Overview

ICBC contributes to EUR 2.7 billion syndicated lending facility to PSA Peugeot Citroen for debt refinancing purposes

Commitments (Constant USD, 2023)$408,190,660

Commitment Year•2014Country of Activity•FranceDirect Recipient Country of Incorporation•FranceSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Feb 25, 2014

Last repayment (originally scheduled): Feb 24, 2018

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

Banco Santander, S.A. (Santander Group) (formerly Banco Santander Central Hispano, S.A.)
BNP Paribas S.A.
Citigroup Inc.
Crédit Agricole Corporate and Investment Bank (CACIB) (Crédit Agricole CIB) (Formerly Calyon) (Formerly Crédit Agricole Indosuez (CAI))
Deutsche Bank AG
HSBC Continental Europe S.A. (formerly HSBC France S.A.)
Natixis
Société Générale S.A. (SocGen or Societe Generale)

Receiving agencies

Private Sector

PSA Group (Peugeot S.A.) (formerly PSA Peugeot Citroën)

Loan description

2014 syndicated €2.7 billion EUR lending facility from ICBC and others to PSA Peugeot Citroen for debt refinancing purposes

Interest type•UnknownMaturity•4 years

Narrative

Full Description

Project narrative

On February 25, 2014, a syndicated of nine banks -- including ICBC -- agreed to terms on a EUR 2.7 billion syndicated lending facility with PSA Peugeot Citroën. Proceeds from the facility will be used for refinancing a 2010 EUR 2.4 billion facility provided by BNP Paribas, Credit Agricole CIB, HSBC, Natixis, RBS, and SocGen. The new facility has two tranches: a EUR 2 billion five-year term facility with an unknown interest rate and a EUR 700 million three-year term facility with two one-year extension options, also with an unknown interest rate. Other lending details are unknown. According to PSA, the new, refinanced facility will increase the company's flexibility. A total of nine banks joined the syndicate, each with unknown contributions. The participants were: Banco Santander, BNP Paribas, Citigroup, Credit Agricole CIB, Deutsche Bank, HSBC France, ICBC, Natixis, and Societe Generale.

Staff comments

1. AidData is unable to ascertain the individual contributions made to the facility by each member of the syndicate. Therefore, equal contributions from each bank have been assumed. Similarly, due to an absence of information on the tranche-by-tranche breakdown, AidData has used the average maturity of the two tranches in the creation of this project record.