Bank of Communications contributes USD 40 million to original tranche of USD 500 million syndicated dual-tranche loan to CIMB for general banking purposes (linked to project ID #98558, #98560, #98561)
Commitment amount
$ 46093526.28083895
Adjusted commitment amount
$ 46093526.28
Constant 2021 USD
Summary
Funding agency [Type]
China Bank of Communications (BoCom or BoComm) [State-owned Commercial Bank]
Recipient
Malaysia
Sector
Banking and financial services (Code: 240)
Flow type
Loan
Level of public liability
Other public sector debt
Infrastructure
No
Category
Project lifecycle
Description
In June 2017, a group of banks -- including Bank of China, Bank of Communications, and Agricultural Bank of China -- reached financial close on a USD 500 million syndicated dual-tranche loan to CIMB. Proceeds from the loan will be used for general banking purposes. The loan is divided into two tranches: A USD 400 million tranche (the "original tranche") carries a maturity of five years and an interest rate of LIBOR plus 92 basis points. Bank of China contributed USD 29 million to this tranche (captured via project ID #98558), Bank of Communications contributed USD 40 million (captured via project ID #98559), Agricultural Bank of China contributed USD 32.5 million (captured via project ID #98560), Standard Chartered contributed USD 22.7 million, OCBC contributed USD 35.1 million, Cathay United Bank contributed USD 25.3 million, CTBC Bank contributed USD 16.9 million, Bank of Taiwan contributed USD 23.5 million, Chang Hwa Commercial Bank contributed USD 20 million, each of Fair Eastern International Bank, Hua Nan Commercial Bank, KGI Bank, Land Bank of Taiwan, Mega International Commercial Bank, Shanghai Commercial and Savings Bank, Taishin International Bank, and Taiwan Business Bank contributed USD 15 million, with each of Bank of Kaohsiung, Export-Import Bank of the Republic of China, and Taiwan Shin Kong Commercial Bank contributing USD 10 million. A USD 100 million tranche (the "increase tranche" carries an unknown maturity and an interest rate of LIBOR plus 92 basis points. Bank of China contributed USD 22.5 million to this tranche (captured via project ID #98561), OCBC contributed USD 27.4 million, Cathay United Bank contributed USD 19.7 million, Standard Chartered contributed USD 17.3 million and CTBC Bank contributed USD 13.1 million.
Additional details
1. AidData has calculated the interest rate for this loan using the 6-month LIBOR for June 2017 (1.432%). For more information, see: https://www.global-rates.com/en/interest-rates/libor/american-dollar/2017.aspx
Number of official sources
0
Number of total sources
3
Details
Cofinanced
Yes
Cofinancing agencies [Type]
Standard Chartered Bank PLC [Private Sector]
Oversea-Chinese Banking Corporation, Limited (OCBC Bank) [Private Sector]
CTBC Bank [Private Sector]
Bank of Taiwan [State-owned Bank]
Chang Hwa Commercial Bank Limited [Private Sector]
Far Eastern International Bank (FEIB) [Private Sector]
KGI Bank [Private Sector]
Land Bank of Taiwan Co., Ltd. (LBOT) [State-owned Bank]
Taishin International Bank (Taishin Bank) [Private Sector]
Taiwan Business Bank (TBB) [Private Sector]
Bank of Kaohsiung (BOK) [Government Agency]
Export-Import Bank of the Republic of China, Taipei [State-owned Bank]
Taiwan Shin Kong Commercial Bank [Private Sector]
Agricultural Bank of China (ABC) [State-owned Commercial Bank]
Bank of China (BOC) [State-owned Commercial Bank]
Cathay United Bank [Private Sector]
Hua Nan Commercial Bank, Ltd. (HNCB) [Private Sector]
Mega International Commercial Bank Co., Ltd. [Private Sector]
The Shanghai Commercial & Savings Bank, Ltd. (SCSB) [Private Sector]
Direct receiving agencies [Type]
CIMB Bank Berhad [State-owned Bank]
Loan Details
Maturity
5 years
Interest rate
2.352%
Grant element (OECD Grant-Equiv)
7.9422%