ICBC contributes USD 20 million to club loan to Home Credit Vietnam for unspecified corporate purposes (linked to project ID #98597)
Commitment amount
$ 23046763.140419476
Adjusted commitment amount
$ 23046763.14
Constant 2021 USD
Summary
Funding agency [Type]
Industrial and Commercial Bank of China (ICBC) [State-owned Commercial Bank]
Recipient
Vietnam
Sector
Business and other services (Code: 250)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
No
Category
Project lifecycle
Description
In November 2017, a group of four banks -- Bank of China, ICBC, Credit Suisse, and Maybank -- agreed to provide a USD 80 million club term loan with Home Credit Vietnam, a Vietnamese installment lender. The loan has a three year maturity and carries an interest rate of LIBOR plus 440 basis points. Each bank contributed USD 20 million to the loan. Bank of China's contribution is captured via project ID #95897. ICBC's contribution is captured via project ID #98598.
Additional details
1. AidData has calculated the interest rate for this loan using the 6-month LIBOR rate from November 2017 (1.626%). 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
1
Details
Cofinanced
Yes
Cofinancing agencies [Type]
Credit Suisse [Private Sector]
Malayan Banking Berhad (Maybank) [Private Sector]
Bank of China (BOC) [State-owned Commercial Bank]
Direct receiving agencies [Type]
Home Credit Vietnam Finance Co. Ltd. [Private Sector]
Loan Details
Maturity
3 years
Interest rate
6.026%
Grant element (OECD Grant-Equiv)
4.9472%