China Eximbank participates in $340 million syndicated loan to TDB for general corporate purposes in June 2016 (Linked to Record ID#92296, #92294, and #92298)

📋 Staff Comments

1. This loan is not included in the Chinese Loans to Africa Database developed by SAIS-CARI and maintained by the Global Development Policy Center at Boston University.
2. The Chinese government is the largest shareholder in Eastern and Southern African Trade and Development Bank (formerly known as PTA Bank), with a 9.3% shareholding.
3. The precise size of the contributions of China Eximbank, ICBC, Bank of Communications, China Construction Bank to the loan syndicate are unknown. For the time being, AidData assumes equal contributions to the $340 million loan ($68 million) across the 5 known participants in the loan syndicate.
4. 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.
5. Some sources suggest that there were Indian, Korean, and Taiwanese lenders that participated in the loan syndicate. Another source claims that ‘[t]he deal was a three year bullet loan which targeted mainly Chinese lenders’. This issue warrants further investigation.

📚 Sources & References

• Euro Medium Term Note Programme
• Annual Report 2017
• COVER NOTE TO THE EURO MEDIUM TERM NOTE PROGRAMME OF TDB IN RELATION TO ITS SECONDARY LISTING ON THE OFFICIAL MARKET OF THE STOCK EXCHANGE OF MAURITIUS LTD
• TDB Bank Annual Report & Financial Statements 2016
• Eastern and Southern Africa Development Bank Base Prospectus dated February 28, 2017
• The good, the bad, and who knows what or where next!
• PTA-Newsletter-quarter2-2016
• PTA picking leads for $320m loan refinancing, the-trade-and-development-bank-signs-a-usd-350-million-export-credit-line-with-japan-bank-for-international-cooperation 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.