Overview

China CITIC Bank International provides a $435 million SGD term loan for the acquisition of commercial real estate in Singapore

Commitments (Constant USD, 2023)$297,854,944

Commitment Year•2022Country of Activity•SingaporeDirect Recipient Country of Incorporation•UnknownOverseas Jurisdiction•Hong Kong (China)Sector•Business And Other ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 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% Chinese ownership

Funding agencies

State-owned Commercial Banks

China CITIC Bank International Limited (formerly CITIC Ka Wah Bank)

Receiving agencies

Private Sector

Unspecified Entity for the acquisition of commercial real estate in Singapore

Guarantors

Private Sector

Fullshare Holdings Limited

Loan description

China CITIC Bank International provides a $435 million SGD term loan for the acquisition of commercial real estate in Singapore

Interest type•Unknown

Narrative

Full Description

Project narrative

In or prior to January 2022, the Singapore Branch of China CITIC Bank International Limited entered into a U.S. dollar-denominated $435 million SGD term loan facility with an unspecified borrower for the acquisition of commercial real estate in Singapore. Fullshare Holdings Limited, a multinational conglomerate and investment company established in Nanjing, China in 2002 and listed on the Hong Kong stock exchange in December 2013, issued a guarantee in support of this loan.

Staff comments

1. King & Wood Mallesons advised China CITIC Bank International on this term loan facility. 2. The specific commitment date is unknown. However, this loan must have been made prior to January 27, 2022, as an Internet Archive snapshot of King & Wood Mallesons Singapore Banking & Finance experience lists this loan as one of the deals the firm supported. Therefore, in the absence of further information, AidData has coded January 2022 as the estimated commitment date. This issue warrants further investigation. 3. AidData has assumed the borrower was an affiliate of Fullshare Holding Limited.