Narrative
Full Description
Project narrative
In October 2018, a syndicate of 30 banks — including the Agricultural Bank of China (ABC), the Bank of China (BOC), and the Industrial and Commercial Bank of China (ICBC) — entered into a €1.65 billion EUR-equivalent ($1.88 billion USD) multi-currency secured syndicated loan agreement with Ravago S.A. — a Luxembourg-incorporated and headquartered company involved in the production, sale, compounding, and recycling of plastics, polymers, rubber, and chemicals that is privately owned by the Roussis family of Belgium — for general corporate and working capital purposes. This was an amendment and restatement of an existing loan. The proceeds were to be used by for the borrower for general corporate and working capital purposes. Record ID#104395 captures ABC's contribution. Record ID#104396 captures BOC's contribution. Record ID#104397 captures ICBC's contribution. In addition to the three Chinese state-owned banks, the following lenders contributed to the loan syndicate: ING Group N.V., KBC Group N.V., ABN AMRO Bank N.V., Bayerische Landesbank (BayernLB), Belfius Bank S.A., BNP Paribas S.A., Commerzbank AG, Deutsche Bank, HSBC Bank PLC, MUFG Bank, Ltd., Banco de Sabadell S.A., Banco Bilbao Vizcaya Argentaria, S.A. (BBVA), First Abu Dhabi Bank (FAB), Coöperatieve Rabobank U.A. (Rabobank), Raiffeisen Bank International AG, Société Générale S.A. (SocGen), UBS AG, UniCredit S.p.A., Banque Cantonale de Genève (BCGE), Banque Palatine, Barclays Bank Plc, Crédit Agricole, DBS Bank, Emirates NBD Bank PJSC, ICICI Bank Limited, NatWest Markets Plc, and Nedbank. ING and KBC served as mandated lead arrangers and bookrunners. ABC, BOC, ICBC, ABN AMRO, BayernLB, Belfius, BNP Paribas, Commerzbank, Deutsche Bank, HSBC, and MUFG joined in syndication as senior mandated lead arrangers. Banco de Sabadell, BBVA, FAB, Rabobank, Raiffeisen Bank, SocGen, UBS, and UniCredit joined in syndication as junior lead arrangers. BCGE, Banque Palatine, Barclays, Crédit Agricole, DBS, Emirates NBD, ICICI, NatWest Markets, and NBSA joined in syndication as lead arrangers. Ravago launched the facility at €1.5 billion EUR because increased it due to oversubscription.
Staff comments
1. The individual contributions of the 30 lenders to this €1.65 billion EUR 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 ABC, BOC, and ICBC by assuming that each lender contributed an equal amount (€55,000,000 EUR) to the loan syndicate.