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Overview

Bank of China contributes to a THB 3.6 billion syndicated loan to HMC Polymers for general corporate and working capital purposes

Commitments (Constant USD, 2023)$35,846,390
Commitment Year•2005Country of Activity•ThailandDirect Recipient Country of Incorporation•ThailandSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Apr 1, 2005
Last repayment
Mar 31, 2010

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

  • ABN AMRO Bank NV
  • Bangkok Bank Public Company Limited (BBL)
  • Citigroup Inc.
  • Mega International Commercial Bank Co., Ltd. (formerly International Commercial Bank of China)

Receiving agencies

Joint Venture/Special Purpose Vehicles

  • HMC Polymers Co., Ltd. (HMC)

Loan desecription

BOC contributions to a THB 3.6 billion syndicated loan to HMC Polymers for general corporate and working capital purposes

Interest type•UnknownMaturity•5 years

Narrative

Full Description

Project narrative

Around early April 2005, a syndicate of five banks — including the Bank of China (BOC) — entered into a THB 3.6 billion syndicated term loan agreement with HMC Polymers Co., Ltd. (HMC) — a Thailand-based manufacturer and marketing of polypropylene and joint venture then-owned by HuaKee Group Limited, Bangkok Bank, and Basell (Thailand) Holding BV (part of Basell Polyolefins (a Netherlands-headquartered joint venture between BASF and Royal Dutch Shell)) — for general corporate purposes and working capital requirements. This loan carried a maturity period of five years. The proceeds were to be used by the borrower for general corporate purposes and working capital requirements. In addition to BOC, the following lenders contributed to the loan syndicate: Bangkok Bank, Citigroup, ABN Amro Bank NV, and International Commercial Bank of China (now known as Mega International Commercial Bank). Bangkok and Citigroup served as arrangers; BOC, ABN Amro, and International Commercial Bank of China served as participants.

Staff comments

1. The individual contribution of the five lenders to this THB 3.6 billion syndicated loan is unknown. For the time being, AidData has estimated the contribution of BOC by assuming that each lender contributed an equal amount (THB 720,000,000) to the syndicated loan.