Overview

China Construction Bank contributes $10 million USD to a $1 billion USD syndicated loan to Vedanta Resources for Sesa Goa purchase

Commitments (Constant USD, 2023)$14,084,461

Commitment Year•2008Country of Activity•IndiaDirect Recipient Country of Incorporation•United KingdomSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Aug 1, 2008

Last repayment (originally scheduled): Jul 31, 2013

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Funding agencies

State-owned Commercial Banks

China Construction Bank Corporation (CCB)

Cofinancing agencies

Private Sector

ABN AMRO Bank NV
Bank of East Asia Limited (BEA)
Bank of Nova Scotia (Scotiabank)
Barclays Bank PLC
Chang Hwa Commercial Bank Limited
Citigroup Inc.
Crédit Agricole Corporate and Investment Bank (CACIB) (Crédit Agricole CIB) (Formerly Calyon) (Formerly Crédit Agricole Indosuez (CAI))
CTBC Bank (formerly Chinatrust Commercial Bank)
DBS Bank Ltd.
First Commercial Bank Limited
Intesa Sanpaolo S.P.A. (formerly Cariplo/Banca Intesa/BCI)
Mizuho Financial Group (MHFG)
MUFG Bank, Ltd. (Formerly Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU))
Natixis
Standard Chartered Bank PLC
Sumitomo Mitsui Banking Corporation (SMBC)
Taishin International Bank (Taishin Bank)
Westdeutsche Landesbank Girozentrale

State-owned Banks

Bank of Baroda
Bayerische Landesbank (BayernLB)
First Gulf Bank (FGB)
State Bank of India (SBI)

State-owned companies

Indian Bank

Receiving agencies

Private Sector

Vedanta Resources plc

Loan desecription

China Construction Bank contribution to USD 1 billion syndicated loan to Vedanta Resources for Sesa Goa purchase

Interest type•UnknownMaturity•5 years

Narrative

Full Description

Project narrative

In August 2008, China Construction Bank participated in a USD 1 billion syndicated loan to Vedanta Resources to restructure their April 2007 USD 1.1 billion loan to acquire a 51% controlling stake in the Indian iron ore mining company Sesa Goa. China Construction Bank's contribution was USD 10 million. 24 banks participated in the syndicate as follows: ABN Amro Bank, now part of RBS US,: USD 66.8 million, Bank of Baroda: USD 66.8 million, Bank of East Asia: USD 5.0 million, Bank of Tokyo-Mitsubishi UFJ: USD 66.8 million, Barclays: USD 66.8 million, Bayerische Landesbank: USD 25.0 million, Calyon, part of Crédit Agricole,: USD 66.8 million, Chang Hwa Commercial Bank: USD 15.0 million, China Construction Bank: USD 10.0 million, Chinatrust Financial Holding: USD 15.0 million, Citigroup: USD 66.8 million, DBS Bank: USD 25.0 million, First Commercial Bank: USD 5.0 million. First Gulf Bank: USD 10.0 million, Indian Bank: USD 20.0 million, Intesa SanPaolo: USD 25.0 million, Mizuho Financial Group: USD 66.8 million, Natixis: USD 50.0 million, Scotiabank-Bank of Nova Scotia: USD 50.0 million, Standard Chartered Bank: USD 66.8 million, State Bank of India: USD 66.8 million, Sumitomo Mitsui Banking Corp: USD 66.8 million, Taishin International Bank: USD 10.0 million, Westdeutsche Landes Giro: USD 66.8 million.