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Overview

Bank of China (Europe) Dublin Branch contributes $50 million USD to $400 million USD syndicated revolving credit facility to Keywords Studios to support its growth

Commitments (Constant USD, 2023)$50,000,000
Commitment Year•2023Country of Activity•IrelandDirect Recipient Country of Incorporation•United KingdomOverseas Jurisdiction•IrelandSector•Business And Other ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jul 21, 2023

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

  • Bank of China (Europe) S.A. (formerly Bank of China (Luxembourg) S.A. or BOC Luxembourg)

Cofinancing agencies

Private Sector

  • Citibank, N.A.
  • Danske Bank A/S
  • HSBC Continental Europe S.A. (formerly HSBC France S.A.)
  • ING Bank N.V.
  • The Governor and Company of the Bank of Ireland

State-owned Banks

  • Allied Irish Banks, p.l.c. (AIB)

Receiving agencies

Private Sector

  • Keyword Studios PLC

Loan description

In 2023, Bank of China (Europe) contributes $50 million USD to $400 million USD syndicated revolving credit facility to Keywords Studios to support its growth

Interest type•UnknownMaturity•4 years

Narrative

Full Description

Project narrative

On July 21, 2023, a syndicate of seven lenders — including the Dublin Branch of Bank of China (Europe) S.A (BOC) — entered into a $400 million USD syndicated multicurrency revolving credit facility (RCF) agreement with Keywords Studios PLC — an Ireland-based solutions company that specializes in technology and video games — to support its growth. This unsecured RCF has a four-year maturity period, with the option to extend by another year at the discretion of the lender(s) and a final maturity date in July 2027. This RCF featured an accordion option to increase the value of this facility by $100 million USD to $500 million USD. This loan refinanced a prior €150 million EUR unsecured multicurrency RCF. The financial covenants of the previous loan remained unchanged. BOC contributed $50 million USD to the facility. In addition to BOC the following lenders contributed: London Branch of the Citibank, N.A., HSBC Continental Europe, Dublin Branch of ING Bank N.V., Allied Irish Banks, p.l.c., Northern Bank Ltd trading as Danske Bank, and The Governor and Company of the Bank of Ireland.