Bank of China contributes to a $1 billion USD syndicated loan for ONGC Videsh Limited (OVL) for refinancing purposes
Commitment amount
$ 101530636.58068278
Adjusted commitment amount
$ 101530636.58
Constant 2021 USD
Summary
Funding agency [Type]
Bank of China (BOC) [State-owned Commercial Bank]
Recipient
India
Sector
Industry, mining, construction (Code: 320)
Flow type
Loan
Level of public liability
Other public sector debt
Infrastructure
No
Category
Project lifecycle
Description
In March 2020, Bank of China contributed to a $1 billion USD syndicated loan to ONGC Videsh Limited (OVL), a wholly owned subsidiary and overseas arm of Oil and Natural Gas Corporation Ltd. (ONGC), the National Oil Company of India. The loan held a five-year maturity period and was to be used for refinancing. 11 banks participated in the loan. Bank of Baroda, DBS, First Abu Dhabi, Korea Development Bank, MUFG, State Bank of India, Sumitomo Mitsui Banking Corp, UOB, and Westpac participated as mandated lead arrangers (MLAs) and bookrunners. Bank of China and Intesa Sanpaolo joined in syndication.
Additional details
1. The individual contribution of the 11 lenders to this $1 billion USD syndicated loan is unknown. For the time being, AidData has estimated the contribution of BOC by assuming that each lender contributed an equal amount ($90909090.9091 USD) to the $1 billion syndicated loan.
Number of official sources
0
Number of total sources
1
Details
Cofinanced
Yes
Cofinancing agencies [Type]
Bank of Baroda [Private Sector]
DBS Bank [Private Sector]
First Abu Dhabi Bank (FAB) [State-owned Bank]
Korea Development Bank (KDB) [State-owned Bank]
State Bank of India (SBI) [State-owned Bank]
United Overseas Bank Limited (UOB) [Private Sector]
Westpac Banking Corporation [Private Sector]
Intesa Sanpaolo S.P.A. [Private Sector]
MUFG Bank [Private Sector]
MUFG Bank, Ltd. (Formerly Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU)) [Private Sector]
Sumitomo Mitsui Banking Corporation Group (SMBC Group) [Private Sector]
Direct receiving agencies [Type]
Oil and Natural Gas Corporation (ONGC) [State-owned Company]
Loan Details
Maturity
5 years