Bank of China contributes $10 million USD to $115 million USD syndicated loan for Export-Import Bank of India in February 2004
Commitment amount
$ 22776521.218866363
Adjusted commitment amount
$ 22776521.22
Constant 2021 USD
Summary
Funding agency [Type]
Bank of China (BOC) [State-owned Commercial Bank]
Recipient
India
Sector
Banking and financial services (Code: 240)
Flow type
Loan
Level of public liability
Other public sector debt
Infrastructure
No
Category
Project lifecycle
Description
In February 2004, final commitments were made for a $115 million USD syndicated and transferable loan for the Export-Import Bank of India. Signing was expected to take place March 1, 2004 but confirmation of this signing is unavailable. The loan carries an interest rate of 1.486% (average 6-month LIBOR in February 2004 + a margin of 30 basis points). Mandated arrangers included DZ Bank (Singapore), Natexis Banques Populaires, Bank of Tokyo-Mitsubishi and Citigroup. DZ Bank and Natexis Banques Populaires provided $10 million apiece while Bank of Tokyo-Mitsubishi and Citigroup provided $7.5 million each. Arrangers included Bank Austria, Bank of China, Bank of Taiwan, National Bank of Dubai and NordLB lending $10 million apiece. Lead managers include Banca Monte dei Paschi di Siena (Hong Kong) committing $6 million and Bank Muscat, Chinatrust Commercial Bank, Doha Bank and Export-Import Bank of the Republic of China providing $5 million each. Arab Bank was a senior manager contributing $4 million.
Additional details
1. This loan carried a 1.486% interest rate (AidData calculated the interest rate as follows: 1.186% [average 6-month LIBOR in February 2004] + 0.30% [30 basis points] = 1.486%).
Number of official sources
0
Number of total sources
1
Details
Cofinanced
Yes
Cofinancing agencies [Type]
DZ Bank AG [Private Sector]
Natexis Banques Populaires [Private Sector]
The Bank of Tokyo-Mitsubishi, Ltd. (BTM) [Private Sector]
Citigroup [Private Sector]
UniCredit Bank Austria AG [Private Sector]
Bank of Taiwan [State-owned Bank]
Emirates NBD Bank PJSC [State-owned Bank]
Norddeutsche Landesbank Girozentrale (NORD/LB) [State-owned Bank]
Banca Monte dei Paschi di Siena S.p.A. (MPS) (BMPS) [State-owned Bank]
Bank Muscat [State-owned Bank]
Chinatrust Commercial Bank [Private Sector]
Doha Bank [Private Sector]
Arab Bank [Private Sector]
Export-Import Bank of the Republic of China, Taipei [State-owned Bank]
Direct receiving agencies [Type]
India Export Import Bank [State-owned Bank]
Loan Details
Interest rate
1.486%