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Overview

Agricultural Bank of China contributes to a $500 million USD syndicated loan to Goshawk Aviation Limited for general corporate purposes

Commitment Year•2019Country of Activity•IrelandDirect Recipient Country of Incorporation•Cayman IslandsSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Aug 16, 2019
Last repayment (originally scheduled)
Aug 14, 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

  • 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 500 million syndicated loan to Goshawk Aviation Limited in Ireland for general corporate purposes in 2019

Interest rate (t₀)•3.61675%Interest type•Variable Interest RateMaturity•5 years

Narrative

Full Description

Project narrative

Circa August 2019, a syndicate of banks — with the Agricultural Bank of China (ABC) as the sole lead arranger and bookrunner — entered into a $500 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 general corporate purposes. The facility was unsecured and carried a maturity period of five years and a variable interest rate of 160 basis points (bps). The loan was under syndication in July 2019 with a deadline of commitments of August 16, 2019. The loan was finalized.

Staff comments

1. While it is known the loan was committed, the exact signing date is unknown. AidData has estimated the deadline for loan commitments as the commitment date. 2. The number of lenders that ultimately participated is unknown.