Bank of China (Hong Kong) contributes $10 million USD for $300 million USD syndicated loan to Bumiputra-Commerce Bank

On May 26 2006, Bumiputra-Commerce Bank, also known as CIMB Bank Ltd., signed an agreement for an USD $300 million syndicated term loan. Main financiers included Public Bank ($120 million commitment), BayernLB ($40 million) and ABN AMRO Bank, Bank of Tokyo-Mitsubishi UFJ, Citigroup Global Markets Asia and Standard Chartered Bank at $26.25 million each. Other contributing banks included Export-Import Bank of the Republic of China and Wachovia Bank committing $10 million apiece and Deutsche Bank (London) committing $5 million. This project captures the contribution of Bank of China (Hong Kong), which was $10 million. The loan terms included a maturity of 5 years and a floating interest rate of LIBOR +0.19% per annum. The loan matured on June 22, 2011. A corporate guarantee for the loan was issued by Bumiputra-Commerce bank. The exact purpose of the loan was not revealed.

Additional details

1. AidData calculated the interest rate by adding the average 6 month LIBOR rate in May 2006 to the basis points. May 2006 6M LIBOR was 5.289%. LIBOR + 0.19% would thus give an interest rate 5.479%. 2. The basis points added to LIBOR varied between a Finance Asia report and the CIMB annual report. AidData has used the figure given in the 2006 CIMB annual report (LIBOR + 0.19%) to calculate the interest rate.

Number of official sources

3

Number of total sources

7