Mizuho Arranges “Ninja Loan” for The Export-Import Bank of India, the?First?for Indian Borrower
Mizuho Arranges “Ninja Loan” for The Export-Import Bank of India, the First for Indian Borrower
September 28, 2010 Mizuho Corporate Bank, Ltd.
Mizuho Corporate Bank, Ltd. (“Mizuho”: President & CEO, Yasuhiro Sato) successfully arranged and executed a US$ 70 million syndicated loan for The Export-Import Bank of India (the “Exim Bank”) today. This syndicated loan was executed in the form of a “Ninja Loan” *, whereby Japanese financial institutions provide financing for overseas borrowers via syndicated lending. This is the first ever such transaction for an Indian borrower and is solely arranged by Mizuho.
The Export-Import Bank of India is India’s sole export credit agency wholly owned by the Central Government of India. The Exim Bank has intended to reach out to Japanese syndicated loan market as a mean to diversify its funding source, and, besides Mizuho, three Japanese financial institutions have participated in this transaction, which underlined the confidence of the investors in the Exim Bank as the Indian export credit agency.
Mizuho has made various efforts to expand cross-border syndicated lending, such as hosting seminars for potential financial institutions. In the wake of this success, Mizuho intends to continue such effort to provide liquidities to Asian market, where liquidities are in high demand.
Description of Syndicated Loan
1. Type of Deal: Syndicated Term Loan
2. Borrower: The Export-Import Bank of India
3. Total Facility Amount: US$ 70 million
4. Tenor: Five years from Borrowing Date
5. Mandated Lead Arranger: Mizuho Corporate Bank, Ltd.
6. Agent: Mizuho Corporate Bank, Ltd.
7. Participants: Four Japanese financial institutions (including Mizuho)
* “Ninja Loan”
Syndicated lending in which two or more Japanese financial institutions provide funding to overseas borrowers from the Japanese loan market.