Active Commercial AidData Chinese Aid

Bank of China’s HCMC Branch contributes $8 million USD to $58 million USD syndicated loan for Vietnam National Coal and Mineral Industries Group (Vinacomin) in September 2008

$8M USD

Funder	Bank of China (BOC)
Recipient Organization	Vietnam National Coal - Mineral Industries Group (Vinacomin)
Country	Viet Nam
Start Date	Sep 16, 2008
End Date	Jun 01, 2033
Duration	9,024 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`98329`

Grant Description

BOC contribution to $58 million USD syndicated loan in 2008 for Vietnam National Coal and Mineral Industries Group (Vinacomin) On September 16, 2008, foreign banks led by Standard Chartered signed an agreement providing a $58 million USD syndicated loan to Vietnam National Coal and Mineral Industries Group (Vinacomin).

The foreign lenders in the deal include Cathay United Bank’s Chu Lai branch, Malayan Banking Berhad, and Bank of China’s HCMC branch. Standard Chartered Bank serves as a lead arranger and bookrunner, facility agent, security agent and paying agent.

Standard Chartered Bank and Cathay United Bank each contributed $20 million USD, Malayan Banking Berhad contributed $10 million USD and Bank of China provided $8 million USD.

📋 Loan / Grant Terms

💰 Loan Amountcarried a maturity period of seven years

The loan was secured. The proceeds of loan will be used to finance Vinacomin’s capital expenditure requirements.

📋 Staff Comments

1. This loan is identified as a collateralized loan because Standard Chartered Bank was selected as the security agent (i.e. collateral agent) for the loan. When lenders take collateral as security for their loans, a security (collateral) agent is often appointed to enforce rights against the collateral in the event of the borrower’s default under the loan.

📚 Sources & References

Foreign banks offer syndicated loan to Vinacomin 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

Vietnam National Coal - Mineral Industries Group (Vinacomin)

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