Overview

Bank of China contributes €90.91 million EUR to €2 billion EUR bridge facility tranche of €3.35 billion EUR syndicated loan to Iliad Group for general corporate purposes (Linked to Record ID#103820)

Commitments (Constant USD, 2023)$90,423,788

Commitment Year•2022Country of Activity•FranceDirect Recipient Country of Incorporation•FranceSector•CommunicationsFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jul 27, 2022

Last repayment (originally scheduled): Jan 27, 2025

Geospatial footprint

Map overview

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The project was a loan to French telecommunications provider Iliad S.A., headquartered at 16 Rue de la Ville-l'Évêque, 75008 Paris, France. More detailed locational information can be found at: https://www.openstreetmap.org/relation/1066811

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 (BOC)

Cofinancing agencies

Private Sector

Banco Sabadell
Banco Santander, S.A. (Santander Group) (formerly Banco Santander Central Hispano, S.A.)
Bank CIC (Switzerland) Ltd. (Banque CIC (Suisse) S.A.
BNP Paribas S.A.
BofA Securities, Inc. (Formerly Bank of America Merrill Lynch (BAML))
Commerzbank Aktiengesellschaft (Commerzbank AG)
Credit Agricole S.A. (Crédit Agricole Group)
Erste Bank
Goldman Sachs Group, Inc.
JPMorgan Chase Bank, N.A. (Chase Bank, formerly the Chase Manhattan Bank)
LCL S.A. (formerly Le Crédit Lyonnais)
MUFG Bank, Ltd. (Formerly Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU))
Natixis
Raiffeisen Bank
Royal Bank of Canada (RBC)
Société Générale S.A. (SocGen or Societe Generale)
Sumitomo Mitsui Banking Corporation (SMBC)
UniCredit S.p.A. (formerly UniCredito Italiano S.p.A.)

State-owned Banks

Bayerische Landesbank (BayernLB)
La Banque postale
Landesbank Hessen-Thüringen (Helaba)

Receiving agencies

Private Sector

Iliad S.A.

Loan desecription

2022 syndicated €3.35 billion EUR loan from BoC and others to Iliad Group for general corporate purposes

Interest type•UnknownMaturity•2.5 years

Narrative

Full Description

Project narrative

On July 27, 2022, a syndicate of 22 lenders — including Bank of China (BOC) — entered into a €3.35 billion EUR ($3.4 billion USD) syndicated loan facility to Iliad SA — a French telecommunications company — for general corporate purposes. The loan is comprised of three tranches: a €350 million EUR ($355.28 million USD) revolver tranche, €1 billion EUR ($1.01507 billion USD) term loan tranche which carries a maturity of five years and a final maturity date of July 27, 2027, and a €2 billion EUR ($2.03015 billion USD) bridge facility with a maturity of 2.5 years and a final maturity date of January 27, 2025. The syndicate includes: BOC, Banco Sabadell, Bank of America Securities Inc, BNP Paribas SA, Bayerische Landesbank (BayernLB), Commerzbank Aktiengesellschaft (Commerzbank AG), Credit Agricole Group, Credit Industriel et Commercial (CIC), Erste Bank, Goldman Sachs Group Inc, Landesbank Hessen-Thüringen (Helaba), JP Morgan Chase Bank, La Banque Postale SA, Credit Lyonnais, MUFG Bank, Ltd., Natixis, Raiffeisen Bank, Royal Bank of Canada, Banco Santander SA, Societe Generale SA, Sumitomo Mitsui Banking Corporation (SMBC), and UniCredit. Each lender contributed €45.45 million EUR ($46.14 million USD) to the €1 billion EUR term loan tranche, and contributed €90.91 million EUR ($92.28 million USD) to the €2 billion EUR bridge facility. Record ID#103820 captures BOC's contribution to the €1 billion EUR term loan tranche and Record ID#103821 captures BOC's contribution to the €2 billion EUR bridge facility. The facility also refinanced an existing €1.65 billion EUR RCF, increasing it to €2 billion EUR and extended its maturity to seven years.