Overview

Industrial and Commercial Bank of China participates in USD 140 million syndicated loan to VietJet

Commitments (Constant USD, 2023)$48,439,416

Commitment Year•2019Country of Activity•Viet NamDirect Recipient Country of Incorporation•Viet NamSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Nov 15, 2019

Start (actual): Nov 15, 2019

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

Industrial and Commercial Bank of China (ICBC)

Cofinancing agencies

Private Sector

Hana Bank Co., Ltd. (formerly KEB Hana Bank)
Woori Bank Co., Ltd.

Receiving agencies

Private Sector

VietJet Air

Loan description

ICBC contribution to USD 140 million syndicated loan to VietJet

Interest type•Unknown

Narrative

Full Description

Project narrative

On November 15, 2019, Industrial and Commercial Bank of China participated in a USD 140 million syndicated loan to VietJet. Loan terms are unknown. VietJet planned to use the money to purchase 20 long-range Airbus A321XLR narrow body planes to create new routes to the Middle East, Eastern Europe, and Australia. The other lenders in the syndicate were Woori Bank and KEB Hana Bank.

Staff comments

1. AidData assumes equal participation from each member of the syndicate. USD 140 million divided by 3 participants is a contribution of USD 46666666.67 from each lender.