Overview

CITIC Ka Wa Bank Limited contributes to $120 million syndicated loan to BankMuscat International

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

Commitment Year•2007Country of Activity•BahrainDirect Recipient Country of Incorporation•OmanOverseas Jurisdiction•Hong Kong (China)Sector•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

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

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

ICBC (London) PLC

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, BankMuscat International (BMI) signed a $120 million syndicated loan agreement with a consortium of sixteen regional and international banks including CITIC Ka Wa Bank Limited. The syndicated loan was originally set at $75 million. Due to strong interest, however, BankMuscat elected to increase the loan amount to $120 million, 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. The borrowing terms of the loan are unknown. The proceeds of the loan were to be used by the borrower for unspecified purposes. ICBC's contribution is captured via Record ID#98569.

Staff comments

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