Project ID: 98417

Bank of China contributes to a $600 million USD syndicated loan to United Telecommunications in 2017

Commitment amount

$ 27656115.768503368

Adjusted commitment amount

$ 27656115.77

Constant 2021 USD

Summary

Funding agency [Type]

Bank of China (BOC) [State-owned Commercial Bank]

Recipient

Oman

Sector

Business and other services (Code: 250)

Flow type

Loan

Level of public liability

Other public sector debt

Infrastructure

No

Category

Intent

Commercial (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

OOF-like (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Pipeline: Commitment (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2017-04-01

Description

In late April 2017, a $600 million USD syndicated loan to United Telecommunications (a subsidiary of the state-owned Oman Investment Fund) was signed. The facility, which comprises a $450m conventional tranche and a $150m Murabaha loan, will be used to finance the acquisition of a 51% stake in Oman Telecommunications. The interest rate was 3.618%. There were 25 lenders in total, 16 of which were Asian. Banca Imi, Citigroup, Kuwait Finance House and National Bank of Abu Dhabi were mandated lead arrangers and book runners on the deal. Bank of China, Korea Development Bank, Bank of Taiwan, Taichung Commercial Bank, and Taiwan Business Bank were among the Asian lenders.

Additional details

1. Aiddata calculates the interest rate from LIBOR plus a margin of 230 bps by adding the 6-month USD LIBOR rate in April 2007 (1.318%) + basis points (2.3%) = 3.618% 2. Since no further information was found, Aiddata estimates the transaction amount by assuming each lender contributed equally at $24,000,000

Number of official sources

0

Number of total sources

1

Download the dataset

Details

Cofinanced

Yes

Cofinancing agencies [Type]

Banca IMI [Private Sector]

Citigroup [Private Sector]

Kuwait Finance House [Private Sector]

National Bank of Abu Dhabi (NBA) [State-owned Bank]

Korea Development Bank (KDB) [State-owned Bank]

Bank of Taiwan [State-owned Bank]

Taichung Commercial Bank [Private Sector]

Taiwan Business Bank (TBB) [Private Sector]

Direct receiving agencies [Type]

United Telecommunications [Joint Venture/Special Purpose Vehicle]

Loan Details

Interest rate

3.618%

Syndicated loan

Project finance