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Overview

China Construction Bank contributes $5.5 million USD to $18 million USD syndicated loan to GP Industries for unknown purposes in 2004 (Linked to Record ID#105012)

Commitments (Constant USD, 2023)$11,570,550
Commitment Year•2004Country of Activity•SingaporeDirect Recipient Country of Incorporation•SingaporeSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
May 1, 2004

Geospatial footprint

Map overview

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The purpose of this project was for China Construction Bank to contribute $5.5 million USD to $18 million USD syndicated loan to GP Industries for unknown purposes in 2004. More detailed locational information can be found at: https://www.openstreetmap.org/way/172749016

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

  • China Construction Bank Corporation (CCB)

Cofinancing agencies

Private Sector

  • Hua Nan Commercial Bank, Ltd. (HNCB)

State-owned Banks

  • Bank of Taiwan

State-owned Commercial Banks

  • Industrial and Commercial Bank of China (ICBC)

Receiving agencies

Private Sector

  • GP Industries Ltd.

Loan desecription

2004 USD 18 million syndicated loan to GP Industries for unspecified purposes

Interest type•Unknown

Narrative

Full Description

Project narrative

In May 2004, Financial close was reached on a deal in which a syndicate of 4 banks — including China Construction Bank and ICBC — entered into an $18 million USD loan facility agreement with GP Industries — a Singaporean company specialized in battery production and industrial investment. The proceeds were used for unknown purposes. While China Construction Bank contributed $5.5 million USD (Record ID#105011) and ICBC contributed $3 million USD (Project#105012), other banks also contributed: Bank of Taiwan, as a lead manager, contributed $5.5 million USD, and Hua Nan Commercial Bank, as a senior manager, contributed $4 million USD.

Staff comments

1. GP Industries Limited is an international manufacturing and marketing group with operations in the fields of Battery Solutions and Acoustics & Electronics, as well as Industrial Investments. The Company has been listed on the Mainboard of the Singapore Exchange Securities Trading Limited (“SGX-ST”) since 1995. 2. GP Industries raised $100m SGD equivalent from the market via a dual tranche facility, $70 million SGD of which was raised from non-Chinese banks. The $30 million USD tranche has Chinese involvement.