Bank of China (Johannesburg Branch) contributes to a $635 million USD syndicated loan to South Africa's Investec Bank (linked to project #98650, 98651, 98695)
Commitment amount
$ 37490543.140381336
Adjusted commitment amount
$ 37490543.14
Constant 2021 USD
Summary
Funding agency [Type]
Bank of China, Johannesburg branch [State-owned Commercial Bank]
Recipient
South Africa
Sector
Banking and financial services (Code: 240)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
No
Category
Project lifecycle
Description
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) (project #98650), and Mizuho. Mandated lead arrangers were JP Morgan, Lloyds, Bank of China (Johannesburg Branch) (project #98652), Citi, HSBC, Intesa Sanpaolo (London Branch), and Standard Chartered Bank. Lead arrangers were China Construction Bank (Johannesburg branch) (project #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 (Project #98695). The purpose of this loan was to refinance an April 2016 $635 million USD loan.
Additional details
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%
Number of official sources
0
Number of total sources
1
Details
Cofinanced
Yes
Cofinancing agencies [Type]
Bank of America Merrill Lynch International Limited [Private Sector]
Bayerische Landesbank (BayernLB) [State-owned Bank]
Commerzbank [Private Sector]
Mizuho Bank [Private Sector]
JP Morgan [Private Sector]
Lloyds Bank [Private Sector]
Citibank International plc [Private Sector]
HSBC [Private Sector]
Intesa Sanpaolo S.P.A. London Branch [Private Sector]
Standard Chartered Bank PLC [Private Sector]
China Construction Bank Corporation (CCB) [State-owned Commercial Bank]
ING Bank A.Ş [Private Sector]
BNP Paribas S.A. [Private Sector]
UniCredit Bank AG [Private Sector]
Wells Fargo Bank N.A. [Private Sector]
WGZ Bank [Private Sector]
Oberbank AG [Private Sector]
OYAK ANKER Bank GmbH [Private Sector]
Industrial and Commercial Bank of China (ICBC) London [State-owned Commercial Bank]
Direct receiving agencies [Type]
Investec Bank (South Africa) [Private Sector]
Loan Details
Interest rate
2.292%