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Overview

Bank of China (Europe) Poland Branch contributes to a zł1.200 billion PLN syndicated loan to PGNiG for unspecified purposes

Commitments (Constant USD, 2023)$127,119,166
Commitment Year•2022Country of Activity•PolandDirect Recipient Country of Incorporation•PolandOverseas Jurisdiction•PolandSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Feb 23, 2022
Last repayment (originally scheduled)
Nov 23, 2022

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

  • Bank of China (Europe) S.A. (formerly Bank of China (Luxembourg) S.A. or BOC Luxembourg)

Cofinancing agencies

State-owned Commercial Banks

  • Bank of China (BOC)

Receiving agencies

State-owned companies

  • Polskie Górnictwo Naftowe i Gazownictwo S.A. (PGNiG)

Loan description

February 2022 zł1.200 billion PLN syndicated loan to PGNiG for unspecified purposes in Poland

Interest type•UnknownMaturity•0.75 years

Narrative

Full Description

Project narrative

On February 23, 2022, a syndicate of two banks — the Luxembourg Branch of the Bank of China (BOC) and the Poland Branch of Bank of China (Europe) S.A. — entered into a zł1.200 billion PLN syndicated loan agreement with Polskie Górnictwo Naftowe i Gazownictwo S.A. (PGNiG) — a Polish state-controlled oil and gas company, headquartered in Warsaw, Poland and listed on the Warsaw Stock Exchange with the the State Treasury of the Republic of Poland as the largest shareholder (71.88% stake) and the rest of the shares free floating — for unspecified purposes. This loan carried a maturity period of nine months (0.75 years). Record ID#109062 captures BOC's contribution. Record ID#109063 captures Bank of China (Europe)'s contribution.

Staff comments

1. The individual contributions of BOC and Bank of China (Europe) are unknown. Therefore, to estimate their contributions, AidData has assumed that each contributed equally (z600,000,000 PLN) to the loan syndicate.