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Overview

Bank of China provides a $100 million AUD loan to Charter Hall Long WALE REIT for unspecified purposes

Commitments (Constant USD, 2023)$75,153,883
Commitment Year•2018Country of Activity•AustraliaDirect Recipient Country of Incorporation•AustraliaSector•Business And Other ServicesFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Aug 1, 2018
Last repayment (originally scheduled)
Aug 1, 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

  • Bank of China (BOC)

Receiving agencies

Private Sector

  • LWR Finance Trust

Loan description

Bank of China provides a $100 million AUD loan to Charter Hall Long WALE REIT for unspecified purposes

Interest type•UnknownMaturity•5 years

Narrative

Full Description

Project narrative

In August 2018, the Bank of China (BOC) entered into a $100,000,000 AUD bilateral loan agreement with LWR Finance Trust — a trust responsible for financing Charter Hall Long WALE REIT an Australian real estate investment trust (REIT) that invests in Australasian real estate and is managed by Australian property group Charter Hall Group and listed on the Australian Securities Exchange (ASX) — for unspecified purposes. This loan carried a maturity period of five years and a final maturity date of August 2023 and a final maturity date of August 2023. This loan was unsecured. As of June 30, 2019, $25,100,000 AUD had been drawn down under this loan. As of June 30, 2020, all $100,000,000 AUD had been drawn down under this loan. Between January 1, 2021 and June 30, 2021, this loan was repaid and cancelled.

Staff comments

1. AidData assumes that this loan, which is known to have been committed between July 1 and December 31, 2018, was committed in August 2018 as the final maturity date was in August 2023 and it had a five-year maturity period. 2. AidData has assessed that this loan was repaid between January 1 and June 30, 2021 because it appears as debt in the interim report for July 1 to December 31, 2020, but not in the full report including January 1 and June 30, 2021; the annual results for 2021 states that no international bilateral debt was debt in fiscal year 2024 (which August 2023 fell in).