Bank of Communications contributes USD 20 million to USD 500 million syndicated loan for Techcombank (Linked to Project ID #98246 and #98247)
Commitment amount
$ 22336740.04774798
Adjusted commitment amount
$ 22336740.05
Constant 2021 USD
Summary
Funding agency [Type]
China Bank of Communications (BoCom or BoComm) [State-owned Commercial Bank]
Recipient
Vietnam
Sector
Banking and financial services (Code: 240)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
No
Category
Project lifecycle
Description
In April 2020, Vietnam Technological and Commercial Joint Stock Bank (Techcombank) entered into a USD 500 million syndicated loan facility with twenty-five lenders. 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. This loan carries the following borrowing terms: a three-year maturity and an interest rate of LIBOR plus a 1.5% margin. The loan will be used for general corporate purposes. The contribution of ICBC is captured in Project ID #98246, Bank of Communication is captured in Project ID #98248, and China Construction Bank is captured in Project ID #98247
Additional details
1. AidData has estimated the interest rate by adding 1.5% to the average six-month LIBOR in April 2020 (1.068%).
Number of official sources
0
Number of total sources
1
Details
Cofinanced
Yes
Cofinancing agencies [Type]
United Overseas Bank Limited (UOB) [Private Sector]
First Abu Dhabi Bank (FAB) [State-owned Bank]
Australia and New Zealand Banking Group (ANZ) [Private Sector]
CTBC Bank [Private Sector]
Taishin International Bank (Taishin Bank) [Private Sector]
State Bank of India (SBI) [State-owned Bank]
Industrial and Commercial Bank of China (ICBC) [State-owned Commercial Bank]
Bank SinoPac [Private Sector]
Chang Hwa Commercial Bank Limited [Private Sector]
China Construction Bank Corporation (CCB) [State-owned Commercial Bank]
Taiwan Shin Kong Commercial Bank [Private Sector]
Bank of Taiwan [State-owned Bank]
KGI Bank [Private Sector]
Taichung Commercial Bank [Private Sector]
Sunny Bank [Private Sector]
Taiwan Cooperative Bank [State-owned Bank]
Yuanta Commercial Bank (Yuanta Bank) [Private Sector]
Export-Import Bank of the Republic of China, Taipei [State-owned Bank]
E.SUN Commercial Bank, Ltd. [Private Sector]
Hua Nan Commercial Bank, Ltd. (HNCB) [Private Sector]
Mega International Commercial Bank Co., Ltd. [Private Sector]
The Shanghai Commercial & Savings Bank, Ltd. (SCSB) [Private Sector]
Bank of Panhsin (BOP) (formerly Panchiao Credit Cooperatives (PCC)) [Private Sector]
Direct receiving agencies [Type]
Vietnam Technological and Commercial Joint Stock Bank (Techcombank) [Private Sector]
Loan Details
Maturity
3 years
Interest rate
2.568%
Grant element (OECD Grant-Equiv)
9.5266%