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Overview

Agricultural Bank of China contributes €50 million EUR to a €200 million EUR syndicated loan to Grupo Aldesa for refinancing purposes (Linked to Record ID#106383 and #106384)

Commitments (Constant USD, 2023)$54,063,431
Commitment Year•2023Country of Activity•SpainDirect Recipient Country of Incorporation•SpainSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jul 1, 2023

Geospatial footprint

Map overview

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The project is providing money for re-financing a loan to Grupo Aldesa, S.A. which is headquartered at Bahía de Pollensa, 13 28042 Madrid, Spain. More detailed locational information can be found at: https://www.openstreetmap.org/way/156512685.

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% Chinese ownership

Funding agencies

State-owned Commercial Banks

  • Agricultural Bank of China (ABC)

Cofinancing agencies

Private Sector

  • Banco Santander, S.A. (Santander Group) (formerly Banco Santander Central Hispano, S.A.)

State-owned Commercial Banks

  • China CITIC Bank Corporation Limited
  • Industrial and Commercial Bank of China (ICBC)

Receiving agencies

State-owned companies

  • Grupo Aldesa, S.A.

Loan desecription

2023 syndicated €200 million EUR loan from ABC, China CITIC Bank, ICBC, and others to Grupo Aldesa for refinancing purposes in Spain

Interest type•Unknown

Narrative

Full Description

Project narrative

On July 1, 2023, a four-bank syndicate — including the Agricultural Bank of China (ABC), China CITIC Bank Corporation Limited, Industrial and Commercial Bank of China (ICBC), and Banco Santander, S.A. — signed a entered into a €200 million EUR ($218.3 million USD) syndicated term loan agreement with Grupo Aldesa, S.A. — a Spanish civil and industrial infrastructure construction and development company with work in renewable energy, real estate, and concessions headquartered in Madrid, Spain owned by CRCC International Investment Group, a wholly-owned subsidiary of Chinese state-owned China Railway Construction Corporation Limited (CRRC) (75% stake) and the Fernández family (25% stake) — for refinancing purposes. Banco Santander was the lead bank. Each lender contributed €50 million EUR ($54.58 million USD) to the loan syndicate. Record ID#106382 captures ABC's contribution. Record ID#106383 captures China CITIC Bank's contribution. Record ID#106384 captures ICBC's contribution.