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Overview

Agricultural Bank of China contributes to $166 million syndicated loan to Commercial Bank of Qatar for general corporate purposes

Commitments (Constant USD, 2023)$25,865,682
Commitment Year•2016Country of Activity•QatarDirect Recipient Country of Incorporation•QatarOverseas Jurisdiction•KoreaSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Mar 23, 2016
Last repayment (originally scheduled)
Mar 23, 2019

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

  • Agricultural Bank of China (ABC)

Cofinancing agencies

Private Sector

  • Fuyo General Lease Co., Ltd.
  • Gunma Bank
  • Mizuho Bank, Ltd.
  • The Shizuoka Bank Ltd.

State-owned Banks

  • Bank of Taiwan
  • State Bank of India (SBI)

Receiving agencies

Private Sector

  • The Commercial Bank of Qatar (P.S.Q.C.) (CBQ) (The Commercial Bank)

Loan description

2016 syndicated $166 million USD loan facility from Agricultural Bank of China and others to Commercial Bank of Qatar for general corporate purposes

Interest type•UnknownMaturity•3 years

Narrative

Full Description

Project narrative

On March 23, 2016, a syndicate of seven banks — including the Seoul Branch of Agricultural Bank of China (ABC) — entered into a $166 million USD syndicated NINJA loan facility to Qatari bank Commercial Bank of Qatar (CBQ/'Commercial Bank') to support the bank's general corporate functions. The loan carried a maturity date of three years and was the first NINJA loan signed in Qatar. CBQ originally sought $100 million USD in funding, but the loan offer attracted a higher than expected level of interest. The lending syndicate included Mizuho Bank, State Bank of India (SBI), Bank of Taiwan through its Tokyo branch, and Agricultural Bank of China as mandated lead arrangers (MLAs), Gunma Bank and Shizuoka Bank as lead arrangers, and Fuyo General Lease as arranger. Mizuho Bank also acted as sole coordinator and book-runner.

Staff comments

1. NINJA loans are syndicated loans arranged in Japan for foreign companies or institutions, mostly denominated in yen. 2. For the time being, AidData is estimating Agricultural Bank of China's (ABC) contribution ($23,714,285) to the lending syndicate by dividing the total amount of financing ($166 million) by the number of lenders (7). 3. At the time that the loan was contracted, lower oil and gas revenues caused public sector deposits in Qatar’s domestic banking system to shrink, tightening liquidity and driving its banks to raise funds abroad.