Overview

China Eximbank contributes €1 million EUR to a €21 million EUR syndicated loan to Lateko banka for unspecified purposes

Commitments (Constant USD, 2023)$2,354,058

Commitment Year•2006Country of Activity•LatviaDirect Recipient Country of Incorporation•LatviaSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jun 16, 2006

Last repayment (originally scheduled): Dec 15, 2007

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

Bankgesellschaft Berlin AG (now Landesbank Berlin Holding AG)
Kaupthing Bank hf.
Latvijas Hipoteku
Morsø Bank A/S
Raiffeisen Zentralbank Österreich A.G. (RZB)
Raiffeisen-Landesbank Steiermark AG (Raiffeisen-Landesbank Steiermark) (RLB Steiermark)
Raiffeisenlandesbank Burgenland und Revisionsverband eGen (RLBB)
UniCredit S.p.A. (formerly UniCredito Italiano S.p.A.)

State-owned Banks

Hypo Alpe-Adria-Bank International A.G.
National Bank of Egypt (S.A.E.)

Receiving agencies

Private Sector

JSC Lateko banka (now PNB Banka, previously Norvik Banka)

Loan description

China Eximbank contributes to a EUR €21 million syndicated loan to Latvian bank Lateko banka for unspecified purposes in 2006

Interest rate (t₀)•3.88%Interest type•Variable Interest RateMaturity•1.5 years

Narrative

Full Description

Project narrative

On or around June 16, 2006, a syndicate of 11 lenders — including the Export-Import Bank of China — entered into a €21 million EUR syndicated loan agreement with Lateko banka for unspecified purposes.The facility carried an 18-month (1.5 year) maturity period and an interest rate of 75 basis points (bps) over Euribor. The loan will be repaid as a bullet. The facility was oversubscribed slightly from €20 million EUR to €21 million EUR during syndication. China Eximbank contributed €1 million EUR to and acted as manager on the facility. In addition to China Eximbank, the following lenders contributed these amounts to and played these roles on the syndicate: Kaupthing Bank (€5 million EUR); Raiffeisen Zentralbank Österreich A.G. (RZB) (€5 million EUR); Raiffeisenlandesbank Burgenland (€2 million EUR, lead manager); National Bank of Egypt (€2 million EUR, lead manager); Bankgesellschaft Berlin AG (now Landesbank Berlin Holding AG) (€1 million EUR, manager); Latvijas Hipoteku (€1 million EUR, manager); Hypo Alpe-Adria-Bank (€1 million EUR, manager); Morsø Bank (€1 million EUR, manager); Raiffeisen-Landesbank Steierbank (€1 million EUR, manager); and Unicredit (€1 million EUR, manager).