Agricultural Bank of China contributes to a $110 million syndicated loan to Banco de Crédito e Inversiones for refinancing purposes

In January 2021, a syndicate of 17 banks — including the Agricultural Bank of China (ABC) — entered into a $110 million USD syndicated loan agreement with Banco de Crédito e Inversiones (BCI) — a Chilean private bank — for refinancing purposes. This loan carried a maturity period of three years and an interest rate of LIBOR plus a margin of 90 basis points (bps). In addition to ABC, the following lenders contributed to the loan syndicate: Mizuho Bank, Gunma Bank, Nomura Trust & Banking, Joyo Bank, 77 Bank, the Export-Import Bank of the Republic of China, Hachijuni Bank, Hua Nan Commercial Bank (HNCB), Hyakugo Bank, Iyo Bank, Chiba Bank, Shanghai Commercial & Savings Bank (SCSB), Taishin International Bank, Taiwan Cooperative Bank, Nanto Bank, and Shikoku Bank. Mizuho was the sole mandated lead arranger and bookrunner; the other 16 lenders joined in general syndication.

Additional details

1. A 6-month LIBOR was assumed. The average 6-month LIBOR for January 2021 was 0.241%. Therefore, the interest rate has been coded as 0.241% + 0.90% (90 basis points), or 1.141%. 2. The individual contribution of the 17 lenders to this $110 million USD syndicated loan is unknown. For the time being, AidData has estimated the contribution of ABC by assuming that each lender contributed an equal amount ($6,470,588.23529 USD) to the syndicated loan.

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