Bank of China (Hong Kong) contributes $13 million USD to $350 million USD syndicated loan for Vietnam’s Masan Group Corp. in March 2021
Commitment amount
$ 13000000.0
Adjusted commitment amount
$ 13000000.0
Constant 2021 USD
Summary
Funding agency [Type]
Bank of China (Hong Kong) Limited (BOCHK) [State-owned Commercial Bank]
Recipient
Vietnam
Sector
Business and other services (Code: 250)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
No
Category
Project lifecycle
Description
In March 2021, Bank of China (Hong Kong) contributed $13 million USD to a $350 million USD syndicated loan for Vietnam’s Masan Group Corp, an investment holding company operating in food and beverage and consumer retail industries. The loan carried a maturity period of three years and an interest rate of 3.451%. Loan proceeds were to be used for general working purposes, including increasing Masan Group’s stake in its subsidiary CrownX. The syndicated loan involved a total of 27 banks. Four mandated lead arrangers and bookrunners launched the loan into syndication in January at an initial size of $200 million USD. These banks were BNP Paribas (Singapore branch), Credit Suisse (Singapore branch), HSBC (Singapore branch) and Standard Chartered (Singapore branch). Each of these banks contributed $16.5 million USD to the loan. Lead arrangers for this loan included Bangkok Bank, Bank SinoPac’s offshore banking branch (OBU), Rabobank (Singapore branch), Maybank (Singapore branch), Mega International Commercial Bank OBU, and Sumitomo Mitsui Banking Corp (Singapore branch). Each of these banks contributed $15 million USD. Bank of China (Hong Kong), BDO Unibank (Hong Kong branch), Cathay United Bank, First Commercial Bank OBU, Hua Nan Commercial Bank OBU, Kookmin Bank, Taiwan Cooperative Bank (Manila branch), Taiwan Shin Kong Commercial Bank and Union Bank of Taiwan contributed $13 million USD each. Seven lenders joined as arrangers. Bank of Taiwan OBU provided $12 million USD, while Banque Internationale de Commerce, CTBC Bank (Singapore branch), Taichung Commercial Bank OBU, Taipei Fubon Bank, Taishin International Bank and Taiwan Business Bank OBU each provided $10 million USD. Bank of Panhsin earned the manager title with an allocation of $5 million USD.
Additional details
1. This loan carried a 3.451% interest rate (AidData calculated the interest rate as follows: 0.201% [average 6-month LIBOR in March 2021] + 3.25% [325 basis points] = 3.451%).
Number of official sources
0
Number of total sources
1
Details
Cofinanced
Yes
Cofinancing agencies [Type]
BNP Paribas S.A. [Private Sector]
Credit Suisse [Private Sector]
HSBC [Private Sector]
Standard Chartered Bank (Singapore) Limited [Private Sector]
Bangkok Bank Public Company Limited (BBL) [Private Sector]
Bank SinoPac [Private Sector]
Rabobank [Private Sector]
Malayan Banking Berhad (Maybank) [Private Sector]
Mega International Commercial Bank Co, Ltd., Offshore Banking Branch [Private Sector]
Sumitomo Mitsui Banking Corporation [Private Sector]
Banco de Oro (BDO) [Private Sector]
First Commercial Bank Limited [Private Sector]
KB Kookmin Bank [Private Sector]
Taiwan Cooperative Bank [State-owned Bank]
Taiwan Shin Kong Commercial Bank [Private Sector]
Union Bank of Taiwan (UBOT) [Private Sector]
Bank of Taiwan [State-owned Bank]
Banque Internationale de Commerce - BRED (Suisse) SA (BIC-BRED) [Private Sector]
CTBC Bank [Private Sector]
Taichung Commercial Bank [Private Sector]
Taipei Fubon Commercial Bank Co., Ltd. (Taipei Fubon Bank) [Private Sector]
Taishin International Bank (Taishin Bank) [Private Sector]
Taiwan Business Bank (TBB) [Private Sector]
Cathay United Bank [Private Sector]
Hua Nan Commercial Bank, Ltd. (HNCB) [Private Sector]
Bank of Panhsin (BOP) (formerly Panchiao Credit Cooperatives (PCC)) [Private Sector]
Direct receiving agencies [Type]
Masan Group Corporation [Private Sector]
Loan Details
Maturity
3 years
Interest rate
3.451%
Grant element (OECD Grant-Equiv)
8.3573%