Overview

China Construction Bank (Seoul) provides $10 million USD to a $51.5 million USD syndicated loan to Allco Aviation Finance for general corporate purposes

Commitments (Constant USD, 2023)$18,765,161

Commitment Year•2006Country of Activity•AustraliaDirect Recipient Country of Incorporation•AustraliaOverseas Jurisdiction•KoreaSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jun 15, 2006

Last repayment (originally scheduled): Jun 13, 2013

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

China Construction Bank Corporation (CCB)

Cofinancing agencies

Private Sector

National Agricultural Cooperative Federation (NH) (NACF)

State-owned Banks

Korea Development Bank (KDB)

Receiving agencies

Private Sector

Allco Aviation Finance Pty Ltd.

Guarantors

Joint Venture/Special Purpose Vehicles

Allco Asset Finance Limited

Loan description

China Construction Bank (Seoul) contributes to a $51.5 million USD syndicated loan to Allco Aviation Finance for general corporate purposes in Australia 2006

Interest rate (t₀)•6.71625%Interest type•Variable Interest RateMaturity•7 years

Narrative

Full Description

Project narrative

On June 15, 2006, a syndicate of three lenders — the Seoul Branch of the China Construction Bank (CCB), Korea Development Bank (KDB), and National Agricultural Cooperative Federation — entered into a $51.5 million USD syndicated loan facility agreement with Allco Aviation Finance Pty Ltd. — an Australia-incorporated subsidiary of Allco Finance Group — for general corporate purposes. The loan carried a maturity period of seven years and an interest rate of 120 basis point (bps) over LIBOR. Allco Asset Finance provided a guarantee. CCB (Seoul) contributed $10 million USD to the $51.5 million USD facility and acted as co-arranger. KDB was the lead arranger on the deal and contributed $23.5 million USD, and Korea's National Agricultural Cooperative Federation acted as co-arranger and contributed $18 million USD.