Overview

ICBC contributes USD 24 million to USD 210 million syndicated loan for Truong Hai Auto Corporation (Linked to Record ID#98229)

Commitments (Constant USD, 2023)$24,911,700

Commitment Year•2019Country of Activity•Viet NamDirect Recipient Country of Incorporation•Viet NamOverseas Jurisdiction•Viet NamSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Dec 1, 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% Chinese ownership

Funding agencies

State-owned Commercial Banks

Industrial and Commercial Bank of China (ICBC)

Cofinancing agencies

Private Sector

CIMB Group
CTBC Bank (formerly Chinatrust Commercial Bank)
Hana Bank Co., Ltd. (formerly KEB Hana Bank)
Hua Nan Commercial Bank, Ltd. (HNCB)
Oversea-Chinese Banking Corporation, Limited (OCBC Bank)
Standard Chartered Bank PLC
Woori Bank Co., Ltd.

State-owned Commercial Banks

Bank of China (BOC)

Receiving agencies

Private Sector

Truong Hai Auto Corporation

Loan desecription

BOC and ICBC contribution to USD 210 million syndicated loan for Truong Hai Auto Corporation

Interest type•Unknown

Narrative

Full Description

Project narrative

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 Record ID#98230), and Bank of China (captured in Record 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.