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Overview

Bank of China (Hong Kong) contributes $10 million USD to a $250 million USD syndicated loan to Chohung Bank 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•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Nov 15, 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 (Hong Kong) Limited (BOCHK)

Cofinancing agencies

Private Sector

  • American Express Bank Ltd
  • Anglo Irish Bank plc
  • Banco Popolare di Verona e Novara
  • Crédit Agricole Corporate and Investment Bank (CACIB) (Crédit Agricole CIB) (Formerly Calyon) (Formerly Crédit Agricole Indosuez (CAI))
  • DBS Bank Ltd.
  • DZ Bank AG
  • Lloyds Bank plc (formerly Lloyds TSB Bank PLC)
  • Natexis Banques Populaires
  • National City Corporation (National City Bank (NCB)) (NatCity)
  • Oversea-Chinese Banking Corporation, Limited (OCBC Bank)
  • Raiffeisen Zentralbank Österreich A.G. (RZB)
  • Standard Chartered Bank PLC
  • Sumitomo Mitsui Banking Corporation (SMBC)
  • Toronto-Dominion Bank (TD Bank Group)
  • WGZ Bank

State-owned Banks

  • Bayerische Landesbank (BayernLB)
  • Hamburg Commercial Bank (HSOB) (Formerly HSH Nordbank AG)
  • Landesbank Baden-Württemberg (LBBW)
  • Zurich Cantonal Bank (Zürcher Kantonalbank (ZKB))

Receiving agencies

Private Sector

  • Chohung Bank Co., Ltd. (CHB)

Loan description

Bank of China (Hong Kong) contributes $10 million USD to a $250 million USD syndicated loan to Chohung Bank for unspecified purposes

Interest type•UnknownMaturity•2.5 years

Narrative

Full Description

Project narrative

On November 15, 2005, a syndicate of 21 banks — including the Bank of China (Hong Kong) Limited (BOCHK) — signed a $250 million USD syndicated loan agreement with Chohung Bank Co., Ltd. (CHB) — a South Korean bank headquartered in Seoul then wholly-owned by Shinhank Bank — for unspecified purposes. The loan consisted of portions with a maturity period of two years and a maturity period of three years. BOCHK contributed $10 million USD to the loan syndicate. In addition to BOCHK, the following lenders contributed the respective amounts to the loan syndicate: Bayerische Landesbank (BayernLB) ($20 million USD), Natexis Banques Populaires ($20 million USD), Oversea-Chinese Banking Corporation, Limited (OCBC Bank) ($20 million USD), Sumitomo Mitsui Banking Corporation (SMBC) ($20 million USD), Calyon ($15 million USD), DBS Bank Ltd. ($15 million USD), NSH Nordbank ($15 million USD), Standard Chartered Bank PLC ($15 million USD), Lloyds TSB Bank ($18 million USD), Raiffeisen Zentralbank Österreich A.G. (RZB) ($18 million USD), Anglo Irish Bank plc (AIB) ($10 million USD), DZ Bank AG ($10 million USD), National City Bank ($10 million USD), WGZ Bank ($10 million USD), American Express Bank Ltd ($8 million USD), Zürcher Kantonalbank (ZKB) ($6 million USD), Banco Popolare di Verona e Novara ($4 million USD), Landesbank Baden-Württemberg (LBBW) ($3 million USD), and Toronto-Dominion Bank (TD Bank) ($3 million USD). BayernLB, Natexis Banques Populaires, OCBC Bank, SMBC, Calyon, DBS Bank, HSH Nordbank, and Standard Chartered Bank served as mandated lead arrangers. BOCHK, Lloyds TSB Bank, RZB, AIB, DZ Bank, National City Bank, and WGZ served as arrangers. American Express Bank and ZKB served as co-arrangers. Banco Popolare di Verona e Novara, LBBW, and TD Bank served as senior managers. The loan was increased from its $200 million USD target to $250 million USD due to oversubscription.

Staff comments

1. The sources state that a Landesbank was involved. AidData has assumed the Landesbank they were referring to Landesbank Baden-Württemberg (LBBW). 2. It is unclear whether BOCHK contributed to each tranche. Therefore, to code the maturity period, AidData has taken the average of the maturity periods {[(2 + 3) / 2] = 2.5 years} to code as the maturity period. 3. AidData assumes the loan was successfully signed on November 15, 2005, as allocations were done and signing was set to be done on that date as of November 11, 2005.