Overview

Bank of China contributes to a €300 million EUR syndicated to Drakkar Holdings for general corporate purposes of Adisseo France S.A.S.

Commitments (Constant USD, 2023)$52,220,843

Commitment Year•2012Country of Activity•FranceDirect Recipient Country of Incorporation•BelgiumSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jun 1, 2012

Last repayment (originally scheduled): May 31, 2017

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

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The project was a loan to Drakkar Holdings S.A., the Belgian parent company of Adisseo France S.A.S.. Drakkar Holdings is headquartered at Av. de Tervueren 34, 1040 Etterbeek, Belgium. More detailed locational information can be found at: https://www.openstreetmap.org/node/1128072340

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% Chinese ownership

Funding agencies

State-owned Commercial Banks

Bank of China (BOC)

Cofinancing agencies

Private Sector

Banque Palatine
BNP Paribas S.A.
Coöperatieve Rabobank U.A. (Rabobank)
Crédit Industriel et Commercial (CIC)
HSBC Bank PLC
Natixis

State-owned Banks

Royal Bank of Scotland (RBS)

Receiving agencies

State-owned companies

Drakkar Group S.A. (Drakkar Holdings S.A.)

Loan desecription

2012 syndicated €300 million EUR loan from BoC and others to Drakkar Holdings for general corporate purposes of Adisseo France S.A.S.

Interest type•UnknownMaturity•5 years

Narrative

Full Description

Project narrative

In June 2012, a syndicate of eight banks — including the Bank of China (BOC) — signed a €300 million EUR syndicated loan facility with Drakkar Holdings S.A. — a Belgium-incorporated holding company that is 99.99% owned by Hong Kong-incorporated Bluestar Adisseo Nutrition Group Co., Ltd., a wholly-owned subsidiary of China National BlueStar (Group) Corporation, a Chinese state-owned chemical manufacturer and wholly-owned subsidiary of Chinese state-owned ChemChina, and 0.01% owned by BlueStar itself that is also the parent of Adisseo France S.A.S., a France-incorporated and based animal nutrition supplement producer — for general corporate purposes. This loan carried a maturity period of five years and was divided into a €100 million EUR term loan tranche and a €200 million EUR revolving credit tranche. The proceeds were to be used for general corporate purposes in relation to Adisseo France S.A.S.. In addition to BOC, the following lenders contributed to the loan syndicate: BNP Paribas, HSBC Bank PLC, Natixis, Coöperatieve Rabobank U.A. (Rabobank), Banque Palatine, Royal Bank of Scotland (RBS), and Crédit Industriel et Commercial (CIC). BNP Paribas, HSBC Bank, Natixis, and Rabobank served as mandated lead arrangers and bookrunners, with the other lenders joining in syndication.

Staff comments

1. The individual contributions of the eight lenders to this €300 million 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 BOC by assuming that each lender contributed an equal amount (€37,500,000 EUR) to the loan syndicate.