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Overview

Bank of China contributes to a €500 million EUR syndicated loan to CMA CGM for general corporate purposes (Linked to Record ID#104868)

Commitments (Constant USD, 2023)$49,042,874
Commitment Year•2006Country of Activity•FranceDirect Recipient Country of Incorporation•FranceSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Feb 1, 2006
Last repayment (originally scheduled)
Jan 31, 2011

Geospatial footprint

Map overview

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The project was a syndicated loan agreement to French shipping company CMA CGM S.A., headquartered at Tour CMA CGM Boulevard Jacques Saade, 4 Bd Euromediterranée Quai d'Arenc, 13002 Marseille, France. More detailed locational information can be found at: https://www.openstreetmap.org/way/202481439

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

  • Bank of China (BOC)

Cofinancing agencies

Private Sector

  • Banca di Roma S.p.A.
  • Banco Bilbao Vizcaya Argentaria, S.A. (BBVA)
  • Barclays Bank PLC
  • CDIB Capital Group (Formerly China Development Industrial Bank)
  • Crédit Agricole Corporate and Investment Bank (CACIB) (Crédit Agricole CIB) (Formerly Calyon) (Formerly Crédit Agricole Indosuez (CAI))
  • E.SUN Commercial Bank, Ltd.
  • HSBC Bank PLC
  • ING Group N.V.
  • International Bank of Taipei (IBT)
  • JPMorgan Chase Bank, N.A. (Chase Bank, formerly the Chase Manhattan Bank)
  • KBC Group N.V.
  • Mizuho Bank, Ltd.
  • MUFG Bank, Ltd. (Formerly Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU))
  • Natexis Banques Populaires
  • Société Générale S.A. (SocGen or Societe Generale)
  • Sumitomo Mitsui Banking Corporation (SMBC)
  • The Shanghai Commercial & Savings Bank, Ltd. (SCSB)

State-owned Banks

  • Bayerische Landesbank (BayernLB)
  • Dexia N.V./S.A. (Dexia Group)
  • National Bank of Egypt (S.A.E.)
  • State Bank of India (SBI)
  • WestLB AG

State-owned Commercial Banks

  • Industrial and Commercial Bank of China (ICBC)

Receiving agencies

Private Sector

  • CMA CGM S.A.

Loan desecription

2006 syndicated €500 million EUR loan from BoC, ICBC, and others to CMA CGM for general corporate purposes

Interest type•Variable Interest RateMaturity•5 years

Narrative

Full Description

Project narrative

In February 2006, a syndicate of 24 banks — including the Bank of China (BOC) and the Industrial and Commercial Bank of China (ICBC) — signed a €500 million EUR syndicated loan agreement with CMA CGM S.A. — a French shipping and logistics company — for general corporate purposes. This loan carried a maturity period of five years with two one-year extension options and an interest rate based on a floating rate plus an initial margin of 90 basis points (bps) before ratcheting according to a leverage grid. The proceeds were to be used by the borrower for general corporate purposes. Record ID#104867 captures BOC's contribution. Record ID#104868 captures ICBC's contribution. In addition to BOC and ICBC, the following lenders contributed to the loan syndicate: Natexis Banques Populaires, Barclays Bank Plc, Société Générale S.A. (SocGen), Bayerische Landesbank (BayernLB), Calyon, ING Group N.V., Sumitomo Mitsui Banking Corporation (SMBC), WestLB AG, Banca di Roma S.p.A., Banco Bilbao Vizcaya Argentaria, S.A. (BBVA), KBC Group N.V., China Development Industrial Bank (CDIB), Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU), HSBC Bank PLC, JPMorgan Chase Bank, N.A. (Chase Bank), Mizuho Bank, Ltd., National Bank of Egypt, The Shanghai Commercial & Savings Bank, Ltd. (SCSB), E.SUN Commercial Bank, Ltd., International Bank of Taipei (IBT). and State Bank of India (SBI). Natexis Banques Populaires, Barclays, and SocGen served as mandated lead arrangers and bookrunners. Natexis Banques Populaires served as a bookrunner. BayernLB, Calyon, ING, SMBC, and WestLB joined in syndication as arrangers. ICBC, Banca di Roma, BBVA, and KBC served as co-arrangers. BOC, CDIB, BTMU, Dexia, HSBC, JPMorgan, Mizuho, National Bank of Egypt, and SCSB joined in syndication as lead managers. E.Sun, IBT, and SBI joined in syndication as managers. The loan was increased from its €400 million EUR target due to oversubscription, with banks invited to commit €30 million EUR for fees of 35 bps as arrangers, €20 million EUR for fees of 20 bps as co-arrangers, and €10 million EUR for fees of 10 bps as lead managers.

Staff comments

1. The individual contributions of the 24 lenders to this €500 million EUR syndicated loan are unknown as the loan was increased by €100 million EUR, meaning that the invitations of the banks joining in syndication may have changed. For the time being, AidData has estimated the contribution of BOC and ICBC by assuming that each lender contributed an equal amount (€20,833,333.3333 EUR) to the loan syndicate.