Bank of China (Kong Kong) contributes $10 million USD to Tranche A of a $300 USD syndicated loan for the State Bank of India in May 2007
Commitment amount
$ 17992643.828841
Adjusted commitment amount
$ 17992643.83
Constant 2021 USD
Summary
Funding agency [Type]
Bank of China (Hong Kong) Limited (BOCHK) [State-owned Commercial Bank]
Recipient
India
Sector
Banking and financial services (Code: 240)
Flow type
Loan
Level of public liability
Other public sector debt
Infrastructure
No
Category
Project lifecycle
Description
On May 28, 2007, a $300 million USD dual-tranche financing agreement for the Bank of India was signed as a club deal via a syndicate of 21 banks.The mandated arrangers include Banca Monte dei Paschi di Siena (Hong Kong Branch), Banco Bilbao Vizcaya Argentaria (Singapore Branch), Banco Popolare di Verona e Novara (London Branch), Bank of America (Taipei Offshore Banking Branch), Bank of China (Hong Kong), Bank of Tokyo-Mitsubishi UFJ (Singapore Branch), Barclays Capital, BNP Paribas, BRED Banque Populaire International, Calyon, Citibank (Bahrain), Credit Industriel et Commercial (Singapore Branch), Danske Bank, DBS Bank, DZ Bank, HSBC, Lehman Brothers Commercial Corp Asia, Mizuho Corporate Bank (Singapore Branch), RZB, Standard Chartered Bank and Svenska Handelsbanken. The loan is split into a $205 million USD one-year tranche and a $95 million USD three-year tranche. Tranche A - captured in Project ID#98322 - holds a one year maturity period and an interest rate of 5.449% (average 6-month LIBOR + 8 basis points). Loan proceeds are for general corporate purposes. In tranche A, Lehman Brothers Commercial Corp Asia committed $25 million, with Calyon, Citibank (Bahrain), Credit Industriel et Commercial (Singapore Branch), HSBC and Standard Chartered Bank contributing $20 million each. Bank of Tokyo-Mitsubishi UFJ and Barclays Capital held $15 million apiece, with Bank of America and Bank of China (Hong Kong) providing $10 million each. Banca Monte dei Paschi di Siena (Hong Kong Branch), Banco Bilbao Vizcaya Argentaria (Singapore Branch), Banco Popolare di Verona e Novara (London Branch), Mizuho Corporate Bank (Singapore Branch), RZB and Svenska Handelsbanken provided $5 million apiece.
Additional details
1. This loan carried a 5.449% interest rate (AidData calculated the interest rate as follows: 5.369% [average 6-month LIBOR in May 2007] + 0.08% [9 basis points] = 5.449%).
Number of official sources
1
Number of total sources
1
Details
Cofinanced
Yes
Cofinancing agencies [Type]
Banca Monte dei Paschi di Siena S.p.A. (MPS) (BMPS) [State-owned Bank]
Banco Bilbao Vizcaya Argentaria [Private Sector]
Banco Popolare di Verona e Novara [Private Sector]
Bank of America, N.A. [Private Sector]
MUFG Bank, Ltd. (Formerly Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU)) [Private Sector]
Barclays Corporate and Investment Bank (Formerly Barclays Capital) [Private Sector]
BNP Paribas S.A. [Private Sector]
Banque Internationale de Commerce - BRED (Suisse) SA (BIC-BRED) [Private Sector]
Calyon [Private Sector]
Citibank N.A. [Private Sector]
Credit Industriel et Commercial (CIC) [Private Sector]
Danske Bank A/S [Private Sector]
DBS Bank [Private Sector]
DZ Bank AG [Private Sector]
HSBC [Private Sector]
Lehman Brothers Inc. [Private Sector]
Mizuho Corporate Bank, Ltd. (MHCB) [Private Sector]
Standard Chartered Bank (Hong Kong) Limited [Private Sector]
Svenska Handelsbanken AB [Private Sector]
Raiffeisen Bank [Private Sector]
Direct receiving agencies [Type]
State Bank of India (SBI) [State-owned Bank]
Loan Details
Maturity
1 years
Interest rate
5.449%
Grant element (OECD Grant-Equiv)
1.5852%