Bank of China contributes $5.5 million USD to $100 million USD syndicated loan to India’s Corporation Bank in July 2006
Commitment amount
$ 11175719.96891187
Adjusted commitment amount
$ 11175719.97
Constant 2021 USD
Summary
Funding agency [Type]
Bank of China (BOC) [State-owned Commercial Bank]
Recipient
India
Sector
Banking and financial services (Code: 240)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
No
Category
Project lifecycle
Description
On July 6, 2006, India’s Corporation Bank signed a $100 million USD syndicated loan with a group of 11 banks. Mandated lead arrangers included Calyon, DZ Bank (Singapore) and Lloyds TSB Bank (London) contributing $14.75 million each, DBS Bank contributing $13 million, and BNP Paribas and Standard Chartered Bank contributing $7.625 each. Co-arrangeres included United Overseas Bank contributing $7 million, Banca Nazionale del Lavoro (Hong Kong) and Oversea-Chinese Banking Corporation providing $6 million each, and Bank of China contributing $5.5 million. The lead manager, Banca Intesa (Hong Kong), contributed $3 million. The loan carries a one year maturity period and has an interest rate of 5.702% (average 6-month LIBOR + 12 basis points). The proceeds of the loan were to be used for working capital purposes.
Additional details
1. This loan carried a 5.702% interest rate (AidData calculated the interest rate as follows: 5.582% [average 6-month LIBOR in July 2006] + 0.12% [12 basis points] = 5.702%).
Number of official sources
0
Number of total sources
2
Details
Cofinanced
Yes
Cofinancing agencies [Type]
Crédit Agricole Corporate and Investment Bank (CACIB) (Crédit Agricole CIB) (Formerly Calyon) (Formerly Crédit Agricole Indosuez (CAI)) [Private Sector]
DZ Bank AG [Private Sector]
Lloyds Bank [Private Sector]
DBS Bank [Private Sector]
BNP Paribas S.A. [Private Sector]
Standard Chartered Bank PLC [Private Sector]
United Overseas Bank Limited (UOB) [Private Sector]
Banca Nazionale del Lavoro S.p.A., Hong Kong [Private Sector]
Oversea-Chinese Banking Corporation, Limited (OCBC Bank) [Private Sector]
Intesa Sanpaolo S.P.A. [Private Sector]
Direct receiving agencies [Type]
Corporation Bank [Private Sector]
Loan Details
Maturity
1 years
Interest rate
5.702%
Grant element (OECD Grant-Equiv)
1.9054%