Overview

ICBC Malaysia contributes to a $50 million syndicated secured term loan to PESTECH (Cambodia) PLC

Commitments (Constant USD, 2023)$25,949,687

Commitment Year•2019Country of Activity•CambodiaDirect Recipient Country of Incorporation•CambodiaOverseas Jurisdiction•MalaysiaSector•EnergyFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Mar 25, 2019

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 (Malaysia) Berhad (ICBC Malaysia)

Cofinancing agencies

State-owned Commercial Banks

Industrial and Commercial Bank of China (ICBC)

Receiving agencies

Private Sector

PESTECH (Cambodia) PLC

Loan description

ICBC Phnom Penh and ICBC Berhad contributions to a $50 million USD syndicated secured term loan to PESTECH in 2019

Interest type•Unknown

Narrative

Full Description

Project narrative

On March 25, 2019, ICBC Phnom Penh Branch and Industrial and Commercial Bank of China (Malaysia) Berhad (ICBC Malaysia) provided a syndicated secured term loan worth $50 million USD to PESTECH (Cambodia) PLC, a Cambodia-incorporated 100% subsidiary of Malaysia's Pestech International, an integrated electrical power technology company, for unspecified purposes.

Staff comments

1. The precise size of the contribution of each branch of ICBC to the loan syndicate is unknown. For the time being, AidData assumes equal contributions to the $50 million loan ($25,000,000) across the 2 known participants in the loan syndicate.