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Overview

ICBC provides a ¥10 billion JPY revolving credit facility to JPMorgan Japanese Investment Trust for unspecified purposes

Commitments (Constant USD, 2023)$71,197,282
Commitment Year•2023Country of Activity•JapanDirect Recipient Country of Incorporation•United KingdomOverseas Jurisdiction•United KingdomSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Apr 1, 2023

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Funding agencies

State-owned Commercial Banks

  • Industrial and Commercial Bank of China (ICBC)

Receiving agencies

Private Sector

  • JPMorgan Japanese Investment Trust plc

Collateral providers

Private Sector

  • JPMorgan Japanese Investment Trust plc

Security / collateral agents

State-owned Commercial Banks

  • Industrial and Commercial Bank of China (ICBC)

Loan description

ICBC provides a ¥10 billion JPY revolving credit facility to JPMorgan Japanese Investment Trust for unspecified purposes

Interest type•Unknown

Collateral

The facility was secured by a first floating charge on all its assets and undertaking and all of its property, revenues, rights, and assets of JPMorgan Japanese Investment Trust Plc

Narrative

Full Description

Project narrative

On April 4, 2023, the London Branch of the Industrial and Commercial Bank of China (ICBC) entered into a ¥10,000,000,000 JPY revolving credit facility agreement with JPMorgan Japanese Investment Trust plc — an England and Wales-incorporated large British investment trust dedicated to investments in Japan headquartered in London, the United Kingdom and listed on the London Stock Exchange — for unspecified purposes. The facility was secured by (i.e. collateralized against) a first floating charge on all its assets and undertaking and all of its property, revenues, rights, and assets of JPMorgan Japanese Investment Trust Plc. ICBC served as security agent.

Staff comments

1. The floating charge for this facility is accessible via https://find-and-update.company-information.service.gov.uk/company/00223583/charges/AgKxHayAnnTokCI9bTKRzpj9mg4. The dropbox link is accessible here: https://www.dropbox.com/scl/fi/q4cj16ngsiy4pweas0tiq/Source_ID_219151.pdf?rlkey=ulj23a42h4769em18i7yunaru&st=a4zi16v3&dl=0. 2. As the borrower's operations are focused on investing in Japan and its Japanese equities, AidData has considered Japan to be the recipient of this loan. 3. JPMorgan Funds Limited, a wholly-owned subsidiary of JPMorgan Chase Bank, is the borrower's its Alternative Investment Fund Manager, with its affiliate to JPMorgan Asset Management (UK) Limited (JPMAM) being delegated the work and the day-to-day investment management activity conducted in Tokyo by JPMorgan Asset Management (Japan) Limited, a fellow investment management subsidiary and an affiliate of JPMorgan Chase Bank.