Overview

ICBC participates in $500 million syndicated loan with Mauritius Commercial Bank for on-lending purposes in 2022

Commitments (Constant USD, 2023)$18,898,383

Commitment Year•2022Country of Activity•MauritiusDirect Recipient Country of Incorporation•MauritiusOverseas Jurisdiction•United KingdomSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jun 1, 2022

Last repayment (originally scheduled): May 31, 2025

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)

Cofinancing agencies

Private Sector

Emirates NBD Capital Limited (formerly Emirates Financial Services PSC)
HSBC (Hong Kong and Shanghai Banking Corporation)
Mizuho Bank, Ltd.
SMBC Bank International PLC (formerly Sumitomo Mitsui Banking Corporation Europe Limited (SMBCE))
Standard Chartered Bank PLC

State-owned Banks

Abu Dhabi Commercial Bank PJSC (ADCB)
First Abu Dhabi Bank PJSC (FAB)

Receiving agencies

Private Sector

Mauritius Commercial Bank

Implementing agencies

Private Sector

Mauritius Commercial Bank

Loan description

ICBC contributes to USD 500 million syndicated loan with Mauritius Commercial Bank for on-lending purposes in 2022

Interest type•UnknownMaturity•3 years

Narrative

Full Description

Project narrative

In June 2022, the Mauritius Commercial Bank Ltd (MCB) signed a three-year $500 million syndicated loan agreement with 25 Chinese and non-Chinese banks. The borrowing terms of the loan are unknown. Abu Dhabi Commercial Bank PJSC (ADCB), Emirates NBD Capital Limited (EMCAP), First Abu Dhabi Bank PJSC (FAB), The Hongkong and Shanghai Banking Corporation Limited (HSBC), Industrial and Commercial Bank of China Limited, London Branch (ICBC), Mizuho Bank, Ltd. (Mizuho), Standard Chartered Bank (SCB) and SMBC Bank International plc (SMBC), acted as Coordinators and Bookrunners on the transaction.

Staff comments

1. The size of ICBC’s financial contribution to the syndicate is unknown. For the time being, AidData assumes equal contributions ($20 million) across the 25 lenders that participated in the syndicate.