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Overview

Bank of China’s contributes to $200 million syndicated loan with Uzbekneftegaz for general corporate purposes

Commitments (Constant USD, 2023)$47,245,957
Commitment Year•2022Country of Activity•UzbekistanDirect Recipient Country of Incorporation•UzbekistanOverseas Jurisdiction•Cayman IslandsSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Dec 22, 2022
Last repayment (originally scheduled)
Dec 21, 2025

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 (BOC)

Cofinancing agencies

Private Sector

  • Halyk Savings Bank of Kazakhstan JSC (HSBK)
  • JPMorgan Chase Bank, N.A. (Chase Bank, formerly the Chase Manhattan Bank)
  • MUFG Bank (China)

Receiving agencies

State-owned companies

  • JSC Uzbekneftegaz

Loan description

Bank of China contributes to $200 million syndicated loan with Uzbekneftegaz for general corporate purposes

Interest type•UnknownMaturity•3 years

Narrative

Full Description

Project narrative

On December 22, 2022, JSC “Uzbekneftegaz” entered into a $200 million syndicated facility agreement with, among others, MUFG Bank, LTD. (as coordinator and bookrunner), Bank of China Grand Cayman Branch, Bank of China Limited, Tokyo Branch, JPMorgan Chase Bank, N.A., London Branch, JSC “Halyk Bank” (as original lenders) for general corporate purposes. The final maturity date of the facility is December 22, 2025. As of May 2025, the loan’s principal amount outstanding was $75 million.

Staff comments

1. The size of Bank of China’s contribution to the $200 million syndicated loan is unknown. For the time being, AidData assumes equal contributions ($50 million) across the four known members of the syndicate. This issue warrants further investigation. 2. The facility agreement was amended on April 18, 2024. The purpose of the amendment is unknown. This issue warrants further investigation.