China Eximbank contributes USD 9.25 million to USD 200 million syndicated loan for Rizal Commercial Banking Corporation for refinancing purposes
Commitment amount
$ 10434338.107755974
Adjusted commitment amount
$ 10434338.11
Constant 2021 USD
Summary
Funding agency [Type]
Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]
Recipient
Philippines
Sector
Banking and financial services (Code: 240)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
No
Category
Project lifecycle
Description
In September 2013, the Export-Important Bank of China (China Eximbank) contributed USD 9.25 million to a USD 200 million syndicated loan for Rizal Commercial Banking Corporation, a private bank in the Philippines. The book-runner, Standard Chartered, provided USD 10 million to the syndicate. Each mandated lead arranger provided USD 17 million; this group included Bank of East Asia, Commerzbank, CTBC Financial Holding, Doha Bank, First Gulf Bank, ING, Korea Development Bank, Raiffeisen Bank International, and United Overseas Bank. Lead arrangers each contributed USD 9.25 million; lead arrangers included Emirates NBD, China Eximbank, Mega International Commercial Bank, and Taiwan Cooperative Bank. This loan carried the following borrowing terms: a one-year maturity and an interest rate of LIBOR plus a 1.4% margin. The loan was intended for refinancing purposes.
Additional details
1. AidData has estimated the interest rate by adding 1.4% to the average six-month LIBOR in September 2013 (0.380%).
Number of official sources
0
Number of total sources
1
Details
Cofinanced
Yes
Cofinancing agencies [Type]
Standard Chartered Bank PLC [Private Sector]
Bank of East Asia Limited (BEA) [Private Sector]
Commerzbank [Private Sector]
CTBC Bank [Private Sector]
Doha Bank [Private Sector]
First Gulf Bank (FGB) [State-owned Bank]
ING Bank N.V. [Private Sector]
Korea Development Bank (KDB) [State-owned Bank]
Raiffeisen Bank International AG [Private Sector]
United Overseas Bank Limited (UOB) [Private Sector]
Emirates NBD Bank PJSC [State-owned Bank]
Taiwan Cooperative Bank [State-owned Bank]
Mega International Commercial Bank Co., Ltd. [Private Sector]
Direct receiving agencies [Type]
Rizal Commercial Banking Corporation [Private Sector]
Loan Details
Maturity
1 years
Interest rate
1.78%
Grant element (OECD Grant-Equiv)
3.7461%