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Overview

Agricultural Bank of China contributes to $500 million syndicated loan to Ilim Group for strategic development projects (Linked to Record ID#66308, #100768 and #100770)

Commitments (Constant USD, 2023)$66,507,899
Commitment Year•2017Country of Activity•RussiaDirect Recipient Country of Incorporation•RussiaSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Nov 27, 2017
Last repayment (originally scheduled)
Nov 26, 2021

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 Commercial Banks

  • Agricultural Bank of China (ABC)

Cofinancing agencies

Private Sector

  • Crédit Agricole Corporate and Investment Bank (CACIB) (Crédit Agricole CIB) (Formerly Calyon) (Formerly Crédit Agricole Indosuez (CAI))
  • Intesa Sanpaolo S.P.A. (formerly Cariplo/Banca Intesa/BCI)
  • Raiffeisen Bank International AG

State-owned Banks

  • Korea Development Bank (KDB)

State-owned Commercial Banks

  • Bank of China (BOC)
  • China Construction Bank Corporation (CCB)
  • Industrial and Commercial Bank of China (ICBC)

Receiving agencies

Private Sector

  • Ilim Group

Implementing agencies

Private Sector

  • Ilim Group

Loan description

ICBC, ABC, BoC and CCB contribution to $500 million syndicated loan for strategic development projects

Interest type•UnknownMaturity•4 years

Narrative

Full Description

Project narrative

On November 27, 2017, ICBC, ABC, BoC and CCB participated in a syndicated loan agreement worth $500 million with Ilim Group, Russia's leading paper company. The loan was arranged by Raiffeisen Bank International (RBI Group) and Intesa Sanpaolo, as well as Crédit Agricole. Other members of the syndicate include Korea KDB Bank. The funds are intended for ‘strategic development projects focusing on Europe and Asia;. The loan carried a 4 year maturity. Record ID#66308 captures the estimated financial commitment of China Construction Bank; Record ID#100768 captures the estimated financial commitment of Bank of China; Record ID#100769 captures the estimated financial commitment of Agricultural Bank of China; and Record ID#100770 captures the estimated financial commitment of ICBC.

Staff comments

1. Ilim Group operates major Russian pulp & paper mills in the Arkhangelsk, and Irkutsk Regions, having branches in Koryazhma, Bratsk and Ust-Ilimsk, as well as forestry branches, procuring raw materials to the production facilities, and two corrugated cardboard plants in the Leningrad and Moscow Regions 2. The individual contributions of ICBC, ABC, BoC, CCB, Raiffeisen Bank International (RBI Group), Intesa Sanpaolo, Crédit Agricole, and Korea KDB Bank to the $500 million syndicated loan are unknown. For the time being, AidData assumes equal contributions ($62,500,000) across all 8 known members of the syndicate.