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Overview

Bank of China participates in USD 400 million syndicated loan to Hindustan Petroleum Corporation

Commitments (Constant USD, 2023)$15,692,976
Commitment Year•2015Country of Activity•IndiaDirect Recipient Country of Incorporation•IndiaSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jun 1, 2015
Last repayment (originally scheduled)
Aug 30, 2018

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

  • Bank of China (BOC)

Cofinancing agencies

Private Sector

  • Australia and New Zealand Banking Group (ANZ)
  • Banco de Sabadell, S.A.
  • Bank of East Asia Limited (BEA)
  • BNP Paribas S.A.
  • DBS Bank Ltd.
  • Deutsche Bank AG
  • Gunma Bank
  • Mizuho Bank, Ltd.
  • National Bank of Kuwait S.A.K. (NBK)
  • Royal Bank of Scotland
  • Sumitomo Mitsui Trust Bank, Limited (SMTB)
  • United Overseas Bank Limited (UOB)

State-owned Banks

  • Bank of Taiwan

Receiving agencies

State-owned companies

  • Hindustan Petroleum Corporation Limited (HPCL)

Loan description

Bank of China contribution to USD 400 million syndicated loan to Hindustan Petroleum Corporation

Grant element•10.525%Interest rate (t₀)•2.37%Interest type•Fixed Interest RateMaturity•3.25 years

Narrative

Full Description

Project narrative

In June 2015, Bank of China participated in a USD 400 million syndicated loan to Hindustan Petroleum Corporation. The facility carried an interest rate of between 137 basis points and 143 basis points on a 100 basis point margin. The term of the loan was 39 months. DBS contributed USD 57.17 million, Mizuho contributed USD 57 million. Australia and New Zealand Bank, BNP Paribas, Deutsche Bank, Royal Bank of Scotland and United Overseas Bank contributed USD 36.166 million each. As arrangers, National Bank of Kuwait contributed USD 25 million and Sumitomo Mitsui Trust Bank contributed USD 20 million. As lead managers, Bank of China and Bank of Taiwan contributed USD 15 million each, while Gunma Bank, Banco de Sabadell, and Bank of East Asia contributed USD 10 million each.

Staff comments

1. The most conservative interest rate was assumed. 137 plus 100 basis points is an interest rate of 2.37%.