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Overview

China Huarong International Holdings provides a $50 million USD loan to a Chinese pharmaceutical company to finance the acquisition of land and buildings in California

Commitments (Constant USD, 2023)$47,245,957
Commitment Year•2022Country of Activity•United StatesDirect Recipient Country of Incorporation•UnknownOverseas Jurisdiction•Hong Kong (China)Sector•Business And Other ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jul 1, 2022

Geospatial footprint

Map overview

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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 companies

  • China Huarong International Holdings Limited

Receiving agencies

Private Sector

  • Unspecified Chinese pharmaceutical company

Loan desecription

China Huarong International Holdings provides a $50 million USD loan to a Chinese pharmaceutical company to finance the acquisition of land and buildings in California

Interest type•Unknown

Narrative

Full Description

Project narrative

Prior to July 2022, China Huarong International Holdings Limited — a Hong Kong-incorporated subsidiary of Chinese state-owned financial asset management company China Huarong Asset Management Co., Ltd. (later renamed China CITIC Financial Asset Management Co., Ltd.) — provided a $50 million USD secured term loan to a Chinese pharmaceutical company to finance the acquisition of land and buildings in California.

Staff comments

1. There is very little information about this loan, including the exact signing date, but it is known it was provided prior to July 2022, as a July 2022 timestamped version of the experience list of a lawyer who advised the deal mentions its existence. Still, more investigation is merited to determined the details of this loan, including borrower and more information on the use of the proceeds.