The granting of 350 million U.S. dollars within the framework of a five-year syndicated loan to the Ministry of Finance of Oman Project, which the Postal Savings Bank of China (PSBC) Beijing branch participated in, recently won the “Best Project Award” at the evaluation of syndicated loan businesses in 2018 in Beijing.
The event was sponsored by China Banking Agency.
The main borrower of the syndicated loan is the Ministry of Finance of Oman. Lead bank of the syndicate is the Industrial and Commercial Bank of China (ICBC) with the participation of China Development Bank, Bank of Communications (BCM) and other banks. The purpose of the financing is to supplement general fiscal expenditure.
This business is the first overseas sovereign loan of the PSBC. While granting the loan, the Beijing branch set up a special project group to cooperate with its peers, strengthen information-sharing and create a cooperative atmosphere.
They completed the product process optimization, pre-loan investigation, and project data translation in one month, and also designed a flexible price mechanism to realize risk control.