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Overview

Bank of China contributes $20 million USD to a $95 million USD tranche of a $240 million USD syndicated loan to Shinhan Bank for unspecified purposes

Commitments (Constant USD, 2023)$46,171,706
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
Dec 20, 2002
Last repayment (originally scheduled)
Dec 19, 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 (BOC)

Cofinancing agencies

Private Sector

  • ABN AMRO Bank NV
  • Barclays Corporate and Investment Bank (Formerly Barclays Capital)
  • BNP Paribas S.A.
  • Citigroup Inc.
  • ING Bank N.V.
  • Lloyds Bank plc (formerly Lloyds TSB Bank PLC)
  • National City Corporation (National City Bank (NCB)) (NatCity)
  • Standard Chartered Bank PLC
  • WGZ Bank

State-owned Banks

  • Banca Monte dei Paschi di Siena S.p.A. (MPS) (BMPS)

Receiving agencies

Private Sector

  • Shinhan Bank Co., Ltd.

Loan description

Bank of China contributes to a USD $240 million syndicated loan to Shinhan Bank for unspecified purposes in South Korea in 2002

Interest type•UnknownMaturity•3 years

Narrative

Full Description

Project narrative

On December 20, 2002, a syndicate of 11 banks — including the Seoul Branch of the Bank of China (BOC) — entered into a $240 million USD syndicated facility agreement with Shinhan Bank Co., Ltd. — a South Korean bank headquartered in Seoul wholly-owned by Shinhan Financial Group Co., Ltd., a financial holding company headquartered in Seoul and listed on the Korea Exchange — for unspecified purposes. The loan was divided into a $95 million USD tranche with a maturity period of three years, a $89 million USD tranche with a maturity period of two years, and a $56 million USD tranche with a maturity period of 365 days. BOC contributed $20 million USD to the $95 million USD tranche. In addition to BOC, the following lenders contributed to the loan syndicate in the respective amounts: Citigroup ($25 million USD), ABN AMRO Bank NV ($17 million USD), BNP Paribas S.A. ($15 million USD), Standard Chartered Bank PLC ($13 million USD), and WGZ Bank ($5 million USD). BOC did not contribute to the $89 million USD tranche, which was provided by the following lenders in the respective amounts: Barclays Capital ($37 million USD), ABN AMRO Bank ($20 million USD), Standard Chartered Bank ($12 million USD), Citigroup ($10 million USD), and BNP Paribas ($10 million USD). BOC did not contribute to the $56 million USD tranche, which was provided by the following lenders in the respective amounts: Lloyds TSB Bank plc ($25 million USD), the Seoul Branch of ING Bank N.V. ($20 million USD), National City Bank ($6 million USD), and the Singapore Branch of Banca Monte dei Paschi di Siena S.p.A. (BMPS) ($5 million USD). The Seoul Branch of BOC, ABN AMRO, Barclays Capital, Citigroup, BNP Paribas, Standard Chartered Bank, Lloyds, and the Seoul Branch of ING Bank served as co-ordinating arrangers. National City Bank, the Singapore Branch of BMPS, and WGZ Bank served as lead managers. The loan was increased due to oversubscription from its $180 million USD target ($5 million USD).