Overview

ICBC contributes 10 million USD to pre-export financing for Premium Tobacco International

Commitments (Constant USD, 2023)$14,084,461

Commitment Year•2008Country of Activity•MalawiDirect Recipient Country of Incorporation•United Arab EmiratesSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: May 1, 2008

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

Industrial and Commercial Bank of China (ICBC)

Cofinancing agencies

Private Sector

ING Bank A.Ş
Natixis
Nedbank Ltd
Standard Bank

State-owned Banks

Ghana International Bank plc

Receiving agencies

Private Sector

Premium Tobacco Internationa lDMCC (“PTID”)

Loan description

ICBC contributions to $54.5 million syndicated loan for Premium Tobacco International

Interest type•Unknown

Narrative

Full Description

Project narrative

In May 2008, Premium Tobacco International signed a 54.5 million USD syndicated pre-export financing. Standard Bank was the bookrunner and mandated lead arranger on the deal. Standard Bank committed $10m to the loan, while Natixis joined as an arranger with a commitment of $12m, and Industrial and Commercial Bank of China and Nedbank were also arrangers but joined on tickets of $10m. ING contributed $7.5m as a co-arranger, and Ghana International Bank committed $5m as a lead manager. Proceeds will go to Premium Tama Tobacco Limited, the group's main sales and financing vehicle for its Malawi operations.