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Overview

ICBC contributes to a $2.2 billion AUD syndicated loan to Aware Super for unspecified purposes (Linked to Record ID#101277)

Commitments (Constant USD, 2023)$111,048,189
Commitment Year•2022Country of Activity•AustraliaDirect Recipient Country of Incorporation•AustraliaSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jun 21, 2022

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

  • Australia and New Zealand Banking Group (ANZ)
  • Commonwealth Bank of Australia (CBA) (CommBank)
  • Credit Agricole S.A. (Crédit Agricole Group)
  • Mitsubishi UFJ Financial Group
  • Mizuho Bank, Ltd.
  • National Australia Bank Limited (NAB)
  • Royal Bank of Canada (RBC)
  • Standard Chartered Bank PLC
  • Westpac Banking Corporation

State-owned Commercial Banks

  • Bank of China (BOC)

Receiving agencies

Joint Venture/Special Purpose Vehicles

  • Aware Super ELF Finco Pty Ltd

Loan description

June 2022 $2.2 billion AUD syndicated loan to Aware Super for unspecified purposes in Australia

Interest type•Unknown

Narrative

Full Description

Project narrative

During the week of June 21, 2022, a syndicate of 13 banks — including the Bank of China (BOC) and the Industrial and Commercial Bank of China (ICBC) — entered into a $2.2 billion AUD syndicated loan agreement with Aware Super ELF Finco Pty Ltd — an Australia-incorporated special purpose vehicle (SPV) owned by Aware Super Pty Ltd, an Australian superannuation fund headquartered in Sydney, New South Wales — for unspecified purposes. Record ID#101277 captures BOC's contribution. Record ID#101278 captures ICBC's contribution. In addition to BOC and ICBC, the following lenders contributed to the loan syndicate: Commonwealth Bank of Australia (CBA), Westpac Banking Corporation, Australia and New Zealand Banking Group (ANZ), National Australia Bank Limited (NAB), Royal Bank of Canada (RBC), Crédit Agricole Group, Mizuho Bank, Mitsubishi UFJ Financial Group, and Standard Chartered Bank PLC. NAB served as arranger.

Staff comments

1. The individual contributions of the 13 lenders to this $2.2 billion AUD syndicated loan are unknown. For the time being, AidData has estimated the contributions of BOC and ICBC by assuming that each lender contributed equally ($169,230,769.231 AUD) to the loan.