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Overview

China CITIC Bank International provides a €300 million EUR term loan to Biosensors International for unspecified purposes

Commitments (Constant USD, 2023)$298,395,515
Commitment Year•2022Country of Activity•SingaporeDirect Recipient Country of Incorporation•BermudaOverseas Jurisdiction•Hong Kong (China)Sector•HealthFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jul 30, 2022

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% Chinese ownership

Funding agencies

State-owned Commercial Banks

  • China CITIC Bank International Limited (formerly CITIC Ka Wah Bank)

Receiving agencies

Private Sector

  • Biosensors International Group, Ltd.

Loan description

China CITIC Bank International provides a €300 million EUR term loan to Biosensors International for unspecified purposes

Interest type•Unknown

Narrative

Full Description

Project narrative

Prior to July 2022, China CITIC Bank International entered into a €300 million EUR term loan facility agreement with Biosensors International Group, Ltd. — a Bermuda-incorporated but Singapore-based medical device company owned by Chinese medical device company Bluesail Medical Co., Ltd. — for unspecified purposes.

Staff comments

1. The precise commitment date, loan terms, and purposes of this financing is unknown. AidData, however, has assessed that the loan was committed prior to July 2022 "Representative Legal Matters - Gerry Wong" was published in July 2020. 2. On July 30, 2020, Chinese medical device company Bluesail Medical Co., Ltd. voted to provide a guarantee to Bioensors International Group, Ltd. — for its loan application to China CITIC Bank International for a €225 million EUR credit line to finance its general corporate purposes, namely meeting its production, operation, and financing needs for the second half of 2020. It is unclear whether this loan application proceeded and resulted in the €300 million EUR facility.