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Overview

China Eximbank contributes to $200 million USD syndicated loan to Bernhard Schulte for the acquisition of three container vessels

Commitments (Constant USD, 2023)$68,370,212
Commitment Year•2014Country of Activity•GermanyDirect Recipient Country of Incorporation•GermanySector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2014
Start (actual)
Jun 20, 2015
End (actual)
Jun 20, 2015

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

Private Sector

  • ABN AMRO Bank NV
  • JPMorgan Chase Bank, N.A. (Chase Bank, formerly the Chase Manhattan Bank)

Receiving agencies

Private Sector

  • Bernhard Schulte GmbH & Co. KG

Loan description

China Eximbank contributes to $200 million syndicated loan to Bernhard Schulte for three container vessels

Interest type•Unknown

Narrative

Full Description

Project narrative

In 2014, China Eximbank contributed to a $200 million syndicated loan to German maritime services company Bernhard Schulte GmbH & Co. KG for the acquisition of three container vessels, namely Max Schulte, Melchior Schulte and Mia Schulte. The syndicate included JPMorgan and ABN AMRO. Each of the three 2,400 twenty-foot equivalent units (TEU) container vessels, measuring 189 meters in length and 30.4 meters in breadth, were part of a 12 x 2,400 TEU container newbuilding programme. These vessels were successfully delivered in the spring of 2015.

Staff comments

1. The individual contributions of the 3 known lenders to this $200 million USD syndicated loan are unknown. For the time being, AidData has assumed that each lender contributed equally ($66,666,666.67 USD) to the loan. 2. AidData has estimated the last day of spring 2015 as the start and completion date.