| Type |
Syndicated cofinancing loan supported by ADB Partial Credit Guarantee (PCG) |
| Borrower |
Export-Import Bank of Thailand |
| Cofinanced Amount |
$950.0 million |
| Tenor |
5 years |
| Guarantee coverage |
PCG covers principal and interest due in years 1 to 3, with extension to year 4 if the Kingdom of Thailand is rated below BBB/Baa2. The Kingdom of Thailand provided a counter-guarantee to ADB. |
| Syndicate |
68 commercial lenders (from Asia, Europe and North America) |
| Project Cost |
$1 billion (including $50 million ADB direct loan) |
| Use of Proceeds |
On-lent to export-related enterprises in Thailand |
| Remarks |
This was the first term financing arranged for Thailand after the start of the Asian financial crisis in July 1997. The success of the loan and the impressive amount raised acted as a catalyst for subsequent post-crisis commercial lending to Thailand. |
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