Overview

ICBC contributes to a ¥2 billion JPY syndicated loan to JinkoSolar Japan for working capital purposes

Commitments (Constant USD, 2023)$5,012,696

Commitment Year•2016Country of Activity•JapanDirect Recipient Country of Incorporation•JapanOverseas Jurisdiction•JapanSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jul 13, 2016

Last repayment (originally scheduled): Jul 13, 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% Chinese ownership

Funding agencies

State-owned Commercial Banks

Industrial and Commercial Bank of China (ICBC)

Cofinancing agencies

Private Sector

Mizuho Bank, Ltd.
NEC Capital Solutions Limited
Sumitomo Mitsui Banking Corporation (SMBC)

Receiving agencies

Private Sector

JinkoSolar Japan K.K.

Loan description

2016 syndicated ¥2 billion JPY loan from ICBC for working capital purposes

Interest type•UnknownMaturity•1 years

Narrative

Full Description

Project narrative

On July 13, 2016, it was announced that a syndicate of four banks — the Tokyo Branch of the Industrial and Commercial Bank of China (ICBC), Sumitomo Mitsui Banking Corporation (SMBC), Mizuho Bank, Ltd., and NEC Capital Solutions Limited — signed a ¥2 billion JPY syndicated loan agreement with JinkoSolar Japan K.K. — a Japan-incorporated and based wholly-owned subsidiary of Chinese private sector solar company JinkoSolar Holding Co., Ltd. — for working capital purposes. This loan carried a maturity period of one year. SMBC served as the bank leader. The proceeds were to be used to supplement JinkoSolar Japan's working capital.

Staff comments

1. The individual contributions of the four lenders to this ¥2.0 billion JPY syndicated loan are unknown. For the time being, AidData has estimated ICBC's contribution by assuming that each contributed equally (¥500,000,000 JPY) to the loan syndicate.