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Overview

Bank of China contributes $12 million USD to a $200 million USD syndicated loan to Korea Exchange Bank for unspecified purposes

Commitments (Constant USD, 2023)$27,703,024
Commitment Year•2002Country of Activity•KoreaDirect Recipient Country of Incorporation•KoreaOverseas Jurisdiction•KoreaSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Sep 25, 2002
Last repayment (originally scheduled)
Sep 24, 2004

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

  • Bank of Nova Scotia (Scotiabank)
  • Credit Lyonnais
  • KBC Bank N.V.
  • Lloyds Bank plc (formerly Lloyds TSB Bank PLC)
  • Mashreqbank PSC
  • Natexis Banques Populaires
  • Oversea-Chinese Banking Corporation, Limited (OCBC Bank)
  • Standard Chartered Bank PLC
  • Sumitomo Mitsui Banking Corporation (SMBC)
  • Taiwan Business Bank (TBB)
  • UniCredit S.p.A. (formerly UniCredito Italiano S.p.A.)
  • United Overseas Bank Limited (UOB)
  • Wachovia Bank, N.A.

State-owned Banks

  • Baden-Württembergische Bank AG (BW-Bank)
  • Banca Monte dei Paschi di Siena S.p.A. (MPS) (BMPS)
  • Bayerische Landesbank (BayernLB)
  • Landesbank Schleswig-Holstein Girozentrale (LB Kiel)
  • LRP Landesbank Rheinland-Pfalz

Receiving agencies

Private Sector

  • Korea Exchange Bank (KEB)

Loan description

Bank of China contributes to a USD $200 million syndicated loan to Korea Exchange Bank for unspecified purposes in 2002

Interest type•UnknownMaturity•2 years

Narrative

Full Description

Project narrative

On September 25, 2002, a syndicate of 19 banks — including the Seoul Branch of the Bank of China (BOC) — entered into a $200,000,000 USD syndicated loan agreement with Korea Exchange Bank (KEB) — a South Korean bank listed on the Korea Exchange with Commerzbank AG as its largest shareholder (32.6% stake) — for unspecified purposes. This loan carried a maturity period of two years. BOC contributed $12 million USD. In addition to BOC, the following lenders contributed the following lenders: Credit Lyonnais ($15,000,000 USD), the Hong Kong Branch of Natexis Banques Populaires ($15,000,000 USD), Standard Chartered Bank PLC ($15,000,000 USD), Sumitomo Mitsui Banking Corporation (SMBC) ($15,000,000 USD), Landesbank Schleswig-Holstein Girozentrale (LB Kiel) ($15,000,000 USD), Oversea-Chinese Banking Corporation, Limited (OCBC Bank) ($15,000,000 USD), Bayerische Landesbank (BayernLB) ($14,000,000 USD), Lloyds TSB Bank plc ($14,000,000 USD), Wachovia Bank, N.A. ($14,000,000 USD), the Singapore Branch of KBC Bank N.V. ($10,000,000 USD), Bank of Nova Scotia (Scotiabank) ($10,000,000 USD), Mashreqbank PSC ($10,000,000 USD), the Hong Kong Branch of Baden-Württembergische Bank AG (BW-Bank) ($5,000,000 USD), LRP Landesbank Rheinland-Pfalz ($5,000,000 USD), UniCredito Italiano S.p.A. ($5,000,000 USD), United Overseas Bank Limited (UOB) ($5,000,000 USD), the Offshore Banking Branch of Taiwan Business Bank (TBB) ($4,000,000 USD), and Banca Monte dei Paschi di Siena (BMPS) ($2,000,000 USD). Credit Lyonnais, the Hong Kong Branch of Natexis Banques Populaires, Standard Chartered Bank, SMBC, LB Kirel, and OCBC Bank served as coordinating arrangers. BayernLB, Lloyds TSB Bank, and Wachovia served as arrangers. The Seoul Branch of BOC, the Singapore Branch of KBC Bank, Scotiabank, and Mashreqbank served co-arrangers. The Hong Kong Branch of BW-Bank, LRP Landesbank Rheinland-Pfalz, UniCredito, and UOL served as lead managers. The Offshore Banking Branch of TBB and BMPS served as senior managers. The loan was oversubscribed from its target by the borrower did not increase it..

Staff comments

1. The source refers to "KBD Bank NV, Singapore Branch" which AidData interpreted as a typo for "KBC Bank N.V., Singapore Branch". 2. The loan was scheduled to be signed on September 25, 2002, with allocations closed on September 19, 2002. AidData has assumed it was signed successfully.