Overview

China Development Bank participates in $100 million syndicated loan with Bladex for trade finance purposes

Commitments (Constant USD, 2023)$69,365,888

Commitment Year•2009Country of Activity•PanamaDirect Recipient Country of Incorporation•PanamaSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Aug 20, 2009

Last repayment (originally scheduled): Aug 20, 2011

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 Policy Banks

China Development Bank (CDB)

Cofinancing agencies

Private Sector

Mizuho Bank, Ltd.

Receiving agencies

Private Sector

Banco Latinoamericano de Comercio Exterior (Bladex)

Loan description

China Development Bank participates in $100 million syndicated loan with Bladex for trade finance purposes in 2009

Grant element•6.297%Interest rate (t₀)•2.84281%Interest type•Variable Interest RateMaturity•2 years

Narrative

Full Description

Project narrative

On August 20, 2009, Mizuho Corporate Bank, Ltd. and China Development Bank Corporation (CDB) signed a $100 million syndicated loan with Banco Latinoamericano de Comercio Exterior, S.A. (Bladex), a regional Panama-based trade bank. The loan carried a two-year maturity and an interest rate of LIBOR plus a 2% margin. The proceeds of the loan were to be used by the borrower to promote foreign trade.

Staff comments

1. The size of CDB’s contribution to the $100 million syndicated loan is unknown. For the time being, AidData has assumed that the two known members of the syndicate each made equal contributions ($50 million) and coded accordingly. 2. AidData has estimated the all-in interest rate by adding 2% to average 6-month LIBOR in August 2009 (0.84281%).