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Overview

Agricultural Bank of China contributes to a $430 million USD syndicated loan to Goshawk Aviation Limited for unspecified purposes

Commitments (Constant USD, 2023)$72,117,901
Commitment Year•2018Country of Activity•IrelandDirect Recipient Country of Incorporation•Cayman IslandsOverseas Jurisdiction•Hong Kong (China)Sector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jul 24, 2018

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

  • Agricultural Bank of China (ABC)

Receiving agencies

Joint Venture/Special Purpose Vehicles

  • Goshawk Aviation Limited

Loan description

Agricultural Bank of China contributes to a USD 430 million syndicated loan to Goshawk Aviation Limited in Ireland for unspecified purposes in 2018

Interest type•Variable Interest Rate

Narrative

Full Description

Project narrative

On July 24, 2018, a syndicate of six banks — with the Hong Kong Branch of Agricultural Bank of China (ABC) as the sole lead arranger and bookrunner — signed a $430 million USD syndicated loan agreement with Goshawk Aviation Limited — a Cayman Islands-incorporated aircraft leasing company headquartered in Dublin, Ireland that was a joint venture between Hong Kong–based, privately owned conglomerate Chow Tai Fook Enterprises Limited (CTFE) (50% equity stake) and Hong Kong-based conglomerate NWS Holdings Limited (50% equity stake), the infrastructure and service flagship of New World Development Company Limited with a 61.09% stake — for unspecified purposes. The facility was unsecured and carried a variable interest rate. The loan was targeted at $200 million USD to increased to $430 million USD during syndication, even though the syndicate was limited.

Staff comments

1. The individual contribution of the six lenders to this $430 million USD syndicated loan are unknown. For the time being, to estimate the contributions of ABC, AidData has assumed each lender contributed an equal amount ($71,666,666.6667 USD) to the syndicated loan.