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Overview

Bank of China contributes to a €425 million EUR syndicated revolver loan to Financière Agache for unspecified purposes

Commitments (Constant USD, 2023)$96,304,087
Commitment Year•2005Country of Activity•FranceDirect Recipient Country of Incorporation•FranceSector•Business And Other ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jun 1, 2005
Last repayment (originally scheduled)
May 31, 2010

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

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The project was a syndicated revolver loan agreement to French holding company Financière Agache S.A., headquartered at 11 Rue François 1er, 75008 Paris, France. More detailed locational information can be found at: https://www.openstreetmap.org/way/69330611

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 Intesa S.p.A. (IntesaBci S.p.A.)
  • Banque Fédérative du Crédit Mutuel (BFCM) (CM-CIC)
  • Barclays Bank PLC
  • BNP Paribas S.A.
  • Crédit Agricole Corporate and Investment Bank (CACIB) (Crédit Agricole CIB) (Formerly Calyon) (Formerly Crédit Agricole Indosuez (CAI))
  • Fortis Bank
  • ING Group N.V.
  • IXIS Corporate & Investment Bank (IXIS CIB)
  • Mediobanca - Banca di Credito Finanziario S.p.A.
  • Société Générale Corporate and Investment Banking (SGCIB)

Receiving agencies

Private Sector

  • Financière Agache S.A.

Loan description

2005 syndicated €425 million EUR revolver loan from BoC and others to Financière Agache for unspecified purposes

Interest type•UnknownMaturity•5 years

Narrative

Full Description

Project narrative

In June 2005, a syndicate of 11 banks — including the Bank of China (BOC) — signed a €425 million EUR syndicated revolver loan agreement with Financière Agache S.A. — a France-incorporated holding company for Groupe Arnault, a vehicle for the French Arnault family, owner of shares in French cosmetics company Christian Dior and luxury goods retailer LVMH — for unspecified purposes. This loan carried a maturity period of five years. In addition to BOC, the following lenders contributed to the loan syndicate: Calyon, Banque Fédérative du Crédit Mutuel (BFCM) (CM-CIC), Mediobanca, Banca Intesa S.p.A. Barclays Bank Plc, BNP Paribas S.A., Fortis Bank, ING Group N.V., IXIS Corporate & Investment Bank (IXIS CIB), and Société Générale Corporate & Investment Bank (SGCIB). Calyon and CM-CIC served as mandated lead arrangers and bookrunners. BOC and Mediobanca served as arrangers. Banca Intesa, Barclays, BNP Paribas, ING, IXIS CIB, and SGCIB served as co-arrangers. The loan was oversubscribed in syndication by €125 million EUR from its €300 million EUR target; lenders were offered tickets of €50 million EUR and €25 million EUR. Syndication was completed in June 2005.

Staff comments

1. The individual contributions of the 11 lenders to this €425 million EUR syndicated revolver loan are unknown. AidData has assumed each lender contributed to each tranche. Therefore, to estimate the contribution of BOC, AidData has assumed each lender contributed equally (€38,636,363.6364 EUR) to the loan syndicate.