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Overview

China Construction Bank contributes $30.5 million to $1 billion syndicated loan to help South African Reserve Bank support the country’s foreign currency position (Linked to Record ID#72441)

Commitments (Constant USD, 2023)$64,163,957
Commitment Year•2004Country of Activity•South AfricaDirect Recipient Country of Incorporation•South AfricaSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jul 19, 2004
Last repayment
Dec 31, 2006

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

  • China Construction Bank Corporation (CCB)

Cofinancing agencies

Private Sector

  • ABN AMRO Bank NV
  • Bank of America Securities Ltd
  • Bank of New York
  • Barclays Bank PLC
  • Bayerische Hypo- und Vereinsbank AG
  • BMO Financial Group (Bank of Montreal)
  • BNP Paribas S.A.
  • CIBC World Markets plc
  • Citibank, N.A.
  • Commerzbank Aktiengesellschaft (Commerzbank AG)
  • Crédit Agricole Corporate and Investment Bank (CACIB) (Crédit Agricole CIB) (Formerly Calyon) (Formerly Crédit Agricole Indosuez (CAI))
  • Deutsche Bank AG
  • Dexia Investments Ireland
  • Dresdner Kleinwort
  • Erste Group Bank AG (Erste Group)
  • Goldman Sachs Bank USA
  • HSBC (Hong Kong and Shanghai Banking Corporation)
  • ING Bank N.V.
  • JPMorgan Chase & Co.
  • Kredietbank ABB Insurance CERA Bank (KBC)
  • Lloyds Bank plc (formerly Lloyds TSB Bank PLC)
  • Mizuho Bank, Ltd.
  • Natexis Banques Populaires
  • Raiffeisen Zentralbank Österreich A.G. (RZB)
  • Rand Merchant Bank (RMB)
  • Société Générale Corporate and Investment Banking (SGCIB)
  • Standard Bank London Ltd
  • Sumitomo Mitsui Banking Corporation (SMBC)
  • The Bank of Tokyo-Mitsubishi, Ltd. (BTM)
  • UFJ Bank
  • UniCredit Bank Austria AG (formerly Bank Austria-Creditanstalt (BA-CA))
  • WGZ Bank

State-owned Banks

  • Bank of Taiwan
  • Bayerische Landesbank (BayernLB)
  • Hamburg Commercial Bank (HSOB) (Formerly HSH Nordbank AG)
  • WestLB AG

State-owned Commercial Banks

  • Bank of China (BOC)

Receiving agencies

Government Agencies

  • South African Reserve Bank (SARB)

Loan desecription

In 2004, China Construction Bank and Bank of China contribute to USD 1 billion syndicated loan to South African Reserve Bank to support the country’s foreign currency position

Grant element•10.1397%Interest rate (t₀)•2.105%Interest type•Variable Interest RateLoan tenor•3-month rateMaturity•3 years

Narrative

Full Description

Project narrative

On July 19, 2004, South African Reserve Bank announced that it had entered into a $1 billion loan facility agreement with a syndicate of 39 banks and financial institutions. The loan had a 3 year maturity and an interest rate of 2.103%. The borrower was able to draw down on the loan in USD and/or Euro in order to support the country’s foreign currency position. As a Lead Manager of the syndicate, Bank of China committed $11.3 million. As a Mandated Lead Arranger of the syndicate, China Construction Bank committed $30.5 million. Record ID#72441 captures Bank of China’s contribution to the loan syndicate and Record ID#72443 captures China Construction Bank’s contribution to the loan syndicate.