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Overview

Bank of China contributes to a $5 billion USD syndicated loan to Qatar Holding to finance green investments and restructure some investments (Linked to Record ID#105980)

Commitments (Constant USD, 2023)$393,716,305
Commitment Year•2022Country of Activity•QatarDirect Recipient Country of Incorporation•QatarSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Dec 1, 2022
Last repayment (originally scheduled)
Dec 15, 2017

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

  • Bank of America Corporation
  • Citigroup Inc.
  • Credit Agricole S.A. (Crédit Agricole Group)
  • Deutsche Bank AG
  • Goldman Sachs Group, Inc.
  • HSBC Bank PLC
  • JPMorgan Chase Bank, N.A. (Chase Bank, formerly the Chase Manhattan Bank)
  • Mitsubishi UFJ Financial Group
  • Standard Chartered Bank PLC

State-owned Commercial Banks

  • Agricultural Bank of China (ABC)

Receiving agencies

State-owned companies

  • Qatar Holding LLC (QH)

Loan description

December 2022 $5 billion USD syndicated loan from ABC, BoC, and others to Qatar Holding to finance green investments and restructure some investments in Qatar

Interest type•UnknownMaturity•5 years

Narrative

Full Description

Project narrative

In December 2022, a syndicate of 12 banks — including the Agricultural Bank of China (ABC) and the Bank of China (BOC) — entered into an approximately $5 billion USD syndicated loan agreement with Qatar Holding LLC (QH) — a Qatar-incorporated investment house and wholly-owned subsidiary of the Qatar Investment Authority (QIA), the wholly state-owned sovereign wealth fund of Qatar — to finance green investments and restructure some investments. This loan carried a maturity period of five years and a final maturity date in mid-December 2017. The precise total amount of the loan was not disclosed, not was it clear whether all the funds would be used for green investments. Record ID#105980 captures ABC's contribution. Record ID#105981 captures BOC's contribution. In addition to ABC and BOC, the following lenders contributed to the loan syndicate: HSBC Bank, JPMorgan Chase Bank, N.A., Goldman Sachs Group, Inc., Deutsche Bank AG, Standard Chartered Bank PLC, Mitsubishi UFJ Financial Group, Bank of America Corporation, Crédit Agricole Group, and one unnamed bank..

Staff comments

1. The individual contributions of the 12 lenders to this approximately $5 billion USD syndicated loan are unknown. Therefore, for the time being, to estimate ABC's and BOC's contributions, AidData has assumed that each lender contributed equally ($416,666,666.667 USD) to the loan syndicate. 2. White and Case provided counsel to Qatar Holding and Linklaters advised the banking syndicate.