Overview

ICBC provides a loan to an Australian agricultural enterprise for the acquisition of a beef and mutton processing plant

Commitment Year•2014Country of Activity•AustraliaDirect Recipient Country of Incorporation•AustraliaOverseas Jurisdiction•AustraliaSector•Agriculture, Forestry, FishingFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Dec 1, 2014

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)

Receiving agencies

Private Sector

Unspecified Australian Green Building and Engineering Company

Loan description

ICBC provides a loan to an Australian agricultural enterprise for the acquisition of a beef and mutton processing plant 2014

Interest type•Unknown

Narrative

Full Description

Project narrative

In or prior to December 2014, a syndicate of banks — including the Sydney Branch of the Industrial and Commercial Bank of China (ICBC) — provided a syndicated loan to an Australian agricultural enterprise for the acquisition of a beef and mutton processing plant. Other lenders included Australian banks. The project was successfully completed. This was reportedly the first red meat agricultural acquisition loan issued by a Chinese financial institution in Australia.

Staff comments

1. The specific borrower, face value, loan terms, and commitment date is unknown. This issue merits further investigation.