Skip to content
AidData logo

Overview

Bank of China contributes €20 million EUR to a €300 million EUR syndicated loan to Cimentos de Portugal for unspecified purposes

Commitments (Constant USD, 2023)$50,788,907
Commitment Year•2003Country of Activity•PortugalDirect Recipient Country of Incorporation•PortugalSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jul 1, 2003
Last repayment (originally scheduled)
Jun 29, 2008

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

Loading map…

This agreement supports BOC’s loan facility to Cimpor – Cimentos de Portugal, S.G.P.S., S.A., which is headquartered at Rua Ramalho Ortigão No. 51, Floors 7 and 8 1070-229 Lisbon. More detailed locational information can be found at https://www.openstreetmap.org/way/172886449.

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Funding agencies

State-owned Commercial Banks

  • Bank of China (BOC)

Cofinancing agencies

Private Sector

  • ABN AMRO Bank NV
  • Banca di Roma S.p.A.
  • Banco Bilbao Vizcaya Argentaria, S.A. (BBVA)
  • Banco Comercial Português (BCP)
  • Banco Santander (Portugal) (formerly Banco Santander Totta S.A. and Banco Totta & Acores S.A.)
  • BNP Paribas S.A.
  • Fortis International Finance (Dublin)
  • ING Bank N.V.
  • La Caixa de Aforros de Vigo, Ourense e Pontevedr (Caja de Ahorros de Vigo, Orense y Pontevedra) (Caixanova)
  • SMBC Bank International PLC (formerly Sumitomo Mitsui Banking Corporation Europe Limited (SMBCE))
  • Société Générale S.A. (SocGen or Societe Generale)

Receiving agencies

Private Sector

  • Cimpor – Cimentos de Portugal, S.G.P.S., S.A.

Loan desecription

2003 syndicated €300 million EUR loan facility from BoC and others to Cimentos de Portugal for unspecified purposes in Portugal

Interest rate (t₀)•2.571%Interest type•Variable Interest RateMaturity•5 years

Narrative

Full Description

Project narrative

In early July 2003, a syndicate of 13 banks — including the Bank of China (BOC) — signed a €300 million EUR syndicated term loan agreement with Cimpor – Cimentos de Portugal, S.G.P.S., S.A. — a Portuguese cement company headquartered in Lisbon and listed on the Euronext Lisbon — for unspecified purposes. This term loan carried a maturity period of five years and an interest rate of EURIBOR plus a margin of 50 basis points (bps). In addition to BOC, the following lenders contributed to the loan syndicate: ABN AMRO Bank N.V., BNP Paribas S.A., Banco Totta & Acores S.A., Fortis International Finance, ING Bank N.V., Société Générale S.A. (SocGen), Banco Bilbao Vizcaya Argentaria, S.A. (BBVA), Citigroup, Sumitomo Mitsui Banking Corporation Europe Limited (SMBCE), Banca di Roma S.p.A., Banco Comercial Português (BCP), and La Caixa de Aforros de Vigo, Ourense e Pontevedr (Caixanova). ABN AMRO and BNP Paribas served as mandated lead arrangers. Banco Totta & Acores, Fortis International Finance, ING Bank, and SocGen served as arrangers. BOC, BBVA, Citigroup, and SMBCE served as co-arrangers. Banca di Roma, BCP, and Caixa Nova served as lead managers. Banks joining in syndication were offered three commitment levels: €30 million EUR, €20 million EUR, and €10 million EUR. As BOC was a co-arranger, AidData has assumed it contributed €20 million EUR.

Staff comments

1. A 6-month EURIBOR was assumed. The average 6-month USD EURIBOR for July 2003 was 2.093%. Therefore, the interest rate has been coded as 2.093% + 0.50% = 2.593%.