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Bank of China contributes $50 million USD to a $500 million USD syndicated loan to Maybank for unspecified purposes

$50M USD

Funder	Bank of China (BOC)
Recipient Organization	Malayan Banking Berhad (Maybank)
Country	Malaysia
Start Date	Feb 14, 2005
End Date	Apr 02, 2027
Duration	8,082 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`98288`

Grant Description

Bank of China contributes to a USD 500 million syndicated loan to Maybank In January 2005, a syndicate of 11 banks — including the Bank of China (BOC) — committed to providing a $500 million USD syndicated loan to Malayan Banking Berhad (Maybank), a Malaysian bank, for unspecified purposes.

📋 Loan / Grant Terms

💰 Loan Amountfacility carried a maturity period of three years and an interest rate of LIBOR plus a margin of 18 basis points

Formal signing was scheduled on February 14, 2005 as allocations were being finalized, and the loan was successfully entered into. BOC contributed $50 million USD on a take-and-hold basis.

In addition to BOC, the following lenders contributed to the loan syndicate, with their contributions (if known): Barclays Capital, Citigroup, Mizuho Corporate Bank (MHCB), Bayerische Landesbank (BayernLB) ($75 million USD), Calyon )($75 million USD), HSH Nordbank AG ($75 million USD), UFJ Bank ($75 million USD), Fortis Bank ($50 million USD), Dresdner Bank ($10 million USD), and DZ Bank ($10 million USD.

Barclays Capital, Citigroup, and MHCB served as the mandated lead arrangers; the other lenders joined in sub-underwriting, which saw the loan oversubscribed and increased from its initial $400 million USD target and general syndication to not be launched.

📋 Staff Comments

As 'Maybank Annual Report 2005' confirms the loan was successfully entered into and 'Malaysia', made when all the lenders had joined, states that signing was planned for two weeks from then, on February 14, 2005, AidData has assumed the loan was successfully signed on that date.
A 6-month LIBOR was assumed. The average 6-month LIBOR for February 2005 was 2.891%. Therefore, the interest rate has been coded as 2.891% plus 0.16% (16 basis points), or 3.051%.

📚 Sources & References

Malaysia
Maybank Annual Report 2005 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.