Skip to content
AidData logo

Overview

ICBC contributes to a $500 million USD syndicated loan to AZ Electronic Materials S.à.r.l. for refinancing purposes

Commitments (Constant USD, 2023)$45,159,076
Commitment Year•2012Country of Activity•LuxembourgDirect Recipient Country of Incorporation•LuxembourgSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Dec 1, 2012
Last repayment (originally scheduled)
May 31, 2017

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

  • Australia and New Zealand Banking Group (ANZ)
  • Banco Santander, S.A. (Santander Group) (formerly Banco Santander Central Hispano, S.A.)
  • Barclays Bank PLC
  • Commerzbank Aktiengesellschaft (Commerzbank AG)
  • Crédit Mutuel Equity S.A. (formerly CM-CIC Investissement)
  • HSBC Bank PLC
  • Mizuho Bank, Ltd.
  • MUFG Bank, Ltd. (Formerly Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU))
  • Sumitomo Mitsui Banking Corporation (SMBC)

State-owned Banks

  • Bayerische Landesbank (BayernLB)
  • Royal Bank of Scotland (RBS)

Receiving agencies

Private Sector

  • AZ Electronic Materials S.à.r.l.

Loan description

2012 syndicated $500 million USD loan from ICBC and others to AZ Electronic Materials S.à.r.l. for refinancing purposes in Luxembourg

Interest type•UnknownMaturity•4.5 years

Narrative

Full Description

Project narrative

In early December 2012, a syndicate of 12 lenders — including the Industrial and Commercial Bank of China (ICBC) — entered into a $500 million USD-equivalent multicurrency syndicated loan facility agreement with AZ Electronic Materials S.à.r.l. — a Luxembourg-incorporated and headquartered specialty electronics and chemicals company, listed on the London Stock Exchange — for refinancing purposes. The facility included three tranches: a $125 million USD amortizing term loan, a €45 million EUR amortizing term loan, and a $315 million USD revolving credit facility (RCF). All tranches carried a maturity date of April 2017. The syndicate included the following lenders: Barclays Bank plc, Bayerische Landesbank (BayernLB), HSBC Bank PLC, Mizuho Bank, Royal Bank of Scotland (RBS), and Banco Santander, S.A. (Santander Group) as bookrunners; Australia and New Zealand Banking Group (ANZ), MUFG Bank, Ltd. (Formerly Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU)), and Commerzbank as mandated lead arrangers; and Crédit Mutuel Equity S.A., ICBC, and Sumitomo Mitsui Banking Corporation (SMBC) as lead arrangers.

Staff comments

1. The individual contributions of the 12 lenders to this $500 million USD-equivalent syndicated loan are unknown. AidData has assumed each lender has contributed equally to each tranche. For the time being, AidData has estimated the contribution of ICBC by assuming that each lender contributed an equal amount ($41,666,666.6667 USD) to the loan syndicate.