Overview

ICBC contributes to S$1.08 billion syndicated loan to Frasers Property Ltd for refinancing purposes in 2023

Commitments (Constant USD, 2023)$114,894,656

Commitment Year•2023Country of Activity•SingaporeDirect Recipient Country of Incorporation•SingaporeSector•Business And Other ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Aug 22, 2023

Last repayment (originally scheduled): Aug 20, 2028

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

CIMB Group
DBS Bank Ltd.
ING Bank N.V.
Oversea-Chinese Banking Corporation, Limited (OCBC Bank)
RHB Bank Berhad
United Overseas Bank Limited (UOB)

Receiving agencies

Private Sector

Frasers Property Ltd

Loan description

Industrial and Commercial Bank of China contributions to SGD 1.08 billion 2023 syndicated green loan facility for refinancing purposes

Interest type•UnknownMaturity•5 years

Narrative

Full Description

Project narrative

On August 22, 2023 a group of 7 banks — including the Industrial and Commercial Bank of China (ICBC) — reached financial close on a S$ 1.08 billion syndicated loan with Frasers Property Ltd. Proceeds from this green loan facility were to be used for refinancing purposes. The loan carried a maturity of five years. UOB, DBS, OCBC, ICBC, CIMB, RHB and ING participated in the facility. UOB was appointed the facility agent. DBS served as the security agent for the transaction.

Staff comments

1. The exact size of ICBC contribution is unknown. For the time being, AidData assumes that all 7 members of the lending syndicate contributed equally (S$ 154,285,714) to the S$ 1.08 billion syndicated loan.