Active Commercial AidData Chinese Aid

ICBC contributes to a €400 million EUR syndicated loan to Raiffeisenbank Austria (Zagreb) (RBA) for refinancing purposes

€14.29M EUR

Funder	Industrial and Commercial Bank of China (ICBC)
Recipient Organization	Raiffeisenbank Austria d.d. Zagreb (RBA)
Country	Croatia
Start Date	Jun 02, 2006
End Date	Aug 22, 2033
Duration	9,943 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`110183`

Grant Description

ICBC contributes to a €400 million EUR syndicated loan to Raiffeisenbank Austria (Zagreb) (RBA) for refinancing purposes in Croatia 2006 On or around June 2, 2006, a syndicate of 28 lenders — including the Industrial & Commercial Bank of China (ICBC) — entered into a €400 million EUR syndicated loan agreement with Raiffeisenbank Austria d.d.

Zagreb (RBA) — the Croatian wholly-owned subsidiary of the Austrian Raiffeisen Bank International AG — for refinancing purposes. The facility carried an interest rate of 30 basis point (bps) over Euribor and a maturity period of three years. The facility was launched at €250 million EUR, but was oversubscribed during syndication.

ICBC acted as co-arranger on the facility.

In addition to ICBC, the following lenders played these roles on the deal: Unicredit Bank Austria (mandated lead arranger, or MLA); Commerzbank Aktiengesellschaft (Commerzbank) (mandated lead arranger); HSBC Bank (MLA); HSH Nordbank (now Hamburg Commercial Bank (HSOB)) (MLA); Mizuho Bank (MLA); Sanpaolo IMI (MLA); Alpha Bank (MLA); Banca Intesa (MLA); Bayerische Landesbank (BayernLB) (MLA); DZ Bank (MLA); Kommunalkredit (MLA); Lloyds TSB (now Lloyds Bank) (MLA); LRP Landesbank Rheinland-Pfalz (MLA); Norddeutsche Landesbank Girozentrale (NORD/LB) (MLA); Commercial Bank of Greece (arranger); Landesbank Baden-Württemberg (LBBW) (arranger); Zurich Cantonal Bank (Zürcher Kantonalbank (ZKB)) (arranger); American Express Bank (co-arranger); Banca Lombarda (senior lead manager); Banca Nazionale del Lavoro (senior lead manager); Bank of Valletta (senior lead manager); Banque et Caisse d'Epargne de l'Etat (senior lead manager); BAWAG P.S.K.

Bank Für Arbeit und Wirtschaft und Österreichische Postsparkasse Aktiengesellschaft (BAWAG P.S.K.) (senior lead manager); DnB NOR Bank (now DNB Bank ASA) (senior lead manager); Oberbank (senior lead manager); TakarékBank (senior lead manager); and Sampo Bank (manager). The proceeds of the loan were to be used to refinance a loan signed by the borrower in June 2003.

📋 Staff Comments

1. The exact contributions of each of the 28 lenders to the €400 million EUR facility is unknown. To estimate ICBC's contribution, AidData has assumed that each lender contributed equally to the loan syndicate (€400,000,000 / 28 = €14,285,714.2857). This issue merits further investigation.

📚 Sources & References

Croatia - 06/2006 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.