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Overview

ICBC contributes to the BHT 30 billion tranches of a dual-currency syndicated loan to Charoeon Pokphand Group for refinancing and expansion purposes (Linked to Record ID#105348)

Commitments (Constant USD, 2023)$139,799,177
Commitment Year•2011Country of Activity•ThailandDirect Recipient Country of Incorporation•ThailandSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Mar 18, 2011
Last repayment (originally scheduled)
Mar 16, 2018

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

  • Krungthai Bank PCL
  • Siam Commercial Bank
  • TMBThanachart Bank (TTB) (TMB Bank) (Thai Military Bank)
  • United Overseas Bank Limited (UOB)

State-owned Banks

  • Bank of Ayudhya Public Company Limited
  • Export-Import Bank of Thailand
  • Government Savings Bank

Receiving agencies

Private Sector

  • Charoen Pokphand Group (CP)

Loan description

March 2011 dual-currency syndicated loan to Charoeon Pokphand Group for refinancing and expansion purposes in Thailand

Interest type•UnknownMaturity•7 years

Narrative

Full Description

Project narrative

Between March 11 and 17, 2011, a syndicate of eight banks — including the Industrial and Commercial Bank of China (ICBC) — signed a multi-currency syndicated loan agreement with Charoeon Pokphand Group — a Thai conglomerate based in Bangkok — for refinancing and expansion purposes. This loan carried a maturity period of seven years and was divided into three tranches: a BHT 20 billion tranche, a BHT 10 billion tranche, and a $500 million facility tranche. The proceeds were to be used by the borrower to refinance existing indebtedness and to support business expansion. Siam Commercial Bank was sole bookrunner. Krungthai Bank joined as a mandated lead arranger. Bank of Ayudhya, Export-Import Bank of Thailand, Government Savings Bank, ICBC, Thanachart Bank, and UOB joined as participants. Record ID#102769 captures ICBC's contribution to the combined BHT 30 billion tranches. Record ID#105348 captures ICBC's contribution to the $500 million facility tranche.

Staff comments

1. The individual contributions of the eight lenders to this BHT 20 billion tranche, a BHT 10 billion tranche, and a $500 million facility tranche are unknown. For the time being, to estimate BOC's contribution, AidData has assumed that each lender contributed equally (THB 3,750,000,000 and $62,500,000 USD) to the loan syndicate, divided into separate records assuming BOC contributed to both and because of the different transaction amounts.