Overview

Industrial and Commercial Bank of China (ICBC) contributes to USD 725 million multi-tranche syndicated revolving credit facility to AAA Oils and Fats Pte Ltd (AAAOF)

Commitment Year•2014Country of Activity•SingaporeDirect Recipient Country of Incorporation•SingaporeSector•Agriculture, Forestry, FishingFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Aug 22, 2014

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

ABN AMRO Bank NV
MUFG Bank, Ltd. (Formerly Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU))
Raiffeisen Bank

Receiving agencies

Private Sector

AAA Oils and Fats Pte Ltd (AAAOF)

Loan description

Industrial and Commercial Bank of China contributions to USD 725 million 2014 syndicated revolving credit facility for AAA Oils and Fats working capital purposes

Interest type•Unknown

Narrative

Full Description

Project narrative

On August 22, 2014, a syndicate of banks, including the Industrial and Commercial Bank of China (ICBC), reached financial close on a USD 725 million multi-tranche syndicated revolving credit facility to AAA Oils and Fats Pte Ltd (AAAOF), a wholly-owned subsidiary of palm oil refiner Apical Group based in Singapore. The exact terms of the loan are unknown. Raiffeisen Bank International, ABN AMRO, and MUFG also contributed to the facility. Not all co-financing agencies have been identified, however.