Overview

Agricultural Bank of China contributes to a $200 million USD syndicated to Concordia Agritrading for unspecified purposes

Commitment Year•2016Country of Activity•SingaporeDirect Recipient Country of Incorporation•SingaporeOverseas Jurisdiction•SingaporeSector•Agriculture, Forestry, FishingFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Nov 1, 2016

Geospatial footprint

Map overview

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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 Commercial Banks

Agricultural Bank of China (ABC)

Receiving agencies

State-owned companies

Concordia Agritrading Pte. Ltd

Loan description

Agricultural Bank of China contributions to USD 200 million 2016 syndicated loan for Concordia Agritrading unspecified corporate purposes

Interest type•Unknown

Narrative

Full Description

Project narrative

In November 2016, a syndicate of banks — including the Singapore Branch of Agricultural Bank of China (ABC) — entered into a $200 million USD loan agreement with Concordia Agritrading Pte. Ltd. — a Singapore-incorporated company responsible for grains and oilseed trading in Asia and wholly-owned subsidiary of Nidera B.V., a Dutch commodity trader and agri-business company based in Rotterdam owned by COFCO International Limited (CIL), a Cayman Islands-incorporated company and wholly-subsidiary of COFCO (Hong Kong) Limited which itself is wholly owned by Chinese state-owned food processing holding, manufacturing, and trading company COFCO Corporation (51% stake) and Cygne B.V., a Netherlands-incorporated holding company represent the family of Nidera's founders (49% stake) — for unspecified purposes.