Overview

ICBC provides $200 million USD loan to Galp Energia for unspecified purposes

Commitments (Constant USD, 2023)$206,794,258

Commitment Year•2013Country of Activity•PortugalDirect Recipient Country of Incorporation•PortugalOverseas Jurisdiction•LuxembourgSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jul 1, 2013

Last repayment (originally scheduled): Dec 1, 2018

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Commercial Banks

Industrial and Commercial Bank of China (Europe) S.A. (ICBC (Europe))

Receiving agencies

Private Sector

Galp Energia, SGPS, S.A.

Loan description

ICBC provides $200 million USD loan to Galp Energia for unspecified purposes

Interest type•Variable Interest RateLoan tenor•6-month rateMaturity•5 years

Narrative

Full Description

Project narrative

In or prior to July 2013, the Industrial and Commercia Bank of China (Europe) S.A. provided a $200 million USD loan to Galp Energia, SGPS, S.A. — a Portuguese multinational oil and gas corporation, headquartered in Lisbon and listed on the Euronext Lisbon — for unspecified purposes. The borrowing terms included an interest rate of 6-month LIBOR plus spread and a 5-year maturity, with final maturity in December 2018.

Staff comments

1. Galp Energia, SGPS, S.A. is a Portuguese multinational energy corporation, headquartered in Lisbon, Portugal.