Active Commercial AidData Chinese Aid

Bank of China contributes $5.5 million USD to $100 million USD syndicated loan to India’s Corporation Bank in July 2006

$5.5M USD

Funder	Bank of China (BOC)
Recipient Organization	Corporation Bank Ltd.
Country	India
Start Date	Jul 06, 2006
End Date	Oct 31, 2029
Duration	8,518 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`98249`

Grant Description

Bank of China contribution to USD 100 million syndicated loan to India’s Corporation Bank in July 2006 On July 6, 2006, India’s Corporation Bank signed a $100 million USD syndicated loan with a group of 11 banks.

Mandated lead arrangers included Calyon, DZ Bank (Singapore) and Lloyds TSB Bank (London) contributing $14.75 million each, DBS Bank contributing $13 million, and BNP Paribas and Standard Chartered Bank contributing $7.625 each.

Co-arrangeres included United Overseas Bank contributing $7 million, Banca Nazionale del Lavoro (Hong Kong) and Oversea-Chinese Banking Corporation providing $6 million each, and Bank of China contributing $5.5 million. The lead manager, Banca Intesa (Hong Kong), contributed $3 million.

📋 Loan / Grant Terms

💰 Loan Amountcarries a one year maturity period and has an interest rate of 5

The proceeds of the loan were to be used for working capital purposes.

📋 Staff Comments

1. This loan carried a 5.702% interest rate (AidData calculated the interest rate as follows: 5.582% [average 6-month LIBOR in July 2006] + 0.12% [12 basis points] = 5.702%).

📚 Sources & References

Loan Week
July 7 - 14
India 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.