Agricultural Bank of China contributes $100 million syndicated lending facility to Loc Troi for working capital purposes (Linked to Record ID#100536)

Project narrative

On October 24, 2022, a group of Chinese and non-Chinese banks -- including Agricultural Bank of China (Hanoi Branch) and China Construction Bank (HCMC Branch) -- signed a $100 million syndicated lending facility agreement with Loc Troi (the biggest agriculture and chemicals company in Vietnam). Agriculture Bank of China's estimated contribution is captured via Record ID#10053 and China Construction Bank's estimated contribution is captured via Record ID#100536. The facility proceeds were to be used by the borrower to supplement working capital in investment activities to expand high-quality rice production, ensuring supply in both quantity and quality for orders in the future. The syndicated loan was to be executed in three years and disbursed in the form of Loc Troi granting rice seeds, agriculture materials and agricultural services to cooperative alliances, cooperatives, cooperative groups and farmers affiliated with the company. In addition to Agriculture Bank of China and China Construction Bank, the other five participants in the loan syndicate were MB Bank, Kasikornbank (mandated lead arrangers and lenders), First Commercial Bank, CTBC Bank Co., Ltd. and E.SUN Commercial Bank, Ltd.'s Branch in Dong Nai Province.