Overview

Bank of China contributes $20.8 million USD to a $250 million USD syndicated revolving credit facility to IXM for refinancing purposes

Commitments (Constant USD, 2023)$20,930,963

Commitment Year•2018Country of Activity•SwitzerlandDirect Recipient Country of Incorporation•SwitzerlandSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Dec 18, 2018

Last repayment (originally scheduled): Dec 18, 2019

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

Bank of China (BOC)

Cofinancing agencies

Private Sector

ABN AMRO Bank NV
BNP Paribas S.A.
Citigroup Inc.
ING Bank N.V.
MUFG Bank, Ltd. (Formerly Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU))
Natixis
Société Générale S.A. (SocGen or Societe Generale)
Standard Chartered Bank PLC
UBS Group AG
UniCredit S.p.A. (formerly UniCredito Italiano S.p.A.)

State-owned Banks

Banco do Brasil S.A.

Receiving agencies

Private Sector

IXM S.A. (formerly known as Louis Dreyfus Company Metals B.V. (LDCM))

Loan description

2018 syndicated $250 million USD revolving credit facility from BoC and others to Colgate-Palmolive Company for refinancing

Interest type•UnknownMaturity•1 years

Narrative

Full Description

Project narrative

On December 18, 2018, a syndicate of 12 banks — including the Bank of China (BOC) — entered into a $250.00 million USD syndicated revolving credit facility (RCF) agreement with IXM S.A. — a Geneva, Switzerland headquartered base metal commodity trading company, formerly known as Louis Dreyfus Company Metals B.V. (LDCM) of Louis Dreyfus Company B.V., 45% owned by NCCL Natural Resources Investment Fund, a subsidiary of China Molybdenum Company Limited (45% stake) and China Anxing Asset Management (55% stake) — for refinancing purposes. This loan carried a maturity period of one year and a final maturity date of December 18, 2019. The proceeds were to be used by the borrower to refinance its existing debt. BOC contributed $20.80 million USD to the loan syndicate. In addition to BOC, the following lenders contributed the respective amounts to the loan syndicate: ABN AMRO Bank N.V. ($20.80 million USD), Banco do Brasil S.A. ($20.80 million USD), BNP Paribas S.A. ($20.80 million USD), ING Bank N.V. ($20.80 million USD), MUFG Bank, Ltd. ($20.80 million USD), Natixis ($20.80 million USD), Société Générale S.A. (SocGen) ($14.00 million USD), Standard Chartered Bank ($20.80 million USD), UBS AG ($14.00 million USD), UniCredit S.p.A. ($20.80 million USD), and Citigroup ($14.00 million USD).