CMB Wing Lung Bank contributes $22 million to a syndicated loan to State Bank of India (Hong Kong) for general corporate and working capital purposes (Linked to Record ID#96699)

Project narrative

In June 2016, CMB Wing Lung Bank contributed $22 million in a $500 million syndicated loan to the State Bank of India (Hong Kong), an Indian state-owned bank. The loan had a three-year term (maturity) and the interest rate for this loan was 1.692%. Its other borrowing terms are unknown. Joint book-runners and mandated lead arrangers included BNP Paribas, Bank of America, Bank of Tokyo-Mitsubishi UFJ, Citi, DBS, HSBC, National Bank of Abu Dhabi, and Wells Fargo Bank. 77 Bank, Bank of Taiwan, Hua Nan Commercial Bank, KGI Bank, Land Bank of Taiwan, Shikoku Bank, and CMB Wing Lung Bank joined the syndicate as mandated lead arrangers. See Record ID#96813 for CMB Wing Lung Bank's contribution which was $22 million. The loan proceeds were to be used by the borrower for general corporate and working capital purposes. The leads collectively retained 60% of the deal on their books, with Bank of America Merrill Lynch keeping $50m, Bank of Tokyo-Mitsubishi UFJ $40m, and Wells Fargo $37.875m. BNP Paribas, Citi, DBS, HSBC, and National Bank of Abu Dhabi took $35.025m each. Among incoming lenders, the Bank of China received the maximum amount of $80m, while the Bank of Taiwan took $30m, Wing Lung Bank $22m, and Hua Nan Commercial Bank and KGI Bank $20m each. Land Bank of Taiwan and 77 Bank were allotted $10m apiece and Chugoku Bank received $5m.