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Overview

ICBC contributes to the JPY 3.4 billion tranche of a syndicated loan to SMFL Leasing for unspecified purposes (Linked to Record ID#99312)

Commitments (Constant USD, 2023)$12,597,545
Commitment Year•2009Country of Activity•JapanDirect Recipient Country of Incorporation•JapanSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Aug 28, 2009
Last repayment (originally scheduled)
Aug 27, 2012

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

  • Industrial and Commercial Bank of China (ICBC)

Cofinancing agencies

Private Sector

  • Chuo Mitsui Trust and Banking Company, Limited
  • RHB Bank Berhad
  • Sumitomo Mitsui Banking Corporation (SMBC)

Receiving agencies

Private Sector

  • Sumitomo Mitsui Finance and Leasing Company, Limited (SMFL Leasing)

Loan description

August 2009 syndicated JPY 3.4 billion and ฿400 million THB loan for SMFL Leasing in Japan

Interest rate (t₀)•1.36442%Interest type•Variable Interest RateLoan tenor•6-month rateMaturity•3 years

Narrative

Full Description

Project narrative

In or around August 28, 2009, a syndicate of four banks — including the Industrial and Commercial Bank of China (ICBC) — signed a syndicated JPY 3.4 billion and ฿400 million THB loan agreement with Sumitomo Mitsui Finance and Leasing Company, Limited (SMFL Leasing) — a Japanese leasing company and part of Sumitomo Mitsui Financial Group, Inc. — for unspecified purposes. This loan carried a maturity period of three years and was divided into two tranches: a JPY 3.4 billion tranche with an interest rate of TIBOR plus a margin of 70 basis points (bps) and a ฿400 million THB tranche with an interest rate of the bank reference rate plus a margin of 100 bps. Record ID#99310 captures ICBC's contribution to the Japanese yen tranche. Record ID#99312 captures ICBC's contribution to the Thai baht tranche. SMBC served as sole bookrunner. ICBC, RHB Bank, and Chuo Mitsui Banking Company served as participants.

Staff comments

1. Based on the small number of lenders, AidData assumes that ICBC contributed to both tranches. The individual contributions of the four lenders to this JPY 3.4 billion tranche is unknown. For the time being, AidData has estimated the contribution of ICBC by assuming that each lender contributed an equal amount (JPY 850,000,000) to the syndicated loan. 2. A 6-month TIBOR was assumed. The average 6-month TIBOR for August 2009 was 0.66442%. Therefore, the interest rate has been coded as 0.66442% + 0.7% (70 bps), or 1.36442%.