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Overview

China Construction Bank contributes $37.14 million AUD to a $260 million AUD syndicated loan to Australian Rail Track Corporation for unspecified purposes (Linked to Record ID#101204)

Commitments (Constant USD, 2023)$24,673,544
Commitment Year•2023Country of Activity•AustraliaDirect Recipient Country of Incorporation•AustraliaSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Sep 15, 2023

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

  • China Construction Bank Corporation (CCB)

Cofinancing agencies

Private Sector

  • Australia and New Zealand Banking Group (ANZ)
  • Commonwealth Bank of Australia (CBA) (CommBank)
  • Mizuho Financial Group (MHFG)
  • Sumitomo Mitsui Banking Corporation (SMBC)
  • Westpac Banking Corporation

State-owned Commercial Banks

  • Bank of China (BOC)

Receiving agencies

State-owned companies

  • Australian Rail Track Corporation Limited (ARTC)

Loan description

September 2023 $260 million AUD syndicated loan to Australian Rail Track Corporation for unspecified purposes in Australia

Interest type•Unknown

Narrative

Full Description

Project narrative

On September 15, 2023, financial close was reached on a deal in which a syndicate of seven lenders — including the Bank of China (BOC) and China Construction Bank Corporation (CCB) — entered into a $260.00 million AUD ($168.11 million USD) syndicated loan agreement with Australian Rail Track Corporation (ARTC) — a statutory corporation wholly owned by the Government of Australia that provides and maintains rail infrastructure in five Australian states — for unspecified purposes. Each lender contributed $37.14 million AUD ($24.02 million USD) to the loan syndicate. Record ID#101204 captures BOC's contribution. Record ID#101205 captures CCB's contribution. In addition to BOC and CCB, the following lenders contributed to the loan syndicate: Australia and New Zealand Banking Group (ANZ), Commonwealth Bank of Australia (CBA), Mizuho Financial Group (MHFG), Sumitomo Mitsui Banking Corporation (SMBC), and Westpac Banking Corporation.