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Overview

China Eximbank contributes to a $86 million USD syndicated loan to Hellespont Hammonia for construction of three product tankers

Commitments (Constant USD, 2023)$80,690,192
Commitment Year•2006Country of Activity•GermanyDirect Recipient Country of Incorporation•GermanySector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Sep 1, 2006

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 Policy Banks

  • Export-Import Bank of China (China Eximbank)

Cofinancing agencies

State-owned Banks

  • Hamburg Commercial Bank (HSOB) (Formerly HSH Nordbank AG)

Receiving agencies

Joint Venture/Special Purpose Vehicles

  • Unspecified Kommanditgesellschafts (KGs) managed by Hellespont Hammonia GmbH & Co KG

Loan description

China Eximbank contributes to a $86 million USD syndicated loan to KGs managed by Hellespont Hammonia for construction of three product tankers

Interest type•Unknown

Narrative

Full Description

Project narrative

In September 2006, a syndicate of the Export Import Bank of China China Eximbank and HSH Nordbank entered into a $86 million USD loan agreement with unspecified Kommanditgesellschafts (KGs) managed by Hellespont Hammonia GmbH & Co KG for construction financing for three 73,400 dwt product tankers bound for the KGs.

Staff comments

1. In Germany, a Kommanditgesellschaft (abbreviated KG) is a limited partnership business entity. In this case, the company Hellespont Hammonia manages several KGs that would be the direct recipients of this loan and the resulting tankers. Hellespont Hammonia is a GmbH -- a German abbreviation for “Gesellschaft mit beschränkter Haftung", meaning “company with limited liability" -- the most common form of incorporation in Germany. 2. The individual contributions of the two banks to this $86 million USD syndicated loan are unknown. For the time being, AidData has estimated China Eximbank's contribution by assuming that each lender contributed an equal amount ($43 million USD) to the loan syndicate.