Project ID: 96711

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

Commitment amount

$ 16834133.54368429

Adjusted commitment amount

$ 16834133.54

Constant 2021 USD

Summary

Funding agency [Type]

Bank of China (BOC) [State-owned Commercial Bank]

Recipient

India

Sector

Industry, mining, construction (Code: 320)

Flow type

Loan

Level of public liability

Other public sector 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

2015-06-01

Description

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.

Additional details

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

Number of official sources

0

Number of total sources

1

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Details

Cofinanced

Yes

Cofinancing agencies [Type]

Development Bank of Singapore (DBS) [Private Sector]

Mizuho Bank [Private Sector]

Australia and New Zealand Banking Group (ANZ) [Private Sector]

BNP Paribas S.A. [Private Sector]

Deutsche Bank [Private Sector]

Royal Bank of Scotland [Private Sector]

United Overseas Bank Limited (UOB) [Private Sector]

National Bank of Kuwait S.A.K. (NBK) [Private Sector]

Sumitomo Mitsui Trust Bank, Limited (SMTB) [Private Sector]

Bank of Taiwan [State-owned Bank]

Gunma Bank [Private Sector]

Banco de Sabadell, S.A. [Private Sector]

Bank of East Asia Limited (BEA) [Private Sector]

Direct receiving agencies [Type]

Hindustan Petroleum Corporation [State-owned Company]

Loan Details

Maturity

3 years

Interest rate

2.37%

Grant element (OECD Grant-Equiv)

6.6711%

Syndicated loan