Skip to content
AidData logo

Overview

ICBC contributes a junior loan to Korean Air for the acquisition of Boeing B777-300ER aircraft

Commitment Year•2018Country of Activity•KoreaDirect Recipient Country of Incorporation•KoreaSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2018

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

  • Industrial and Commercial Bank of China (ICBC)

Receiving agencies

Private Sector

  • Korean Air Lines Co., Ltd. (KAL)

Loan description

ICBC contributes to a junior tranche of a syndicated loan to Korean Air for the acquisition of Boeing B777-300ER aircraft in South Korea in 2018

Interest type•Unknown

Narrative

Full Description

Project narrative

In 2018, the Industrial and Commercial Bank of China (ICBC) contributed to a junior loan financing agreement to Korean Air Lines Co., Ltd. (KAL) — the flag carrier airline of South Korea headquartered in Seoul and listed on the Korea Exchange — for the acquisition of Boeing B777-300ER aircraft.

Staff comments

1. As ICBC was specifically involved in a junior portion, it implies the existence of a senior portion, which seemingly would involve further lenders. Therefore, AidData has considered this loan to have been syndicated.