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China Eximbank participates in $40 million syndicated loan with Belagroprombank for trade financing purposes in February 2008
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | JSC Belagroprombank |
| Country | Belarus |
| Start Date | Feb 01, 2008 |
| End Date | Dec 22, 2030 |
| Duration | 8,360 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 105651 |
Grant Description
China Eximbank contribution to USD 40 million syndicated loan to Belagroprombank for trade financing purposes in February 2008 In February 2008, JSC Belagroprombank — a state-owned bank in Belarus — signed a $40 million, ‘one year plus one’ trade finance facility agreement with a syndicate of 12 banks.
The loan was arranged by Banco Finantia, Commerzbank and UniCredit. AKA Ausfuhrkredit-Gesellschaft, FBN Bank and OTP Bank joined the deal as arrangers. The lead arrangers were Banque de Commerce et de Placements, DZ Bank, and Export-Import Bank of China (China Eximbank). Banco Efisa, Latvijas Hipoteku and NLB InterFinanz were managers.
The loan carried an interest rate of LIBOR plus a 3.1% margin.
Staff Comments
- The exact monetary value of China Eximbank’s contribution to the syndicated loan is unknown. For the time being, AidData assumes equal contributions ($3.33 million) across the 12 known members of the syndicate. This issue warrants further investigation.
- For loan and debt rescheduling records with variable interest rates, AidData calculates the all-in interest rate at T0 based on the reference rate (such as LIBOR or EURIBOR) on the loan start date, plus any known margin. Please see the methodology for additional details.
- JSC Belagroprombank is a state-owned bank that has been entrusted to serve as a Government Agent for service programs funded by the state authorities. At the time that the loan was contracted, it was the biggest local bank in Belarus by market capitalization and the second largest by assets. It was 99% state-owned and rated B2/B- by Moody's and Fitch
Sources & References
- Russia and CIS Syndicated Loans - news in brief
- Feb 22, 2008
- Belagroprombank Raised USD 40 mln Syndicated Loan Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
JSC Belagroprombank
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