ICBC contributes USD 24 million to USD 210 million syndicated loan for Truong Hai Auto Corporation (Linked to Project ID #98229)
Commitment amount
$ 26965550.694291346
Adjusted commitment amount
$ 26965550.69
Constant 2021 USD
Summary
Funding agency [Type]
Industrial and Commercial Bank of China (ICBC) [State-owned Commercial Bank]
Recipient
Vietnam
Sector
Industry, mining, construction (Code: 320)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
No
Category
Project lifecycle
Description
In December 2019, Vietnamese car manufacturer Truong Hai Auto Corporation signed a syndicated loan agreement worth USD 210 million with ten banks. Standard Chartered, the mandated lead arranger and book-runner, and Oversea-Chinese Banking Corporation each contributed USD 35 million to the syndication. KEB Hana Bank contributed USD 25 million. CIMB Bank (through its Labuan offshore branch), Industrial and Commercial Bank of China (Hanoi city branch) (captured in Project ID #98230), and Bank of China (captured in Project ID #98229) each contributed USD 24 million. Woori Bank contributed USD 16 million. CTBC Bank contributed USD 15 million. Finally, Hua Nan Commercial Bank contributed a total of USD 12 million to the syndicate, split evenly between its Singapore and offshore banking branches. The borrowing terms are unknown.
Number of official sources
0
Number of total sources
1
Details
Cofinanced
Yes
Cofinancing agencies [Type]
Standard Chartered Bank PLC [Private Sector]
Oversea-Chinese Banking Corporation, Limited (OCBC Bank) [Private Sector]
KEB Hana Bank of Korea [Private Sector]
CIMB [Private Sector]
Bank of China (BOC) [State-owned Commercial Bank]
Woori Bank [Private Sector]
CTBC Bank [Private Sector]
Hua Nan Commercial Bank, Ltd. (HNCB) [Private Sector]
Direct receiving agencies [Type]
Truong Hai Auto Corporation [Private Sector]