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Overview

Bank of China contributes $50 million USD to a $500 million USD syndicated loan to Maybank for unspecified purposes

Commitments (Constant USD, 2023)$100,216,526
Commitment Year•2005Country of Activity•MalaysiaDirect Recipient Country of Incorporation•MalaysiaSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Feb 14, 2005
Last repayment
Feb 14, 2008

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% host country ownership

Funding agencies

State-owned Commercial Banks

  • Bank of China (BOC)

Cofinancing agencies

Private Sector

  • Barclays Corporate and Investment Bank (Formerly Barclays Capital)
  • Citigroup Inc.
  • Crédit Agricole Corporate and Investment Bank (CACIB) (Crédit Agricole CIB) (Formerly Calyon) (Formerly Crédit Agricole Indosuez (CAI))
  • Dresdner Bank AG
  • DZ Bank AG
  • Fortis Bank
  • Mizuho Corporate Bank, Ltd. (MHCB)
  • UFJ Bank

State-owned Banks

  • Bayerische Landesbank (BayernLB)
  • Hamburg Commercial Bank (HSOB) (Formerly HSH Nordbank AG)

Receiving agencies

Private Sector

  • Malayan Banking Berhad (Maybank)

Loan desecription

Bank of China contributes to a USD 500 million syndicated loan to Maybank

Grant element•8.887%Interest rate (t₀)•3.051%Interest type•Fixed Interest RateMaturity•3 years

Narrative

Full Description

Project narrative

In January 2005, a syndicate of 11 banks — including the Bank of China (BOC) — committed to providing a $500 million USD syndicated loan to Malayan Banking Berhad (Maybank), a Malaysian bank, for unspecified purposes. This term loan facility carried a maturity period of three years and an interest rate of LIBOR plus a margin of 18 basis points. Formal signing was scheduled on February 14, 2005 as allocations were being finalized, and the loan was successfully entered into. BOC contributed $50 million USD on a take-and-hold basis. In addition to BOC, the following lenders contributed to the loan syndicate, with their contributions (if known): Barclays Capital, Citigroup, Mizuho Corporate Bank (MHCB), Bayerische Landesbank (BayernLB) ($75 million USD), Calyon )($75 million USD), HSH Nordbank AG ($75 million USD), UFJ Bank ($75 million USD), Fortis Bank ($50 million USD), Dresdner Bank ($10 million USD), and DZ Bank ($10 million USD. Barclays Capital, Citigroup, and MHCB served as the mandated lead arrangers; the other lenders joined in sub-underwriting, which saw the loan oversubscribed and increased from its initial $400 million USD target and general syndication to not be launched.

Staff comments

1. As "Maybank Annual Report 2005" confirms the loan was successfully entered into and "Malaysia", made when all the lenders had joined, states that signing was planned for two weeks from then, on February 14, 2005, AidData has assumed the loan was successfully signed on that date. 2. A 6-month LIBOR was assumed. The average 6-month LIBOR for February 2005 was 2.891%. Therefore, the interest rate has been coded as 2.891% plus 0.16% (16 basis points), or 3.051%.