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Overview

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 Record ID#98558, #98560, #98561)

Commitments (Constant USD, 2023)$42,565,055
Commitment Year•2017Country of Activity•MalaysiaDirect Recipient Country of Incorporation•MalaysiaSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jun 1, 2017
Last repayment
May 31, 2022

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Commercial Banks

  • China Bank of Communications (BoCom or BoComm)

Cofinancing agencies

Private Sector

  • Cathay United Bank
  • Chang Hwa Commercial Bank Limited
  • CTBC Bank (formerly Chinatrust Commercial Bank)
  • Far Eastern International Bank (FEIB)
  • Hua Nan Commercial Bank, Ltd. (HNCB)
  • KGI Bank
  • Mega International Commercial Bank Co., Ltd. (formerly International Commercial Bank of China)
  • Oversea-Chinese Banking Corporation, Limited (OCBC Bank)
  • Standard Chartered Bank PLC
  • Taishin International Bank (Taishin Bank)
  • Taiwan Business Bank (TBB)
  • Taiwan Shin Kong Commercial Bank
  • The Shanghai Commercial & Savings Bank, Ltd. (SCSB)

State-owned Banks

  • Bank of Kaohsiung (BOK)
  • Bank of Taiwan
  • Export-Import Bank of the Republic of China, Taipei
  • Land Bank of Taiwan Co., Ltd. (LBOT)

State-owned Commercial Banks

  • Agricultural Bank of China (ABC)
  • Bank of China (BOC)

Receiving agencies

State-owned Banks

  • CIMB Bank Berhad

Loan desecription

In 2017, Chinese banks contribute to USD 500 million Dual-Tranche Facility to CIMB for general banking purposes, Malaysia

Grant element•15.4117%Interest rate (t₀)•2.352%Interest type•Fixed Interest RateMaturity•5 years

Narrative

Full Description

Project narrative

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 Record ID#98558), Bank of Communications contributed USD 40 million (captured via Record ID#98559), Agricultural Bank of China contributed USD 32.5 million (captured via Record 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 Record 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.

Staff comments

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