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Overview

China Eximbank participates in USD 1.5 billion loan to Reliance Industries Limited for capital expenditure and general corporate purposes

Commitments (Constant USD, 2023)$31,250,000
Commitment Year•2023Country of Activity•IndiaDirect Recipient Country of Incorporation•IndiaSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Mar 31, 2023
Last repayment (originally scheduled)
Jun 28, 2028

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 Policy Banks

  • Export-Import Bank of China (China Eximbank)

Cofinancing agencies

Private Sector

  • Afrasia Bank Limited
  • Australia and New Zealand Banking Group (ANZ)
  • Bank of America, N.A.
  • Barclays Bank PLC
  • BNP Paribas S.A.
  • Chang Hwa Commercial Bank Limited
  • Citigroup Inc.
  • Credit Agricole S.A. (Crédit Agricole Group)
  • CTBC Bank (formerly Chinatrust Commercial Bank)
  • DBS Bank Ltd.
  • E.SUN Commercial Bank, Ltd.
  • Far Eastern International Bank (FEIB)
  • First Commercial Bank Limited
  • Gunma Bank
  • Hana Bank Co., Ltd. (formerly KEB Hana Bank)
  • HSBC (Hong Kong and Shanghai Banking Corporation)
  • Hua Nan Commercial Bank, Ltd. (HNCB)
  • ING Group N.V.
  • JP Morgan
  • Mega International Commercial Bank Co., Ltd. (formerly International Commercial Bank of China)
  • Norinchukin Bank (Nochu Bank)
  • SBI Shinsei Bank, Limited
  • Scotiabank, Inc.
  • Standard Chartered Bank PLC
  • Sumitomo Mitsui Trust Bank, Limited (SMTB)
  • Sunny Bank
  • Taichung Commercial Bank
  • Taipei Fubon Commercial Bank Co., Ltd. (Taipei Fubon Bank)
  • Taiwan Business Bank (TBB)
  • Taiwan Shin Kong Commercial Bank
  • The Hachijuni Bank, Ltd.
  • The Hyakugo Bank, Ltd.
  • The Shanghai Commercial & Savings Bank, Ltd. (SCSB)
  • The Shiga Bank, Ltd.
  • United Overseas Bank Limited (UOB)
  • Yuanta Commercial Bank (Yuanta Bank)

State-owned Banks

  • Abu Dhabi Commercial Bank PJSC (ADCB)
  • Bank of India Limited (BOI)
  • Bank of Kaohsiung (BOK)
  • Bank of Taiwan
  • First Abu Dhabi Bank PJSC (FAB)
  • KfW IPEX-Bank GmbH
  • Korea Development Bank (KDB)
  • Land Bank of Taiwan Co., Ltd. (LBOT)
  • State Bank of India (SBI)
  • Taiwan Cooperative Bank

State-owned Commercial Banks

  • Bank of China (BOC)

Receiving agencies

Private Sector

  • Reliance Industries Ltd.

Loan description

China Eximbank and BOC contributions to USD 1.5 billion loan to Reliance Industries Limited for capital expenditure and general corporate purposes in India in 2023

Grant element•7.842%Interest rate (t₀)•6.14468%Interest type•Variable Interest RateMaturity•5.25 years

Narrative

Full Description

Project narrative

On March 31, 2023, China Eximbank and 47 other institutions closed on a USD 1.5 billion loan to Reliance Industries Limited for capital expenditure and general corporate purposes. The loan maturity is 5 years and 3 months. The interest rate is SOFR based with a basis points range of 121 to 128 bps. This is one tranche of a larger USD 5 billion financing scheme for Reliance Industries Limited and its subsidiary Reliance Jio Infocomm.

Staff comments

1. AidData calculated the margin on reference rate by averaging the estimated basis point range of 121 to 128.