Overview

SPDB (Singapore Branch) contributes to USD 300 million syndicated loan to Halcyon Agri Corporation to refinance a previous loan

Commitments (Constant USD, 2023)$46,107,082

Commitment Year•2021Country of Activity•SingaporeDirect Recipient Country of Incorporation•SingaporeOverseas Jurisdiction•SingaporeSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: May 3, 2021

Last repayment (originally scheduled): May 2, 2024

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

Shanghai Pudong Development Bank Co., Ltd. (SPDB)

Cofinancing agencies

State-owned Commercial Banks

China Bank of Communications (BoCom or BoComm)
China CITIC Bank International Limited (formerly CITIC Ka Wah Bank)
China Construction Bank Corporation (CCB)
China Everbright Bank

Receiving agencies

State-owned companies

Halcyon Agri Corporation Limited

Loan description

Chinese bank contributions to USD 300 million syndicated loan to Halcyon Agri Corporation to refinance a previous loan

Interest type•UnknownMaturity•3 years

Narrative

Full Description

Project narrative

On May 3, 2021, it was announced that a syndicate of six Chinese banks -- including the Singapore branches of China Construction Bank, China CITIC Bank, Shanghai Pudong Development Bank, and Bank of Communications, the Offshore Baking Unit of Bank of Communications, and the Shanghai branch of Everbright Bank -- and Halcyon Agri Corporation, a rubber producer based in Singapore, entered into a three-year, USD 270 million syndicated loan agreement, with a green-shoe option for up to an additional USD 30 million, bringing the total value of the loan to USD 300 million. The proceeds of the loan were to be used by Halcyon Agri to refinance a previous loan.

Staff comments

1. The individual contributions from each bank to the syndicated loan are unspecified. For the time being, AidData assumes equal contributions from each bank ($50 million each).