Overview

China Merchants Bank provides a RMB 937 million loan to Liaoning Dare Industrial to facilitate its acquisition of Carcoustics International GmbH

Commitments (Constant USD, 2023)$147,553,729

Commitment Year•2017Country of Activity•GermanyDirect Recipient Country of Incorporation•China (People's Republic of)Sector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Mar 3, 2017

Start (actual): Mar 3, 2017

End (actual): Mar 3, 2017

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 Commercial Banks

China Merchants Bank Co., Ltd.

Receiving agencies

Private Sector

Liaoning Dare Industrial Co. Ltd.

Loan description

China Merchants Bank provides a RMB 937 million loan to Liaoning Dare Industrial to facilitate its acquisition of Carcoustics International GmbH

Interest type•Unknown

Narrative

Full Description

Project narrative

On March 3, 2017, the Shanghai Branch of China Merchants Bank issued a RMB 937 million loan commitment letter to Liaoning Dare Industrial Co. Ltd. to facilitate its acquisition of Carcoustics International GmbH, an automotive acoustics manufacturer based in Leverkusen. Liaoning Dare received RMB 937 million billion from China Merchants Bank, and provided RMB 1.21 billion of its own raised from its own funds and loans to finance this acquisition.