Overview

ICBC contributes to USD 624.97 million syndicated lending facility to SFR FTTH to finance fiber rollout

Commitments (Constant USD, 2023)$192,103,619

Commitment Year•2021Country of Activity•FranceDirect Recipient Country of Incorporation•FranceSector•CommunicationsFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jun 30, 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

Industrial and Commercial Bank of China (ICBC)

Cofinancing agencies

Private Sector

Erste Group Bank AG (Erste Group)

State-owned Banks

Allied Irish Banks, p.l.c. (AIB)

Receiving agencies

Private Sector

SFR FTTH

Loan description

2021 syndicated $624.97 million USD loan facility from ICBC and others to SFR FTTH to finance fiber rollout

Interest type•Unknown

Narrative

Full Description

Project narrative

On June 30, 2021, a syndicate of banks -- including ICBC, allied Irish Banks (AIB), and Erste Group Bank -- reached financial close on a USD 624.97 million syndicated lending facility with SFR FTTH, a French telecommunications company. The purpose of the facility is to finance the roll-out of SFR's FTTH fiber network in France. Other financial details, including the individual contributions made by each bank, are unknown.

Staff comments

1. AidData is unable to ascertain the individual contributions made to the facility by each member of the syndicate, nor whether there are more banks involved in the syndicate. For the time being, AidData has assumed that the three listed banks are the only three members of the syndicate and each contributed equally. This issue requires further investigation.