Overview

Bank of China contributes $10 million USD to $115 million USD syndicated loan for Export-Import Bank of India in February 2004

Commitments (Constant USD, 2023)$21,037,363

Commitment Year•2004Country of Activity•IndiaDirect Recipient Country of Incorporation•IndiaSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Feb 1, 2004

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

Arab Bank
Bank Muscat
Citigroup Inc.
CTBC Bank (formerly Chinatrust Commercial Bank)
Doha Bank Q.P.S.C.
DZ Bank AG
Natexis Banques Populaires
The Bank of Tokyo-Mitsubishi, Ltd. (BTM)
UniCredit Bank Austria AG (formerly Bank Austria-Creditanstalt (BA-CA))

State-owned Banks

Banca Monte dei Paschi di Siena S.p.A. (MPS) (BMPS)
Bank of Taiwan
Emirates NBD Bank P.J.S.C.
Export-Import Bank of the Republic of China, Taipei
Norddeutsche Landesbank Girozentrale (NORD/LB)

Receiving agencies

State-owned Banks

India Export Import Bank

Loan desecription

Bank of China contribution to USD 115 million syndicated loan to Export-Import Bank of India in February 2004

Interest rate (t₀)•1.51375%Interest type•Variable Interest RateLoan tenor•6-month rate

Narrative

Full Description

Project narrative

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.

Staff comments

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%).