank (Hong Kong) (arranger, $15 million USD); Bayerische Landesbank (BayernLB) (arranger, $10 million USD); Banco Bilbao Vizcaya Argentaria (BBVA) (Hong Kong Branch) (co-arranger, $5 million USD); and Kommunalkredit International Bank (co-arranger, $5 million USD).