Overview

ICBC contributes $20 million USD to $80 million USD syndicated loan to Home Credit Vietnam for unspecified purposes (Linked to Record ID#98597)

Commitments (Constant USD, 2023)$21,282,528

Commitment Year•2017Country of Activity•Viet NamDirect Recipient Country of Incorporation•Viet NamSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Nov 1, 2017

Last repayment (originally scheduled): Oct 31, 2020

Stakeholders

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

Funding agencies

State-owned Commercial Banks

Industrial and Commercial Bank of China (ICBC)

Cofinancing agencies

Private Sector

Credit Suisse AG
Malayan Banking Berhad (Maybank)

State-owned Commercial Banks

Bank of China (BOC)

Receiving agencies

Private Sector

Home Credit Vietnam Finance Co. Ltd.

Loan description

BOC and ICBC contribution to $80 million Club Loan to Home Credit Vietnam

Grant element•5.0084%Interest rate (t₀)•5.97979%Interest type•Variable Interest RateMaturity•3 years

Narrative

Full Description

Project narrative

In November 2017, a syndicate of four banks — Bank of China, Industrial and Commercial Bank of China (ICBC), Credit Suisse, and Maybank — agreed to provide a $80 million USD club term loan with Home Credit Vietnam, a Vietnamese installment lender and consumer finance company, for unspecified purposes. The loan carried a three year maturity and carried an interest rate of LIBOR plus 440 basis points. Each bank contributed $20 million USD to the loan. Bank of China's contribution is captured via Record ID#95897. ICBC's contribution is captured via Record ID#98598.