Industrial and Commercial Bank of China participates in USD 250 million syndicated loan to No Va Land Investment Group
Commitment amount
$ 20066863.97500181
Adjusted commitment amount
$ 20066863.98
Constant 2021 USD
Summary
Funding agency [Type]
Industrial and Commercial Bank of China (ICBC) [State-owned Commercial Bank]
Recipient
Vietnam
Sector
Business and other services (Code: 250)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
No
Category
Project lifecycle
Description
In November 2019, Industrial and Commercial Bank of China participated in a USD 250 million syndicated loan to No Va Land Investment Group. The loan had a 42 month term and carried an interest rate of 425 basis points over LIBOR. Credit Suisse, Industrial and Commercial Bank of China, Taichung Commercial Bank, Taiwan Business Bank, and Taiwan Cooperative Bank participated as mandated lead arrangers and bookmakers (MLABs). OCBC was a mandated lead arranger, and Union Bank of Taiwan participated as lead arranger. Cathay United Bank, King’s Town Bank, Maybank, and Taishin International Bank joined as arrangers. Entie Commercial Bank, Far Eastern International Bank, and Sinopac Capital International participated as managers.
Additional details
1. AidData assumes equal contributions from all participants in a syndicate. USD 250 million divided by 14 participants is USD 17.86 million from each lender. 2. The November 2019 average LIBOR rate was 1.541%. 1.541% plus 425 basis points is an interest rate of 5.791%.
Number of official sources
1
Number of total sources
2
Details
Cofinanced
Yes
Cofinancing agencies [Type]
Credit Suisse [Private Sector]
Taichung Commercial Bank [Private Sector]
Taiwan Business Bank (TBB) [Private Sector]
Taiwan Cooperative Bank [State-owned Bank]
Oversea-Chinese Banking Corporation, Limited (OCBC Bank) [Private Sector]
Union Bank of Taiwan (UBOT) [Private Sector]
King's Town Bank [Private Sector]
Maybank International (L) Limited [Private Sector]
Taishin International Bank (Taishin Bank) [Private Sector]
Entie Commercial Bank [Private Sector]
Far Eastern International Bank (FEIB) [Private Sector]
Sinopac Capital International [Private Sector]
Cathay United Bank [Private Sector]
Direct receiving agencies [Type]
No Va Land Investment Group [Private Sector]
Loan Details
Maturity
4 years
Interest rate
5.791%
Grant element (OECD Grant-Equiv)
6.0434%