Project ID: 63500

CDB provides $90 million loan to Seaspan Corporation to re-finance four 4250 TEU containerships

Commitment amount

$ 101004801.26210572

Adjusted commitment amount

$ 101004801.26

Constant 2021 USD

Summary

Funding agency [Type]

China Development Bank (CDB) [State-owned Policy Bank]

Recipient

Marshall Islands

Sector

Transport and storage (Code: 210)

Flow type

Loan

Level of public liability

Private debt

Infrastructure

No

Category

Intent

Commercial (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

OOF-like (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Implementation (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2015-12-09

Actual start

2015-12-09

Description

On December 9, 2015, China Development Bank entered into a $90,000,000 term loan facility agreement with Seaspan Corporation to re-finance four 4250 TEU containerships. Payment of the loan is due on the first and third anniversary of its drawdown date. The loan bears interest at LIBOR plus an unknown margin.

Additional details

1. 6 month LIBOR in December 2015 was equal to 0.764%.

Number of official sources

2

Number of total sources

2

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Details

Cofinanced

No

Direct receiving agencies [Type]

Seaspan Corporation [Private Sector]

Loan Details

Bilateral loan

Refinancing