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
Project lifecycle
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
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%