Shanghai Pudong Development Bank contributes to $1 billion syndicated loan to for refinancing and general corporate purposes (Linked to Project ID#91911, #98843, and #98844)
Commitment amount
$ 41613504.11624351
Adjusted commitment amount
$ 41613504.12
Constant 2021 USD
Summary
Funding agency [Type]
China Construction Bank Corporation (CCB) [State-owned Commercial Bank]
Recipient
South Africa
Sector
Banking and financial services (Code: 240)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
No
Category
Project lifecycle
Description
On October 23, 2019, Standard Bank of South Africa Limited (SBSA) signed a $1 billion syndicated term loan agreement with 27 banks from 13 countries. The loan carries a 3-year maturity and an unknown interest rate. It will be used by the borrower for general corporate purposes and for a partial refinancing of syndicated term loan facility that SBSA signed in August 2017. Co-ordinators, Bookrunners and Mandated Lead Arrangers included Industrial and Commercial Bank of China Limited, London Branch; Standard Chartered Bank; and Citi. Bookrunners and Mandated Lead Arrangers included Bank of America; Merrill Lynch; Bank of China Limited Johannesburg Branch; BNP Paribas; China Construction Bank Corporation Johannesburg Branch; Commerzbank Aktiengesellschaft, Filiale Luxemburg; Credit Europe Bank N.V.; First Abu Dhabi Bank PJSC; HSBC Bank plc – Johannesburg Branch; ING Bank N.V.; Mashreqbank PSC; MIZUHO BANK, LTD.; MUFG; RAKBANK; Samba Financial Group; Shanghai Pudong Development Bank Co., Ltd.; State Bank of India, Johannesburg Branch ;State Bank of India, London Branch; Sumitomo Mitsui Banking Corporation Europe Limited; and Wells Fargo Bank, N.A., London Branch. Mandated Lead Arrangers include Unicredit Bank AG. Lead Arrangers included Bank of Taiwan South Africa Branch; DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main; Erste Group Bank AG; Taiwan Cooperative Bank, Offshore Banking Branch; and the Bank of New York Mellon. Citi acted as documentation agent, ICBC as press agent, and Standard Chartered Bank is the syndication and facility agent. The contribution of the Bank of China is captured in #91911. CCB is captured in #98842. ICBC is captured in #98843. Shanghai Pudong is captured in #98844.
Additional details
1. The individual contributions of Bank of China, ICBC, China Construction Bank, and Shanghai Pudong Development Bank Co., Ltd. are unknown. For the time being, AidData assumes equal contributions ($37,037,037) across the 27 banks that contributed to the $1 billion syndicated loan.
Number of official sources
1
Number of total sources
1
Details
Cofinanced
Yes
Cofinancing agencies [Type]
Standard Chartered Bank PLC [Private Sector]
Citigroup [Private Sector]
Bank of America Corporation [Private Sector]
Bank of America Merrill Lynch International Limited [Private Sector]
BNP Paribas S.A. [Private Sector]
Filiale Luxemburg (Commerzbank) [Private Sector]
Credit Europe Bank [Private Sector]
ING Bank N.V. [Private Sector]
Mashreqbank PSC [Private Sector]
Mizuho Bank [Private Sector]
Samba Financial Group [State-owned Bank]
State Bank of India (SBI) [State-owned Bank]
Sumitomo Mitsui Banking Corporation Europe Limited [Private Sector]
Wells Fargo Bank N.A. [Private Sector]
UniCredit Bank AG [Private Sector]
Bank of Taiwan [State-owned Bank]
Taiwan Cooperative Bank [State-owned Bank]
Bank of New York Mellon Corporation (BNY Mellon) [Private Sector]
First Abu Dhabi Bank (FAB) [State-owned Bank]
HSBC Bank PLC [Private Sector]
Erste Group Bank AG (Erste Group) [Private Sector]
DZ Bank AG [Private Sector]
Bank of China (BOC) [State-owned Commercial Bank]
Industrial and Commercial Bank of China (ICBC) [State-owned Commercial Bank]
Shanghai Pudong Development Bank Co., Ltd. (SPDB) [State-owned Commercial Bank]
MUFG Bank, Ltd. (Formerly Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU)) [Private Sector]
National Bank of Ras Al-Khaimah P.J.S.C. (RAKBANK) [State-owned Bank]
Direct receiving agencies [Type]
Standard Bank of South Africa Limited (Standard Bank) [Private Sector]
Loan Details
Maturity
3 years