Skip to content
AidData logo

Overview

ICBC contributes to NZD 475 million syndicated lending facility to Argosy Property Limited for unspecified corporate purposes

Commitments (Constant USD, 2023)$47,345,632
Commitment Year•2022Country of Activity•New ZealandDirect Recipient Country of Incorporation•New ZealandSector•Business And Other ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Aug 5, 2022
Last repayment (originally scheduled)
May 23, 2026

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 (ICBC)

Cofinancing agencies

Private Sector

  • ANZ Bank New Zealand Limited
  • Bank of New Zealand (BNZ)
  • Commonwealth Bank of Australia (CBA) (CommBank)
  • HSBC (Hong Kong and Shanghai Banking Corporation)
  • Westpac New Zealand Limited (WNZL)

Receiving agencies

Private Sector

  • Argosy Property, Ltd.

Loan description

2022 syndicated NZD 475 million lending facility from ICBC for unspecified corporate purposes

Interest type•UnknownMaturity•3.8 years

Narrative

Full Description

Project narrative

On August 5, 2022, a syndicate of six banks, including ICBC -- reached financial close on a NZD 475 million amendment and extension of Argosy Property Limited's syndicated lending facility for unspecified corporate purposes, with ICBC joining the other five lenders as a new member of the syndicate. The total funding tenor of Argosy's obligations is 3.8 years, with the nearest tranche expiring in April 2025. Other lending details, including a breakdown of individual tranches, are unknown. Other members of the lending syndicate included: ANZ Bank New Zealand, Ltd., Bank of New Zealand, Ltd., HSBC, Commonwealth Bank of Australia, and Westpac Bank New Zealand, Ltd.

Staff comments

1. AidData is unable to ascertain the individual contributions made to the facility by each member of the syndicate, therefore equal contributions from each lender have been assumed.