Overview

ICBC Peru contributes to $40 million syndicated loan to Banco Financiero del Perú for on-lending purposes

Commitments (Constant USD, 2023)$6,837,021

Commitment Year•2014Country of Activity•PeruDirect Recipient Country of Incorporation•PeruOverseas Jurisdiction•PeruSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Nov 26, 2014

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Funding agencies

State-owned Commercial Banks

ICBC Perú Bank S.A

Cofinancing agencies

Private Sector

Bancaribe Curacao Bank
Banco Aliado, S.A.
Banco Latinoamericano de Comercio Exterior (Bladex)
Multibank Inc.

State-owned Banks

KfW IPEX-Bank GmbH

Receiving agencies

Private Sector

Banco Pichincha, S.A. (formerly Banco Financiero del Perú, S.A.)

Collateral providers

Private Sector

Banco Pichincha, S.A. (formerly Banco Financiero del Perú, S.A.)

Loan description

ICBC Peru contributes to $40 million syndicated loan to Banco Financiero del Perú for on-lending purposes in Peru in 2014

Interest type•Unknown

Collateral

A portion of Banco Financiero’s trade finance portfolio in Peru.

Narrative

Full Description

Project narrative

On November 26, 2014, Banco Financiero del Perú, S.A. signed a $40 million syndicated secured loan agreement with six banks: Banco Latinoamericano de Comercio Exterior, S.A. (Bladex), Banco Aliado, Bancaribe Curaçao Bank, ICBC Peru Bank, KfW IPEX-Bank and Multibank. Bladex served as an administrative agent and sole lead arranger of a six-bank syndicate. The loan was secured by (i.e. collateralized against a portion of Banco Financiero’s trade finance portfolio in Peru.

Staff comments

1. Bladex is a supranational bank established by the central banks of Latin American and Caribbean countries. It is based in Panama. 2. Bladex and the lenders were represented by Holland & Knight partner Stephen Double and associate Carlos Meza in New York. The law firm of Muñiz, Ramirez, Perez-Taiman & Olaya Abogados advised Bladex and the lenders as to Peruvian law on the transaction. 3. ICBC’s contribution to the loan syndicate is unknown. For the time being, AidData assumes equal contributions across the six members of the syndicate ($6,666,666)