China Eximbank contributes $10 million USD to a $465 million USD syndicated loan to Hindustan Petroleum Corporation for unspecified purposes

In late September 2011, a syndicate of 16 banks — including the Export-Import Bank of China — signed a $465 million USD syndicated loan agreement with Hindustan Petroleum Corporation (HPCL) — an Indian state-owned oil and gas company — for unspecified purposes. This loan carried a maturity period of five years and an interest rate of LIBOR plus a margin of 165 basis points. This loan was oversubscribed from its $300 million USD target during syndication. China Eximbank contributed $10 million USD. In addition to China Eximbank, the following lenders contributed the respective amounts to the loan syndicate: Bank of Tokyo Mitsubishi UFJ, Ltd. (BTMU) ($100 million USD), Sumitomo Banking Corporation (SMBC) ($100 million USD), and State Bank of India (SBI) ($100 million USD), Abu Dhabi Commercial Bank PJSC (ADCB) ($25 million USD), Monte dei Paschi ($20 million USD), Nova Scotia Capital ($30 million USD), Taiwan Cooperative Bank ($15 million USD), Bank of Taiwan ($10 million USD), Chinatrust Commercial Bank ($10 million USD), First Commercial Bank Limited ($10 million USD), Jih Sun International Bank (JSIB) ($10 million USD), Mega International Commercial Bank ($10 million USD), Chang Hwa Commercial Bank ($5 million USD), Hua Nan Commercial Bank (HNCB) ($5 million USD), and Taiwan Business Bank (TBB) ($5 million USD). BTMU, SMBC, and SBI served as bookrunners and mandated lead arrangers. ADCB, Monte dei Paschi, and Nova Scotia Capital served as lead arrangers. China Eximbank, Taiwan Cooperative Bank, Bank of Taiwan, Chinatrust Commercial Bank, First Commercial Bank, JSIB, and Mega International Commercial Bank served as arrangers. Chang Hwa Commercial Bank, HNCB, and TBB served as lead managers.

Additional details

1. A 6-Month LIBOR was assumed. The average 6-Month LIBOR rate for September 2011 was 0.522%. Therefore, the interest rate has been coded as 0.522% + 1.65% (165 basis points), or 2.172%. 2. "Hindustan attracts 13 lenders, raises $465m", which was published on October 4, 2011, states the loan signed the previous week; therefore, AidData has coded the commitment date as September 27, 2011, albeit with the commitment_date_field_estimated? as True.

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