Overview

Bank of China (Johannesburg Branch) contributes to a $635 million USD syndicated loan to South Africa's Investec Bank (linked to Record ID#98650, 98651, 98695)

Commitments (Constant USD, 2023)$34,630,410

Commitment Year•2016Country of Activity•South AfricaDirect Recipient Country of Incorporation•South AfricaOverseas Jurisdiction•South AfricaSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Apr 8, 2016

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

Bank of China (BOC)

Cofinancing agencies

Private Sector

Bank of America Merrill Lynch International Limited
BNP Paribas S.A.
Citibank International plc
Commerzbank Aktiengesellschaft (Commerzbank AG)
HSBC (Hong Kong and Shanghai Banking Corporation)
ING Bank A.Ş
Intesa Sanpaolo S.P.A. (formerly Cariplo/Banca Intesa/BCI)
JP Morgan
Lloyds Bank plc (formerly Lloyds TSB Bank PLC)
Mizuho Bank, Ltd.
Oberbank AG
OYAK ANKER Bank GmbH
Standard Chartered Bank PLC
UniCredit Bank AG
Wells Fargo Bank N.A.
WGZ Bank

State-owned Banks

Bayerische Landesbank (BayernLB)

State-owned Commercial Banks

China Construction Bank Corporation (CCB)
ICBC (London) PLC

Receiving agencies

Private Sector

Investec Bank Limited

Loan desecription

In 2016, ICBC (London), China Construction Bank, and Bank of China contribute to USD 635 million syndicated loan to South Africa's Investec Bank

Interest rate (t₀)•2.292%Interest type•Fixed Interest Rate

Narrative

Full Description

Project narrative

On April 8, 2016, the Bank of China (Johannesburg Branch) contributed to a $635 million USD syndicated loan to South Africa's Investec Bank. This loan carried an interest rate of 2.292% and fees of 50bp for top tickets. It appears that this loan refinanced a 2013 loan, but no further information was found. The book-runners and mandated lead arrangers for this loan were Bank of America Merrill Lynch, BayernLB, Commerzbank, ICBC (London) (Record ID#98650), and Mizuho. Mandated lead arrangers were JP Morgan, Lloyds, Bank of China (Johannesburg Branch) (Record ID#98652), Citi, HSBC, Intesa Sanpaolo (London Branch), and Standard Chartered Bank. Lead arrangers were China Construction Bank (Johannesburg branch) (Record ID#98651), ING, BNP Paribas, UniCredit, Wells Fargo, WGZ Bank, Oberbank, and Oyak Anker Bank. On March 20, 2018, ICBC contributed to a $300 million USD syndicated loan to South Africa's Investec Bank Limited (Record ID#98695). The purpose of this loan was to refinance an April 2016 $635 million USD loan.

Staff comments

1. Since no further information was found, Aiddata assumes that each of the 20 lenders contributed equally at 31,750,000 USD. 2. Aiddata calculates the interest rate by adding the 6-month LIBOR rate + basis points. In April 2014, the 6-month LIBOR rate was 0.842% + 1.45% = 2.292%