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Overview

Bank of China contributes $10 million USD to a $140 million USD syndicated loan to Hyundai Capital Services for unspecified purposes

Commitments (Constant USD, 2023)$20,043,305
Commitment Year•2005Country 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
May 1, 2005
Last repayment (originally scheduled)
May 1, 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 Commercial Banks

  • Bank of China (BOC)

Cofinancing agencies

Private Sector

  • Chohung Bank Co., Ltd. (CHB)
  • Crédit Agricole Corporate and Investment Bank (CACIB) (Crédit Agricole CIB) (Formerly Calyon) (Formerly Crédit Agricole Indosuez (CAI))
  • CTBC Bank (formerly Chinatrust Commercial Bank)
  • HypoVereinsbank (HVB)
  • ING Bank N.V.
  • Mizuho Corporate Bank, Ltd. (MHCB)
  • SBI Shinsei Bank, Limited
  • Sumitomo Trust & Banking Co
  • The Chiba Bank, Ltd.

Receiving agencies

Private Sector

  • Hyundai Capital Service Inc. (HCS)

Loan description

Bank of China contributes to a USD $140 million syndicated loan to Hyundai Capital Services for unspecified purposes in South Korea in 2005

Interest type•UnknownMaturity•2 years

Narrative

Full Description

Project narrative

In May 2005, a syndicate of 10 banks — including the Bank of China (BOC) — entered into a $140 million USD syndicated loan agreement with Hyundai Capital Service Inc. (HCS) — a South Korea-incorporated provider of consumer financial services ranging from auto-financing, private financing, and corporate financing that acts as the financial service unit of Hyundai Motor Group headquartered in Seoul jointly owned by Hyundai Motor Company (56.12% stake) and by GE Capital Corporation, the financial services division of American multinational conglomerate General Electric Company (43.88% stake) — for unspecified purposes. The loan carried a maturity period of two years. BOC contributed $10 million USD to the loan syndicate. In addition to BOC, the following lenders contributed to the loan syndicate: Calyon ($40 million USD), ING Bank N.V. ($20 million USD), HypoVereinsbank (HVB) ($18 million USD), Chohung Bank Co., Ltd. (CHB) ($15 million USD), Shinsei Bank ($10 million USD), Sumitomo Trust and Banking Co ($10 million USD), Chinatrust Commercial Bank ($7 million USD), The Chiba Bank, Ltd. ($5 million USD), and Mizuho Corporate Bank, Ltd. (MHCB). Calyon served as mandated lead arranger. ING Bank joined in syndication as an equal status arranger. HVB and Chohung Bank joined in syndication as lead arrangers. BOC, Shinsei Bank, Sumitomo Trust & Banking, and Chinatrust Commercial Bank joined in syndication as arranger. Chiba and Mizuho Corporate Bank joined in syndication as co-arrangers.