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Overview

ICBC (Asia) contributes $22.5 million USD to a $150 million USD syndicated loan to Industrial Bank of Korea for unspecified purposes

Commitments (Constant USD, 2023)$51,943,169
Commitment Year•2002Country 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
Dec 19, 2002
Last repayment (originally scheduled)
Dec 18, 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

  • Industrial and Commercial Bank of China (Asia) Limited (ICBC (Asia))

Cofinancing agencies

Private Sector

  • Hamburgische Landesbank Girozentrale
  • JPMorgan Chase Bank, N.A. (Chase Bank, formerly the Chase Manhattan Bank)
  • MUFG Securities Asia Limited (formerly Tokyo-Mitsubishi International (HK) Limited)
  • Oversea-Chinese Banking Corporation, Limited (OCBC Bank)

State-owned Banks

  • Landesbank Baden-Württemberg (LBBW)

State-owned Commercial Banks

  • Bank of China (BOC)

Receiving agencies

State-owned Banks

  • Industrial Bank of Korea (IBK)

Loan description

December 2002 $150 million USD syndicated loan to Industrial Bank of Korea for unspecified purposes in South Korea

Interest type•UnknownMaturity•3 years

Narrative

Full Description

Project narrative

On December 19, 2002, a syndicate of seven banks — including the Seoul Branch of the Bank of China (BOC) and Industrial and Commercial Bank of China (Asia) Limited (ICBC (Asia)) — entered into a $150 million USD syndicated facility agreement with Industrial Bank of Korea (IBK) — a majority South Korean state-owned bank headquartered in Seoul — for unspecified purposes. This loan carried a maturity period of three years. Record ID#110601 captures BOC's contribution. Record ID#110602 captures ICBC's contribution. In addition to BOC and ICBC (Asia), the following lenders contributed to the loan syndicate: JPMorgan Chase Bank, N.A. ($22.5 million USD), Landesbank Baden-Württemberg (LBBW) ($22.5 million USD), Oversea-Chinese Banking Corporation, Limited (OCBC Bank) ($22.5 million USD), Tokyo-Mitsubishi International (HK) Limited ($22.5 million USD), and Hamburgische Landesbank Girozentrale ($15 million USD). The Seoul Branch of BOC, ICBC Asia, JPMorgan, LBBW, OCBC Bank, and Tokyo-Mitsubishi International (HK) served as arrangers. Hamburgische Landesbank joined in general syndication as an arranger.