Narrative
Full Description
Project narrative
On December 13, 2018, financial close was reached on a deal in which a syndicate of 26 banks — including ICBC — entered into a €5.000 billion EUR ($5.68399 billion USD) syndicated revolving credit facility (RCF) agreement with Engie S.A. — a French multinational utility company with the Government of France as its largest single shareholder (23.64% stake) — for unspecified purposes. This loan carried a maturity period of five year with two one-year extension options (if both exercised, taking maturity to December 13, 2025). Each lender, including ICBC, contributed €192.31 million EUR ($218.61 million USD) to the loan syndicate. Record ID#101858 captures ICBC's contribution. In addition to ICBC, the following lenders contributed to the loan syndicate: Barclays Bank Plc, Banco Bilbao Vizcaya Argentaria, S.A. (BBVA), BNP Paribas S.A., Bank of America Merrill Lynch (BAML), Crédit Industriel et Commercial (CIC), Citibank N.A., Commerzbank AG, Crédit Agricole Group, Deutsche Bank, HSBC Bank, ING Bank N.V., Intesa Sanpaolo S.p.A., JPMorgan Chase Bank N.A., KBC Bank N.V., La Banque Postale, Lloyds Bank, Mizuho Bank, MUFG Bank, Ltd., Natixis, National Westminster Bank Plc (NatWest), Royal Bank of Canada (RBC), Banco Santander S.A., Société Générale S.A. (SocGen), Standard Chartered Bank Plc, UniCredit S.p.A.. By July 2023, the extension options were exercised by used by the borrower, with the lenders extending loan's maturity to December 2025. Record ID#101859 captures ICBC's contribution to this debt rescheduling.
Staff comments
1. It is likely that the two extension options were exercised in separate years and well prior to July 2023. However, given that AidData has yet to find more specific information, for the time being it has created the extension as one single extension and coded the commitment_date field to July 2023 with the commitment_date_estimated? field marked as True.