Overview

China Eximbank provides $105.9 million in buyer credit loans to Iron Mining International Mongolia Limited for unspecified purposes

Commitments (Constant USD, 2023)$136,317,817

Commitment Year•2010Country of Activity•MongoliaDirect Recipient Country of Incorporation•British Virgin IslandsSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Mar 12, 2010

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 Policy Banks

Export-Import Bank of China (China Eximbank)

Receiving agencies

Joint Venture/Special Purpose Vehicles

Iron Mining International Mongolia Limited

Collateral providers

Joint Venture/Special Purpose Vehicles

Mongolian Railway Holding Hong Kong Company

Loan description

China Eximbank provides $105.9 million in buyer credit loans to Iron Mining International Mongolia Limited for unspecified purposes

Interest type•Unknown

Collateral

51% ownership (equity) stake of Mongolia Railway Holding (Hong Kong) in Mongolia East Gobi.

Narrative

Full Description

Project narrative

On March 12, 2010, the Export-Import Bank of China signed two buyer’s credit loan agreements worth $105,990,000 USD with Iron Mining International Mongolia Limited (铁矿国际有限公司) — a special purpose vehicle legally incorporated in the British Virgin Islands with mining operations in Mongolia headquartered in Hong Kong — for unspecified purposes. As a source of collateral, a subsidiary of Iron Mining International, Mongolia Railway Holding (Hong Kong) pledged its 51% ownership (equity) stake in Mongolia East Gobi to China Eximbank.