Narrative
Full Description
Project narrative
In April 2020, Vietnam Technological and Commercial Joint Stock Bank (Techcombank) entered into a USD 500 million syndicated loan facility with twenty-five lenders. This loan carried the following borrowing terms: a three-year maturity and an interest rate of LIBOR plus a 1.5% margin. The loan was to be used for general corporate purposes. United Overseas Bank contributed USD 50 million and First Abu Dhabi Bank provided USD 35 million. ANZ, CTBC Bank, Taishin International Bank, Bank SinoPac, Bank of Communications, Chang Hwa Commercial Bank, China Construction Bank, and Taiwan Shin Kong Commercial Bank each contributed USD 20 million. State Bank of India provided USD 48 million and the Industrial and Commercial Bank of China (ICBC) contributed USD 26 million. Hua Nan Commercial Bank provided a total of USD 28 million with USD 20 million through its offshore banking unit and the remaining USD 8 million through its Singapore Branch. Bank of Taiwan, E. Sun Commercial Bank, KGI Bank, Taichung Bank, and Sunny Bank each contributed USD 15 million. Finally, Bank of Panhsin, Export-Import Bank of the Republic of China, Shanghai Commercial and Savings Bank, Taiwan Cooperative Bank, and Yuanta Bank each provided USD 10 million to the syndicate. The contribution of ICBC is captured in Record ID#98246, Bank of Communications is captured in Record ID#98248, and China Construction Bank is captured in Record ID#98247
Staff comments
1. AidData has estimated the interest rate by adding 1.5% to the average six-month LIBOR in April 2020 (1.068%).