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Overview

Bank of China contributes to USD 920 million syndicated lending facility to CMA CGM for general corporate purposes (linked to Record ID#101047)

Commitments (Constant USD, 2023)$471,754,463
Commitment Year•2014Country of Activity•FranceDirect Recipient Country of Incorporation•FranceSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2014
Last repayment (originally scheduled)
Dec 29, 2025

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

  • Bank of China (BOC)

Cofinancing agencies

State-owned Commercial Banks

  • Industrial and Commercial Bank of China (ICBC)

Receiving agencies

Private Sector

  • CMA CGM S.A.

Insurance providers

State-owned companies

  • China Export & Credit Insurance Corporation (Sinosure)

Loan description

2014 Bank of China and ICBC contributions to USD 920 million syndicated lending facility to CMA CGM for general corporate purposes in France

Interest type•UnknownMaturity•12 years

Narrative

Full Description

Project narrative

In 2014, ICBC and Bank of China agreed to terms on a USD 920 million term loan with CMA CGM, a French shipping and logistics company. Proceeds from the facility will be used to finance the company's general corporate purposes and optimize its financial statements. The facility holds a 12-year tenor with an unknown interest rate. ICBC and Bank of China served as Mandated Lead Arrangers for the facility. The facility is insured by Sinosure. ICBC's contribution is captured via Record ID#101047. BOC's contribution is captured via Record ID#101048.

Staff comments

1. AidData is unable to ascertain the individual contributions made to the facility by Bank of China or ICBC, therefore equal contributions have been assumed. 2. Although ICBC and Bank of China are listed as the Mandated Lead Arrangers of the facility, it is possible that more banks may have been involved. However, for the time being, AidData has recorded ICBC and BOC as the only participants in the facility. This issue warrants further investigation.