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Overview

ICBC contributes to AR$ 400 million syndicated loan to Ledesma Sociedad Anónima Agrícola e Industrial for working capital, investment, debt refinancing and general corporate purposes

Commitments (Constant USD, 2023)$12,628,866
Commitment Year•2014Country of Activity•ArgentinaDirect Recipient Country of Incorporation•ArgentinaOverseas Jurisdiction•ArgentinaSector•Other MultisectorFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2014

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

  • Industrial and Commercial Bank of China (Argentina) Limited (ICBC (Argentina))

Cofinancing agencies

Private Sector

  • Banco de Galicia y Buenos Aires S.A.
  • Banco Santander Río
  • BBVA Argentina (formerly BBVA Banco Francés)

Receiving agencies

Private Sector

  • Ledesma S.A.A.I.

Loan description

ICBC contributes to AR$ 400 million syndicated loan to Ledesma Sociedad Anónima Agrícola e Industrial for working capital, investment, debt refinancing and general corporate purposes in 2014

Interest type•Unknown

Narrative

Full Description

Project narrative

In 2014, a group of 4 banks — including BVA Banco Francés S.A., Banco de Galicia y Buenos Aires S.A., Industrial and Commercial Bank of China (Argentina) S.A. and Banco Santander Río S.A. — signed a AR$ 400 million syndicated loan agreement with Ledesma Sociedad Anónima Agrícola e Industrial. The borrower was expected to use the loan proceeds for working capital, investment, debt refinancing and other general corporate purposes.

Staff comments

1. The size of ICBC’s contribution to the AR$ 400 million syndicated loan is unknown. For the time being, AidData assumes that all 4 known members of the syndicate made equal contributions (AR$ 100 million). 2. The China-Latin America Commercial Loans Tracker, which is produced by the Inter-American Dialogue, does not capture this ICBC loan commitment. 3. Ledesma Sociedad Anónima Agrícola e Industrial is an Argentina-based company engaged in the agro-industrial sector.