Active Development AidData Chinese Aid

Bank of China contributes $11.3 million to $1 billion syndicated loan to South African Reserve Bank to shore up foreign exchange reserves (Linked to Record ID#72443)

$11.3M USD

Funder	Bank of China (BOC)
Recipient Organization	South African Reserve Bank (SARB)
Country	South Africa
Start Date	Jul 19, 2004
End Date	Oct 03, 2032
Duration	10,303 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`72441`

Grant Description

In 2004, China Construction Bank and Bank of China contribute to USD 1 billion syndicated loan to South African Reserve Bank to support the country’s foreign currency position On July 19, 2004, 39 banks and financial institutions, including Bank of China (BOC) and China Construction Bank (CCB), signed a $1 billion loan facility agreement with South African Reserve Bank (SARB) to shore up the country's foreign exchange reserves.

📋 Loan / Grant Terms

📅 Maturity3 years

💹 Interest Rate2.103%

The borrower was able to draw down on the loan in USD and/or EUR.

The Mandated Lead Arrangers contributed $30.5 million each, Co-Arrangers contributed $22 million each, and Lead Managers contributed $11.3 million each. As a Lead Manager in the syndicate, Bank of China (BOC) committed $11.3 million (captured via Record ID#72441). As a Mandated Lead Arranger, China Construction Bank (CCB) committed $30.5 million (captured via Record ID#72443).

📋 Staff Comments

1. 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.

📚 Sources & References

Statement issued by Mr T.T. Mboweni
Governor of the South African Reserve Bank, on the occasion announcing the successful syndication of the South African Reserve Bank’s USD1 billion Term Loan Facility
Statement issued by Mr T.T. Mboweni
Governor of the South African Reserve Bank, on the occasion announcing the successful syndication of the South African Reserve Bank’s USD1 billion Term Loan Facility
Chinese Loans to Africa Database 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

South African Reserve Bank (SARB)

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