Skip to content
AidData logo

Overview

ICBC contributes to EUR 600 million syndicated loan to Hugo Boss for working capital purposes (linked to Record ID#100976)

Commitments (Constant USD, 2023)$72,324,834
Commitment Year•2021Country of Activity•GermanyDirect Recipient Country of Incorporation•GermanySector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Nov 1, 2021
Last repayment (originally scheduled)
Oct 31, 2024

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

  • Bank of America Corporation
  • BNP Paribas S.A.
  • Commerzbank Aktiengesellschaft (Commerzbank AG)
  • Deutsche Bank AG
  • DZ Bank AG
  • HSBC Bank PLC

State-owned Banks

  • Landesbank Baden-Württemberg (LBBW)

State-owned Commercial Banks

  • Bank of China (BOC)

Receiving agencies

Private Sector

  • Hugo Boss AG

Guarantors

Private Sector

  • Hugo Boss AG

Loan description

In 2021, Bank of China and ICBC contribute to EUR 600 million syndicated loan to Hugo Boss for working capital purposes

Interest type•UnknownMaturity•3 years

Narrative

Full Description

Project narrative

In November 2021, the Industrial and Commercial Bank of China (ICBC) contributed to an EUR 600 million syndicated loan to Hugo Boss - a German luxury fashion brand -- for working capital purposes. Loan terms included a maturity of three years with two year-long extension options, the option to increase the credit volume by up to EUR 300 million, guarantee provided by Hugo Boss, and a sustainability-linked interest rate adjusted annually. This loan replaces an existing EUR 633 million syndicated loan for Hugo Boss. The syndicate consisted of nine banks: Bank of China (captured in Record ID#100976), ICBC (captured in this Record ID#100978), Commerzbank, BNP Paribas, LBBW, Bank of America, Deutsche Bank, DZ Bank, and HSBC.

Staff comments

1. The individual contributions of the 9 lenders to this EUR 600 million syndicated loan is unknown. For the time being, AidData has assumed each lender contributed equally (EUR 66,666,666.67) to the loan.