Overview

ICBC (London) contributes to $120 million USD syndicated loan to Bank Muscat International for unspecified purposes

Commitments (Constant USD, 2023)$12,461,734

Commitment Year•2007Country of Activity•BahrainDirect Recipient Country of Incorporation•OmanOverseas Jurisdiction•United KingdomSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jul 15, 2007

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

ICBC (London) PLC

Cofinancing agencies

Joint Venture/Special Purpose Vehicles

Gulf International Bank B.S.C. (GIB)

Private Sector

Bank Muscat
Commerzbank Aktiengesellschaft (Commerzbank AG)
Commonwealth Bank of Australia (CBA) (CommBank)
Deutsche Pfandbriefbank AG (PBB) (Formerly DEPFA Bank plc)
First Commercial Bank Limited
Lloyds Bank plc (formerly Lloyds TSB Bank PLC)
Mizuho Corporate Bank, Ltd. (MHCB)
Raiffeisen Bank
Union de Banques Arabes et Francaises (UBAF)

State-owned Banks

Arab Banking Corporation (Bank ABC)
Bayerische Landesbank (BayernLB)
Emirates NBD Bank P.J.S.C.
LRP Landesbank Rheinland-Pfalz

State-owned Commercial Banks

China CITIC Bank International Limited (formerly CITIC Ka Wah Bank)

Receiving agencies

Private Sector

BankMuscat International (BMI)

Loan description

2007 syndicated $120 million USD loan from ICBC (London), CITIC Ka Wa Bank Limited, and others to Bank Muscat International for unspecified purposes in Bahrain

Interest type•Unknown

Narrative

Full Description

Project narrative

On July 15, 2007, a syndicate of 16 banks — including ICBC (London) Limited — signed a $120 million USD syndicated loan agreement with Bahrain-based Bank Muscat International (BMI). The terms of the loan are unknown. Proceeds from the loan will be used for unspecified purposes. The syndicated loan was originally set at $75 million USD. Due to strong interest, however, BankMuscat elected to increase the loan amount to $120 million USD, an oversubscription of 20%. The participating institutions included Bank Muscat, Commerzbank Aktiengesellschaft; Mizuho Corporate Bank Ltd.; Arab Banking Corporation; Bayerische Landersbank; Gulf International Bank; Lloyds TSB Bank; National Bank of Dubai; Commonwealth Bank of Australia; CITIC Ka Wa Bank Limited; First Commercial Bank Ltd. London Branch; ICBC (London) Limited; LRP Landesbank Rheinland-Pfalz - Member of LBBW Group; Raiffeisenlandesbank Niederoesterreich - Wien AG; DEPFA Investment Bank Ltd and Union de Banques Arabes et Francaises – U.B.A.F. Record ID#98569 captures ICBC's contribution. Record ID#98648 captures CITIC Ka Wa Bank Limited's contribution.

Staff comments

1. The individual contributions of the banks that participated in the $120,000,000 USD syndicated loan are unknown. For the time being, AidData assumes equal contributions ($7,500,000 USD) across all 16 members of the loan syndicate.