Overview

China Construction Bank provides a €60 million EUR loan to Fincantieri for unspecified purposes

Commitments (Constant USD, 2023)$70,345,488

Commitment Year•2020Country of Activity•ItalyDirect Recipient Country of Incorporation•ItalySector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Mar 1, 2020

First repayment (originally scheduled): Mar 1, 2023

Last repayment (originally scheduled): Mar 1, 2023

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)

Receiving agencies

State-owned companies

Fincantieri S.p.A.

Loan description

China Construction Bank provides a €60 million EUR loan to Fincantieri for unspecified purposes

Grace period•3 yearsInterest type•UnknownMaturity•3 years

Narrative

Full Description

Project narrative

In March 2020, China Construction Bank Corporation (CCB) entered into a €60 million EUR bilateral loan agreement with Fincantieri S.p.A. — an Italian shipbuilding company headquartered in Trieste, Italy that constructs commercial and military vessels and, while listed on the Borsa Italiana, is majority-owned (71.32% stake) by CDP Industria S.p.A., a wholly-owned subsidiary of Italian state-owned development bank Cassa Depositi e Prestiti S.p.A. (CDP) — for unspecified purposes. This loan was unsecured and carried a maturity period of three years and a final maturity date in March 2023, where it was repayable in a single installment (a grace period of three years). The borrower fully drew down this loan in 2020, and it was repaid at its natural maturity in Match 2023.