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Overview

Agricultural Bank of China contributes to $275 million syndicated loan to Alfa Bank for on-lending purposes

Commitments (Constant USD, 2023)$14,505,023
Commitment Year•2005Country of Activity•RussiaDirect Recipient Country of Incorporation•RussiaSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Nov 3, 2005
Last repayment (originally scheduled)
Nov 3, 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

  • Agricultural Bank of China (ABC)

Cofinancing agencies

Private Sector

  • Alpha Bank S.A.
  • Commerzbank Aktiengesellschaft (Commerzbank AG)
  • Dresdner Bank AG
  • DZ Bank AG
  • HSBC Bank PLC
  • ICICI Bank Limited
  • National Bank of Greece S.A. (NBG)
  • QNB Finansbank
  • Standard Bank of South Africa Limited (Standard Bank)
  • Sumitomo Mitsui Banking Corporation Europe Limited
  • The Bank of Tokyo-Mitsubishi, Ltd. (BTM)
  • Türkiye Garanti Bank BBVA

State-owned Banks

  • National Bank of Egypt (S.A.E.)
  • WestLB AG

Receiving agencies

Private Sector

  • Alfa-Bank JSC

Implementing agencies

Private Sector

  • Alfa-Bank JSC

Loan description

ABC contribution to $275 million syndicated loan to Alfa Bank for on-lending purposes

Interest rate (t₀)•5.51%Interest type•Variable Interest RateMaturity•1 years

Narrative

Full Description

Project narrative

On November 3, 2005, Alfa Bank signed a $275 million syndicated loan agreement with a group of 38 banks for on-lending purposes. The loan carried a 1-year (364-day) maturity and an interest rate of LIBOR plus a 1% margin. Participants in the loan syndicate included Agricultural Bank of China, ALPHA Bank A. E., the Bank of Tokyo-Mitsubishi, Ltd., Commerzbank Aktiengesellschaft, Dresdner Bank AG, DZ BANK AG (Deutsche Zentral-Genossenschaftsbank), Finansbank Holland, GarantiBank International N. V., HSBC Bank plc, ICICI Bank Limited, National Bank of Egypt (UK) Limited, National Bank of Greece S.A., Standard Bank Plc, State Bank of India, Sumitomo Mitsui Banking Corporation Europe Limited, and WestLB AG, among others.

Staff comments

1. AidData has estimated the all-in interest rate by adding 1% to average 6-month LIBOR in November 2005 (4.555%). 2. The size of Agricultural Bank of China’s contribution to the $275 million syndicated loan is unknown. For the time being, AidData assumes that all 38 members of the syndicate made equal contributions ($7,236,842).