Bank of China contributes $25 million USD of $350 million syndicated loan to Maybank
Commitment amount
$ 50798727.13141759
Adjusted commitment amount
$ 50798727.13
Constant 2021 USD
Summary
Funding agency [Type]
Bank of China (BOC) [State-owned Commercial Bank]
Recipient
Malaysia
Sector
Banking and financial services (Code: 240)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
No
Category
Project lifecycle
Description
On March 13, 2006, Malayan Banking Berhad (Maybank) signed an agreement for a USD $350 million syndicated term loan. This loan carried a maturity period of 5 years and an interest rate of LIBOR + 18 basis points. The loan was financially closed as of March 10, 2006. Bank of China (Malaysia) contributed $15 million USD as an arranger and Bank of China (Hong Kong) (BOCHK) contributed $10 million USD as a co-arranger. The exact purpose of the loan was unclear. The loan had 11 banks in the syndicate. Lead arrangers BayernLB lent $50 million. Barclays Capital and Citigroup lent $32.5 million each. Bank of Tokyo-Mitsubishi UFJ, Calyon, Fortis Bank (Hong Kong), KBC Bank, LBBW (Singapore), NordLB (Singapore), and Sumitomo Trust & Banking contributed $30 million apiece.
Additional details
1. To calculate the interest rate AidData took the average 6 month LIBOR for March 2006 and added 18 basis points. Libor was 5.049 % and + 0.18% = 5.229%. 2. While multiple branches of BOC contributed to the facility, one unified record has been created to capture the overall BOC contribution.
Number of official sources
2
Number of total sources
5
Details
Cofinanced
Yes
Cofinancing agencies [Type]
Bayerische Landesbank (BayernLB) [State-owned Bank]
Barclays Corporate and Investment Bank (Formerly Barclays Capital) [Private Sector]
Citigroup [Private Sector]
MUFG Bank, Ltd. (Formerly Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU)) [Private Sector]
Crédit Agricole Corporate and Investment Bank (CACIB) (Crédit Agricole CIB) (Formerly Calyon) (Formerly Crédit Agricole Indosuez (CAI)) [Private Sector]
Fortis Bank [Private Sector]
KBC Bank N.V. [Private Sector]
Landesbank Baden-Württemberg (LBBW) [State-owned Bank]
Norddeutsche Landesbank Girozentrale (NORD/LB) [State-owned Bank]
Sumitomo Mitsui Trust Bank, Limited (SMTB) [Private Sector]
Direct receiving agencies [Type]
Malayan Banking Berhad (Maybank) [Private Sector]
Loan Details
Maturity
5 years
Interest rate
5.229%
Grant element (OECD Grant-Equiv)
9.4278%