Overview

China Development Bank provides a €66.1 million EUR to Schiess GmbH for debt restructuring purposes and subsequent capacity expansion

Commitments (Constant USD, 2023)$92,061,865

Commitment Year•2012Country of Activity•GermanyDirect Recipient Country of Incorporation•GermanySector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2012

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 Policy Banks

China Development Bank (CDB)

Receiving agencies

State-owned companies

SCHIESS GmbH

Loan description

China Development Bank provides a €66.1 million EUR to Schiess GmbH for debt restructuring purposes and subsequent capacity expansion

Interest type•Unknown

Narrative

Full Description

Project narrative

In 2012, China Development Bank (CDB) issued a €66.1 million EUR loan to Schiess GmbH — a wholly-owned Germany-based subsidiary of Shenyang Machine Tools Co., Ltd. — to support the restructuring of its debts and subsequent capacity expansion. As of the end of 2012, CDB had disbursed an aggregate of € 66.11 million EUR in loans.