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China Construction Bank contributes $7.5 million USD to $50 million USD syndicated loan for Jindal Steel and Power Bank in September 2004

$7.5M USD

Funder	China Construction Bank Corporation (CCB)
Recipient Organization	Jindal Steel and Power Limited (JSPL)
Country	India
Start Date	Sep 01, 2004
End Date	Aug 07, 2029
Duration	9,106 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`98296`

Grant Description

China Construction Bank contribution to USD 50 million syndicated loan for Jindal Steel and Power Bank in September 2004 In September 2004, China Construction Bank contributed $7.5 million USD to a $50 million USD syndicated loan for Jindal Steel and Power Bank in India. Barclays Capital served as a mandated arranger of the syndicated loan but its contribution is unknown.

Sub-underwriters included Bank of Baroda and China Construction Bank; both underwriters contributed $7.5 million USD.

Other participants in the loan included State Bank of India, Chiao Tung Bank (Singapore) and Bumiputra-Commerce Bank (London). Their contributions are unknown.

📋 Loan / Grant Terms

💰 Loan Amountcarried a maturity period of five years and an interest rate of 3

The use of loan proceeds are unknown but it is reported that financing for the loan was expected to close on October 29, 2004.

📋 Staff Comments

1. This loan carried a 3.778% interest rate (AidData calculated the interest rate as follows: 2.078% [average 6-month LIBOR in September 2004] + 1.70% [170 basis points] = 3.778%).

📚 Sources & References

Loans Flow
Asia loans flow 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.