Bank of China contributes USD $35 million to $465 million syndicated loan to Hindustan Petroleum Corporation for refinancing purposes
Commitment amount
$ 41328157.79254635
Adjusted commitment amount
$ 41328157.79
Constant 2021 USD
Summary
Funding agency [Type]
Bank of China (BOC) [State-owned Commercial Bank]
Recipient
India
Sector
Business and other services (Code: 250)
Flow type
Loan
Level of public liability
Other public sector debt
Infrastructure
No
Category
Project lifecycle
Description
In May 2016, Bank of China contributed to a $465 million USD syndicated loan to Hindustan Petroleum Corporation (HPCL), an Indian state-owned company. This loan carried a maturity period of 21 months and an interest rate of USD LIBOR plus a margin of 65 basis points and an average life of 1.5 years. Proceeds were to be used by refinance a five-year $465 million USD facility signed in September 2011. Bank of China joined in general syndication and contributed $35 million USD. DZ Bank contributed $20 million. Lead banks Bank of Tokyo-Mitsubishi UFJ, DBS, Mizuho, Sumitomo Mitsui Banking Corp and United Overseas Bank contributed but their contributions are unknown.
Number of official sources
0
Number of total sources
1
Details
Cofinanced
Yes
Cofinancing agencies [Type]
DZ Bank AG [Private Sector]
MUFG Bank, Ltd. (Formerly Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU)) [Private Sector]
DBS Bank [Private Sector]
Sumitomo Mitsui Banking Corporation [Private Sector]
United Overseas Bank Limited (UOB) [Private Sector]
Direct receiving agencies [Type]
Hindustan Petroleum Corporation Limited (HPCL) [State-owned Company]
Loan Details
Maturity
2 years
Interest rate
1.035%
Grant element (OECD Grant-Equiv)
4.8102%