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Overview

ICBC provides a €6.6 million EUR loan to GDF Suez predecessor for unspecified purposes

Commitments (Constant USD, 2023)$16,451,004
Commitment Year•2005Country of Activity•FranceDirect Recipient Country of Incorporation•FranceSector•EnergyFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2005
Last repayment (originally scheduled)
Dec 30, 2012

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)

Receiving agencies

Private Sector

  • Engie S.A.

Loan description

ICBC provides a €6.6 million EUR loan to GDF Suez predecessor for unspecified purposes

Interest type•UnknownMaturity•8 years

Narrative

Full Description

Project narrative

In 2005, the Industrial and Commercial Bank of China (ICBC) issued a €6.6 million EUR corporate loan to an unspecified borrower — one of the two predecessors of GDF Suez (later ENGIE), a French multinational utility born of a merger between French majority state-owned Gaz de France and Suez S.A. — for unspecified purposes. This loan carried a maturity period of approximately eight years and a final maturity date in 2013.

Staff comments

1. There is little information about this loan, including the specific borrower, except that it was either Gaz de France or Suez S.A., as these later became GDF Suez/Engie in 2008. BankTrack, by listing a number of other lenders with corporate loans committed in 2005 maturing in 2008, could indicate the loan was syndicated. However, neither Gaz de France or Suez S.A. had a syndicate loan only adding up to €960.1 million EUR (the sum of the corporate loans listed); their syndicated loans signed in 2005 were worth €3 billion EUR and €4.5 billion EUR respectively. Suez's report does mention that it had negotiated five-year bilateral credit lines, but the corporate loans have eight-year maturities (which may be indicative of extensions). Since AidData cannot even make a likely assumption on the borrower of this loan, it has left the receiving agency field blank.